Share Class
FR0013527827
Capturing long-term global equity trends with strong downside risk management
- A core equity portfolio invested in the most promising current market trends and dynamics.
- A Feeder Fund of international equity Fund Carmignac Investissement.
- A flexible and actively managed equity exposure (0% to 100%).
Key documents
Asset Allocation
Equities90.6 %
Other9.4 %
Data as of: Jan 30, 2026.
Risk Indicator
1
2
3
4
5
6
7
Lowest risk
Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 60.4 %
-
+ 37.0 %
+ 47.6 %
+ 20.9 %
To 05/03/2026
Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023Calendar Year Performance 2024Calendar Year Performance 2025
-
-
-
-
+ 12.4 %
- 6.0 %
+ 2.3 %
+ 13.5 %
+ 10.4 %
+ 17.3 %
Net Asset Value
160.42 €
Asset Under Management
290 M €
Net Equity Exposure30/01/2026
11.5 %
SFDR - Fund Classification
Article
8
Data as of: Jan 30, 2026.
Data as of: Mar 5, 2026.
?Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. The SFDR classification of the Funds may change over time.
Carmignac Investissement Latitude fund performance
Take a look at the Fund's performance supported by our Fund managers’ market commentary and strategy insight.
Our monthly comments
Data as of: Feb 27, 2026.Fund management team
Performance commentary
- In this context, the Fund delivered a negative performance over the period, underperforming its reference indicator.
- Performance was mainly impacted by two factors: the implementation of equity hedges and stock selection.
- The Fund was affected by sharp market rotations targeting perceived “AI losers,” particularly in the software and financial sectors, with Atlassian and S&P Global among the main detractors.
- Doximity, a strategic healthcare platform used by more than 80% of U.S. physicians, was also impacted by these concerns as investors reassessed companies perceived as less directly exposed to the AI theme.
- Many of these positions were built in recent weeks and months based on a contrarian view that markets may be too quick to determine the true winners and losers of AI.
- Novo Nordisk also detracted from performance over the period.
- Finally, the strategy was penalized by its equity hedges. While these instruments effectively protect the portfolio during market drawdowns, they mechanically detract from performance when markets move higher. These hedges were implemented in a context of renewed volatility across equity markets.
Outlook strategy
- While headline indices appear relatively stable, underlying dispersion is extreme. Significant winners and losers are offsetting each other, even as several large stocks remain under pressure. We expect this environment to persist.
- The “sell first, ask questions later” dynamic has repeated over recent weeks, with a clear target: perceived “AI losers,” particularly in software.
- We actively manage our tech exposure. While hyperscaler exposure is becoming more selective amid an AI capex arms race and rising dispersion, we maintain positions in high-quality semiconductors (including Nvidia and Asian players) as well as in software.
- In software, we believe AI will more likely be deployed on top of existing stacks rather than replacing them. Most enterprises still lack clean, unified, “AI-ready” data, and privacy, security, and compliance challenges remain significant for third-party agents at scale.
- Beyond tech, we aim to use corrections not driven by fundamentals to initiate new positions or reinforce existing ones.
- We maintain meaningful exposure to financials, which benefit from several trends including a pickup in M&A activity, bond and equity volatility, and opportunities among companies wrongly perceived as AI casualties
- Finally, we are currently maintaining a low exposure to equity markets due to rising tensions in the Middle East and are increasing our exposure to the U.S. dollar.
Performance Overview
Data as of: Mar 5, 2026.?Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
Morningstar Rating™ : © Morningstar, Inc. All Rights Reserved. The information contained herein: is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
From 01/01/2013 the equity index reference indicators are calculated net dividends reinvested.
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 07/03/2026
Key figures
Below are some key figures to help you understand the Fund's management and positioning.
Exposure Data
Data as of: Jan 30, 2026.Net Equity Exposure11.5 %
Global investment rate96.6 %
Master Fund Allocation98.0 %
To Access the weekly view
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
I always strive to fully exploit the Fund’s dynamic nature. The return of inflation is the return of the economic cycle where truly active management will stand out even more as the recent years have shown.
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Reference to certain securities and financial instruments is for illustrative purposes to highlight stocks that are or have been included in the portfolios of funds in the Carmignac range. This is not intended to promote direct investment in those instruments, nor does it constitute investment advice. The Management Company is not subject to prohibition on trading in these instruments prior to issuing any communication. The portfolios of Carmignac funds may change without previous notice.
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
The Funds are common funds in contractual form (FCP) conforming to the UCITS Directive under French law except Carmignac Investissement Latitude, alternative investment fund (AIF) under French law.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.
Market environment