We are expanding our offering for UK investors with the launch of FP Carmignac Tech Solutions, a UK-domiciled OEIC (open-ended investment company) providing access to our global technology equity strategy, managed by Kristofer Barrett since June 2024.
Owning technology companies is easy. Owning the right companies within the technology sector is another matter entirely. Technology is one of the major drivers of stock markets, and the rapid development of artificial intelligence (AI) is accelerating this trend. However, gains have been concentrated among a handful of very large companies that now dominate the main global indices. This is precisely where active management comes into its own: looking beyond the indices to identify a broader range of opportunities.
The Carmignac Tech Solutions strategy provides broad exposure to the technology revolution, from the sector's leaders to the companies enabling the deployment of AI in practice. This approach aims to capture a diverse range of growth drivers, while seeking to limit reliance on the most crowded and highly valued segments of the market.
A fund manager who has been through tech cycles before
Kristofer Barrett has been investing in equities for around 20 years, almost 18 of them at Swedbank Robur, where he managed developed and emerging market equity funds. In 2020, he took over the firm's technology fund.
He joined Carmignac in April 2024 as Head of Global Equities. He manages the Carmignac Investissement strategy and co-manages the Carmignac Patrimoine strategy, where he is responsible for its equity portfolio. Just two months after his arrival, Carmignac launched the Carmignac Tech Solutions strategy, drawing on his extensive experience and expertise in the technology sector. As the strategy's sole Fund Manager, he has full responsibility for investment decisions, while drawing on the expertise of Carmignac's sector and regional analysts: Somesh Batra, a technology specialist; Yunfan Bao, who covers the Asian technology value chain; and Eirik Fladmark, who specialises in software.
Kristofer Barrett is AA rated by Citywire for his rolling three-year risk-adjusted performance across all funds that he manages1. The strategy also ranks in the 1st quartile of its Morningstar category, Sector Equity Technology, over one year and since launch2.
Generating alpha over the long term requires a willingness to look beyond the market consensus and identify growth opportunities that have yet to be fully recognised. This is the philosophy that guides Kristofer Barrett's investment approach.
"Technology has been a high-conviction investment theme at Carmignac for many years. With technology becoming more pervasive, we believe Kristofer is the ideal portfolio manager to navigate this uncharted phase."
![[Management Team] Carmignac Maxime](https://carmignac.imgix.net/uploads/NextImage/0001/18/%5BManagement-Team%5D-Carmignac-Maxime.png?auto=format%2Ccompress&fit=fill&w=3840)
Maxime Carmignac
What sets the strategy apart
The strategy seeks to generate alpha across the whole technology value chain and throughout the market cycle. To achieve this, the team focuses on identifying companies that offer profitable growth at attractive valuations, through the following five themes that set this strategy apart:
WHAT CAN THE FUND BRING TO AN EQUITY PORTFOLIO?
Many investors already have significant exposure to technology, sometimes without fully realising it, through global equity funds and indices that are increasingly dominated by a handful of very large technology companies. Simply adding more exposure to the same companies may therefore increase portfolio concentration rather than provide genuinely differentiated investment exposure.
"We continue to favour companies that are well positioned to benefit from the industrialisation of AI rather than from AI enthusiasm alone."
A highly concentrated market, where share prices can move sharply,can create opportunities for an active approach such as ours. Rather than replicating the technology exposure already embedded in broad market indices, the strategy seeks opportunities across the technology value chain. The portfolio is deliberately concentrated, holding 52 companies at the end of September 2026, and is actively managed: the Fund Manager, supported by supported by the sector and regional analysts, actively adjusts the size of each position as opportunities evolve, with the flexibility to deviate significantly from its comparator benchmark.
The technology value chain, from raw materials to the apps we use
Our exposure already extends well beyond the chips at the heart of AI, with positions across areas such as advanced packaging, connectivity, server cooling and power distribution – all of which play an increasingly important role as AI workloads become more complex5.
"As one constraint is solved, another tends to emerge. The bottleneck keeps moving further along the value chain."
1Source and Copyright: Citywire, 30/O9/2026. Citywire Fund Manager Ratings and Citywire Rankings are proprietary to Citywire Financial Publishers Ltd (“Citywire”) and © Citywire 2026. All rights reserved. The reference to a ranking or prize is no guarantee of the future results of the UCITS or the manager.
2Source: Morningstar 30/09/2026. Ranking of the SICAV Carmignac Portfolio Tech Solutions A eur acc, launched in June 2024. Morningstar Rating™: © 2026 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. The reference to a ranking or prize is no guarantee of the future results of the UCITS or the manager.
3Source: Carmignac, 30/09/2026. Comparator benchmark: MSCI AC World Information Technology 10/40 Capped NR. The data provided is that of SICAV Carmignac Portfolio Tech Solutions.
4Source: Carmignac, 30/09/2026. The data provided is that of SICAV Carmignac Portfolio Tech Solutions. The portfolios of Carmignac funds may change without previous notice.
5Source: Carmignac, 30/09/2026. The Fund is actively managed, with the flexibility to deviate significantly from its comparator benchmark.
FP Carmignac Tech Solutions
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