Share Class
LU2601234839
A thematic Fund focused on customer and employee experience
- Social thematic Fund : a thematic strategy that focuses both on customer and employee satisfaction.
- Leveraging the power of social data : quantitative expertise and experience in using ‘alternative’ sources of data.
- Material upside potential : research performed on all factors to backtest investability and alpha potential.
Key documents
Asset Allocation
Equities98 %
Other2 %
Data as of: 28 Nov 2025.
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
+ 32.8 %
-
-
-
+ 5.0 %
To 08/01/2026
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
-
-
-
-
-
-
-
+ 10.6 %
+ 12.7 %
+ 5.3 %
Net Asset Value
132.81 £
Asset Under Management
111 M €
Net Equity Exposure28/11/2025
98.0 %
SFDR - Fund Classification
Article
9
Data as of: 28 Nov 2025.
Data as of: 8 Jan 2026.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
The Sustainable Finance Disclosure Regulation (SFDR) 2019/2088 is a European regulation that requires asset managers to classify their funds as either 'Article 8' funds, which promote environmental and social characteristics, 'Article 9' funds, which make sustainable investments with measurable objectives, or 'Article 6' funds, which do not necessarily have a sustainability objective. For more information please refer to https://eur-lex.europa.eu/eli/reg/2019/2088/oj.
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Carmignac Portfolio Human Xperience 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: 31 Dec 2025.Fund management team
![[Management Team] [Author] Ejikeme Obe](https://carmignac.imgix.net/uploads/NextImage/0001/18/%5BManagement-Team%5D-Ejikeme-Obe.png?auto=format%2Ccompress&fit=fill&w=3840)
Obe EJIKEME
Fund Manager, Analyst
Performance commentary
- Over the month of December, the fund had a negative absolute and relative performance over the month primarily driven by cyclical and value stocks outperforming.
- Our consumer focused names were the most affected by the weak performance in less cyclical and defensive names. Thus, our positions in companies like Essilorluxottica, Costco and Unilever were among our largest detractors.
- While structurally underweight to Financials, our recent addition in BBVA contributed positively in December.
- We also saw positive contribution from our tech holdings, especially in Asia, with Samsung and TSMC continuing to perform over the month.
Outlook strategy
- We did no major changes to the portfolio over the month of December apart from continuing to build our position in BBVA.
- We remain cautious in positioning our portfolio and continue to focus on higher quality companies.
- In the current dynamics, there is an attractive entry point for quality stocks, now trading at a 30% discount to the global market.
Performance Overview
Data as of: 8 Jan 2026.Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).
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 10/01/2026
Carmignac Portfolio Human Xperience Portfolio overview
Below is an overview of the composition of the portfolio.
Geographical Breakdown
Data as of: 28 Nov 2025.| North America | 60.7 % |
| Europe | 26.0 % |
| Asia | 9.7 % |
| Asia-Pacific | 3.7 % |
To Access the weekly view
Key figures
Below are the key figures for the Fund, which will give you a clearer idea of the Fund's management and equity positioning.
Exposure Data
Data as of: 28 Nov 2025.Equity Investment Weight98.0 %
Net Equity Exposure98.0 %
Number of Equity Issuers41
Active Share74.9 %
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
Obe EJIKEME
Fund Manager, Analyst
The social theme is one of the most disregarded areas within ESG. Yet we believe that companies providing positive experiences to both their customers and employees are better positioned to achieve superior returns over the long run.
Obe EJIKEME
Fund Manager, Analyst
Articles that may interest you
Strategies insights • 23 October 2025 • English
Carmignac Portfolio Human Xperience: Letter from the Fund Manager - Q3 2025
5 minute(s) read
Strategies insights • 28 April 2025 • English
Carmignac Portfolio Human Xperience: Letter from the Fund Manager
3 minute(s) read
Strategies insights • 29 January 2025 • English
Carmignac Portfolio Human Xperience: Letter from the Fund Manager
3 minute(s) read
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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.
Carmignac Portfolio is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.
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