Share Class
LU0807689582
Unlock the untapped potential of Asian markets beyond China:
- Capture the growth potential of Asian markets beyond China, thanks to a rigorous investment process focusing on quality companies, with sustainable profitability.
- Capitalise on the expertise of a seasoned investment team to unlock hidden opportunities through a small and mid-cap bias, a segment often neglected by research analysts and consequently overlooked by investors.
- Gain access to a vast universe and a wide range of investment themes, offering portfolio diversification.
Key documents
Asset Allocation
Equities96.4 %
Other3.6 %
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
+ 180.1 %
+ 146.6 %
+ 72.6 %
+ 71.3 %
+ 37.0 %
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
+ 4.4 %
+ 19.7 %
- 6.7 %
+ 12.9 %
+ 1.2 %
+ 26.2 %
- 21.2 %
+ 14.6 %
+ 30.1 %
+ 6.4 %
Net Asset Value
280.13 €
Asset Under Management
141 M €
Net Equity Exposure30/01/2026
96.4 %
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 Portfolio Asia Discovery 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, our strategy delivered strong performance over the month, also outperforming its reference indicator.
- The main contributors to performance were our positions in Korean technology companies exposed to AI-related hardware, notably SK Hynix and Samsung Electronics, both of which reported strong earnings growth accompanied by positive outlooks. Samsung also announced its “AI-Driven Factories” strategy, aimed at transforming all of its production sites through AI by 2030.
- TSMC, the world’s leading semiconductor foundry, also contributed positively to performance, alongside key companies within its ecosystem such as Asia Vital Components, Elite Material and Lotes.
- Universal Microwave Technology stood out following the release of strong results, marked by accelerating shipments of components for low Earth orbit (LEO) satellites. Revenues and profits reached record levels, and management provided favorable guidance for 2026, supported by expected margin expansion.
- Finally, we also benefited modestly from our Indian positions during the period, notably Schloss Bangalore and Max Healthcare.
Outlook strategy
- Despite a more challenging year in 2025, the long-term growth trajectory of India and Asia more broadly remains intact, as illustrated by the rebound observed at the beginning of 2026. This dynamic could be further supported by a potential rotation of asset allocations away from the United States and by a weakening of the U.S. dollar.
- The escalation of tensions in the Middle East could disrupt oil and gas production and exports, on which many Asian economies remain highly dependent. It will therefore be important to monitor the evolution of this conflict and the ability of regional economies to adapt to potential energy constraints. Nevertheless, these external factors do not call into question the strong structural fundamentals of Asian economies.
- India continues to display one of the most dynamic growth profiles globally, supported by favorable demographic trends. In this environment, we favor high-quality domestic companies in the banking, insurance and consumer sectors, while remaining selective given the still-elevated valuation levels in the local market.
- We maintain significant exposure to companies linked to artificial intelligence, particularly those positioned along the semiconductor value chain in Taiwan and South Korea. This segment should continue to benefit from sustained investments by U.S. hyperscalers.
- During the month, we exited our positions in Poya International and Five Star, and initiated two new positions: Voltronic Power, a Taiwanese manufacturer of power solutions and solar panels, and Nitto Boseki, a producer of fiberglass fabrics used in industrial and technological materials.
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
Carmignac Portfolio Asia Discovery Portfolio overview
Below is an overview of the composition of the portfolio.
Geographical Breakdown
Data as of: Jan 30, 2026.| Asia | 95.7 % |
| Middle East | 2.2 % |
| Eastern Europe | 2.1 % |
| Latin America | - |
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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: Jan 30, 2026.Equity Investment Weight96.4 %
Net Equity Exposure96.4 %
Number of Equity Issuers58
Active Share68.4 %
To Access the weekly view
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Managers.
Fund Management Team
We seek to select the most attractive companies in the universe of emerging small and mid-caps and underexploited frontier markets through a socially responsible investment approach.
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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