Share Class
LU1299311164
A Fund geared for a changing world
- An unconstrained approach in terms of sectors, regions, or investment style.
- Stock selection based on companies that excel, are undervalued, and display a long-term potential.
- Focus on secular growth profile driven by innovation, technology and a unique selling proposition.
Key documents
Asset Allocation
Equities96.4 %
Other3.6 %
Data as of: May 30, 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
+ 100.5 %
-
+ 65.4 %
+ 52.5 %
+ 7.9 %
To 10/06/2025
Calendar Year Performance 2015Calendar 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 2024
- 1.7 %
+ 2.1 %
+ 4.7 %
- 14.0 %
+ 25.1 %
+ 34.6 %
+ 4.5 %
- 17.9 %
+ 19.4 %
+ 25.5 %
Net Asset Value
200.52 €
Asset Under Management
232 M €
Net Equity Exposure30/05/2025
91.9 %
SFDR - Fund Classification
Article
8
Data as of: May 30, 2025.
Data as of: Jun 10, 2025.
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.
Carmignac Portfolio Investissement 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: May 30, 2025.Fund management team
Kristofer Barrett
Head of Global Equities, Fund Manager
Performance commentary
- The Fund posted a solid performance, significantly outperforming its reference indicator.
Stock selection was the main driver of performance, particularly in the technology and industrial sectors.
The strengthening of certain convictions in April amplified the fund's rebound (Nvidia, Amazon, Alphabet).
Our diversified positions along the Taiwanese technology value chain also contributed to the rebound (TSMC, Elite Material).
Outlook strategy
- While the US remains the most fertile ground for companies posting sustained earnings growth, we are maintaining significant exposure to emerging markets and, to a lesser extent, Europe.
Nvidia's recent results confirmed the trend toward investment in artificial intelligence. However, following the sharp rebound, we are maintaining a highly diversified position across the value chain.
We took profits on stocks such as Nvidia to strengthen our exposure to emerging markets and financials.
We took advantage of the decline in volatility to buy back long-dated index put options.
Performance Overview
Data as of: Jun 10, 2025.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.The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 11/06/2025
Carmignac Portfolio Investissement Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: May 30, 2025.| North America | 63.1 % |
| Asia | 21.0 % |
| Europe | 11.1 % |
| Latin America | 3.2 % |
| Asia-Pacific | 1.3 % |
| Eastern Europe | 0.3 % |
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: May 30, 2025.Equity Investment Weight96.4 %
Net Equity Exposure91.9 %
Number of Equity Issuers80
Active Share79.9 %
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
Kristofer Barrett
Head of Global Equities, Fund Manager
Since its creation in 1989 by Edouard Carmignac, our Investissement strategy seeks to identify long-term trends in a changing world and seize global equity market opportunities.
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The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performance is shown net of fees (excluding any subscription fees payable to the distributor). 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.
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
The recovery was fueled in particular by easing trade tensions and a solid earnings season.
The US rebound was mainly driven by large technology companies. More specifically, more than two-thirds of the gains came from just seven equities: Nvidia, Microsoft, Meta, Broadcom, Amazon, Tesla and Alphabet.
Taiwan (+12.5%) and Korea (+7.8%) stood out with particularly strong gains.