Share Class
LU2809794733
A Fund unleashing the potential of tech companies across the world
- Investing in companies that are driving innovation that represent a solution to a changing world.
- An opportunistic approach capturing attractive trends worldwide across the value chain.
- A strategy that goes beyond investing in the tech sector by capturing technology in a wider spectrum.
Key documents
Asset Allocation
Equities97,5 %
Other2,5 %
Data as of: Jul 31, 2026.
Risk Indicator
1
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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
+ 92,9 %
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-
-
+ 62,1 %
To 03/09/2026
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
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-
-
-
-
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+ 6,6 %
+ 29,7 %
Net Asset Value
€192.95
Asset Under Management
784 M €
Net Equity Exposure31/07/2026
96,8 %
SFDR - Fund Classification
Article
9
Data as of: Jul 31, 2026.
Data as of: Sep 3, 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.
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
Now that technology is accelerating at a faster pace, we aim to capitalise on the significant impact it is having on global equity markets.
Carmignac Portfolio Tech Solutions 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: Jul 31, 2026.Fund management team
Performance commentary
- Over the month of July, despite a negative absolute performance, the Fund delivered a strong month in relative terms, driven by strong stock selection in a weak technology market.
- Our strongest contributors were concentrated in software and AI infrastructure. Microsoft, Atlassian and GitLab benefited from continued strength in enterprise software spending and AI adoption, while Broadcom also contributed positively as they extended their partnership with Apple through 2031. These gains more than offset weakness elsewhere in the portfolio.
- Additional positive contributions came from positions such as Credo Technology, Horizon Robotics, BizLink and Arista Networks, reflecting our exposure to structural beneficiaries of AI infrastructure, networking and digitalisation.
- Performance was partially offset by weakness in several semiconductor-related holdings. Nitto Boseki, Grand Process Technology, SK Hynix, ASML and Lotes were the largest detractors as investors took profits across parts of the semiconductor supply chain following a period of exceptional performance.
- Despite this short-term weakness, we remain constructive on the long-term outlook for these businesses. We believe recent share price weakness has been driven more by positioning and profit-taking than by any deterioration in underlying fundamentals and continues to create attractive opportunities to own high-quality technology franchises at more compelling valuations.
Outlook strategy
- Over the month, we maintained our conviction in the AI infrastructure build-out, continuing to focus on companies positioned at critical nodes of the value chain, notably in semiconductors, advanced packaging and connectivity.
- We maintain a low exposure to hyperscalers and manage it tactically across names, including trimming Microsoft following its recent strength.
- By contrast, we have used weaker market days to add very gradually and selectively to semiconductor and hardware names.
- These companies have delivered strong earnings and should continue to benefit from the AI infrastructure build-out, regardless of how quickly hyperscalers ultimately generate returns on their investments.
- In the current environment, we continue to emphasise diversification across the technology stack, balancing high-growth semiconductor exposure with more cyclical and valuation-sensitive segments of the ecosystem, while actively managing position sizing in areas that have experienced very strong rallies.
Performance Overview
Data as of: Sep 3, 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 04/09/2026
Carmignac Portfolio Tech Solutions Portfolio overview
Below is an overview of the composition of the portfolio.
Geographical Breakdown
Data as of: Jul 31, 2026.| North America | 45,8 % |
| Asia | 40,4 % |
| Asia-Pacific | 9,5 % |
| Europe | 4,3 % |
| Eastern Europe | - |
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: Jul 31, 2026.Equity Investment Weight97,5 %
Net Equity Exposure96,8 %
Number of Equity Issuers44
Active Share61,8 %
To Access the weekly view
Articles that may interest you
Strategies insights • July 21, 2026 • English
Carmignac Portfolio Tech Solutions: Letter from the Fund Manager - Q2 2026
3 minute(s) read
Strategies insights • July 17, 2026 • English
Reasons to invest in Carmignac Portfolio Tech Solutions for the next 5 years
4 minute(s) read
Strategies insights • June 18, 2026 • English
Carmignac Portfolio Tech Solutions: Winning beyond the obvious
5 minute(s) read
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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 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.
UAE DIFC and ADGM: for professional clients only. This document is issued by, or communicated on behalf of, Carmignac Middle East Ltd, a company incorporated under the laws of the Dubai International Financial Centre with company number CL 13413 registered at GD-PB-04-01-OF-01-0, Level 1, DIFC Fund Centre, Level POD, Gate District Precinct Building 04, Dubai International Financial Centre, Dubai, United Arab Emirates and regulated by the Dubai Financial Services Authority under reference number F013638.
This document is intended solely for Professional Clients and Market Counterparties, as defined under the applicable rules of the Dubai Financial Services Authority (?DFSA?). It must not be relied upon by, or distributed to, Retail Clients or any other person.
The fund(s) referred to in this document are foreign fund(s) domiciled and regulated in Luxembourg by the Commission de Surveillance du Secteur Financier (?CSSF?). Unless expressly stated otherwise, they are not domiciled in, authorised by, or subject to regulation or approval by the DFSA. The DFSA has not approved, reviewed or verified this document, the prospectus or any other fund documentation, and the authority does not accept responsibility for the information contained in them or for the merits of an investment in the fund(s).
Funds classified as Article [8/9] products under the EU Sustainable Finance Disclosure Regulation (?SFDR?) are subject to an EU classification only, and does not represent a label, approval or endorsement by the Dubai Financial Services Authority or any UAE authority. Funds that pursue ESG related objectives alongside financial objectives do so without any guarantee that such ESG objectives will be achieved. ESG data and indicators may be based on third party sources, estimates and evolving methodologies and should not be viewed as a precise or comprehensive measure of sustainability performance.
The fund(s) may be subject to investment, market, liquidity, currency, credit, counterparty, concentration and other risks as described in the applicable offering documents. Prospective investors should conduct their own due diligence and carefully consider the risks, investment objectives, costs and suitability of an investment before making any decision.
This document is intended solely for Professional Clients and Market Counterparties, as defined under the applicable rules of the Dubai Financial Services Authority (?DFSA?). It must not be relied upon by, or distributed to, Retail Clients or any other person.
The fund(s) referred to in this document are foreign fund(s) domiciled and regulated in Luxembourg by the Commission de Surveillance du Secteur Financier (?CSSF?). Unless expressly stated otherwise, they are not domiciled in, authorised by, or subject to regulation or approval by the DFSA. The DFSA has not approved, reviewed or verified this document, the prospectus or any other fund documentation, and the authority does not accept responsibility for the information contained in them or for the merits of an investment in the fund(s).
Funds classified as Article [8/9] products under the EU Sustainable Finance Disclosure Regulation (?SFDR?) are subject to an EU classification only, and does not represent a label, approval or endorsement by the Dubai Financial Services Authority or any UAE authority. Funds that pursue ESG related objectives alongside financial objectives do so without any guarantee that such ESG objectives will be achieved. ESG data and indicators may be based on third party sources, estimates and evolving methodologies and should not be viewed as a precise or comprehensive measure of sustainability performance.
The fund(s) may be subject to investment, market, liquidity, currency, credit, counterparty, concentration and other risks as described in the applicable offering documents. Prospective investors should conduct their own due diligence and carefully consider the risks, investment objectives, costs and suitability of an investment before making any decision.
Market environment