Carmignac Investissement FCP ISIN FR0010148981 Equity management
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Recommended minimum investment horizon : 5 years
- NAV : 1142.39 €
- D-1 : -1.45 %
- YTD : -5.31 %
- 12 Month : -6.48 %
Description
International equity fund which benefits from our macro-economic expertise, active management and unconstrained asset allocation in terms of sectors, geographical areas and market capitalisations. The Fund aims to outperform its reference indicator over 5 years minimum. At least 60% of net assets are permanently exposed to equity markets. The Fund’s main performance drivers are therefore equities but also currencies and occasionally fixed income products.
Carmignac Global Strategy September 2018
- • Oil prices rose
- • German and US yields rose
- • Latin American markets rallied
Exposure data
monthly weeklyManagement Comments
Global
September 2018
Equity markets experienced mixed fortunes in September. The United States made further progress, with macroeconomic data such as industrial output figures remaining very positive. However, uncertainty surrounding the Italian situation and Brexit negotiations weighed on the European market. In the emerging world, Asian markets continued to suffer from US protectionist measures against China, whilst Latin American markets rallied on the announcement of new IMF support for Argentina. Our equity portfolio's emerging market exposure, in particular its Indian banking stocks, had a negative impact. However, although our gold mining positions suffered, we significantly benefitted from our investments in the oil industry. We were also helped by our healthcare stocks, albeit to a lesser extent. Our equity derivative strategies made a slight positive contribution (+0.02%), but our currency derivative strategies suffered from the euro’s weakness against the dollar over the period (-0.03%).
Weekly
Week from 5 to 12 Oct 2018
Legal information
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. 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 KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.
The instability resulting from the shift in political, monetary and economic conditions prompts us to increase our exposure to quality stocks at the expense of sectors vulnerable to these developments