Share Class
LU2812616816
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
Equities98.2 %
Other1.8 %
Data as of: Oct 31, 2025.
Risk Indicator
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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
+ 49.3 %
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+ 43.6 %
To 04/12/2025
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
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+ 3.2 %
Net Asset Value
149.34 $
Asset Under Management
327 M €
Net Equity Exposure31/10/2025
96.6 %
SFDR - Fund Classification
Article
9
Data as of: Oct 31, 2025.
Data as of: Dec 4, 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 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: Nov 28, 2025.Fund management team
Performance commentary
- Over the month of November the fund outperformed its reference indicator despite having a negative absolute return.
- Our Cloud & Software and Industrial Tech & Digital infrastructure themes detracted the most with names such as TSMC and SK Hynix as well as software names like Servicenow, Salesforce and Atlassian suffering from the broad tech pullback and slowing enterprise IT budgets.
- Alphabet was our largest performance contributor over the month driven by investor confidence following the firm unveiling their Gemini 3 AI model, which outperformed rivals most advanced models.
- Similarly, Nitto Boseki, the Japanese electronic materials manufacturer performed well driven by significant upward earnings forecast for the year and a proposed year-end dividend increase.
Outlook strategy
- In November, we continued increasing our exposure to software & cloud companies. We continued building our positions in Accenture, Atlassian and Gitlab, which we initiated in September and reinforced our positions in Microsoft and Servicenow.
- We initiated a new position in Allring, the Taiwanese semiconductor equipment supplier, which supplies 20-30% of TSMCs advanced packaging technology.
- To reinforce these positions we sold out of Eaton Corp and Schneider Electric within our climate tech themes and took profits on Celestica and Comfort systems, which have been our largest contributors year to date.
- In the current environment we believe it is important to look at all segments of Technology and capture entry points in areas we think demonstrate undervalued growth.
Performance Overview
Data as of: Dec 4, 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.
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 06/12/2025
Carmignac Portfolio Tech Solutions Portfolio overview
Below is an overview of the composition of the portfolio.
Geographical Breakdown
Data as of: Oct 31, 2025.| North America | 65.5 % |
| Asia | 28.4 % |
| Europe | 4.7 % |
| Asia-Pacific | 1.5 % |
| 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: Oct 31, 2025.Equity Investment Weight98.2 %
Net Equity Exposure96.6 %
Number of Equity Issuers45
Active Share61.0 %
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
Now that technology is accelerating at a faster pace, we aim to capitalise on the significant impact it is having on global equity markets.
Articles that may interest you
Strategies insights • December 3, 2025 • English
Carmignac Portfolio Tech Solutions at the time of the AI revolution
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Strategies insights • October 21, 2025 • English
Carmignac Portfolio Tech Solutions: Letter from the Fund Manager - Q3 2025
3 minute(s) read
Strategies insights • July 17, 2025 • English
Carmignac Portfolio Tech Solutions: A Fund that represents a long-term conviction
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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).
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