Share Class
A EUR Acc • FR0010147603
Capturing long-term global equity trends with strong downside risk management
- A core equity portfolio invested in the most promising current market trends and dynamics.
- A Feeder Fund of international equity Fund Carmignac Investissement.
- A flexible and actively managed equity exposure (0% to 100%).
Key documents
Asset Allocation
Equities94.5 %
Other5.5 %
Data as of: Apr 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
+ 326.1 %
+ 78.1 %
+ 42.4 %
+ 48.1 %
+ 14.5 %
To 12/05/2026
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
+ 1.3 %
+ 0.3 %
- 16.1 %
+ 9.1 %
+ 27.0 %
- 6.2 %
+ 2.1 %
+ 13.2 %
+ 10.2 %
+ 16.9 %
Net Asset Value
426.11 €
Asset Under Management
307 M €
Net Equity Exposure31/03/2026
50.3 %
SFDR - Fund Classification
Article
8
Data as of: Apr 30, 2026.
Data as of: May 12, 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
I always strive to fully exploit the Fund’s dynamic nature. The return of inflation is the return of the economic cycle where truly active management will stand out even more as the recent years have shown.
Carmignac Investissement Latitude 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: Apr 30, 2026.Fund management team
Performance commentary
- In this context, the fund delivered a positive performance and also outperformed its reference indicator.
- Performance was driven by both developed and emerging markets, with the AI value chain remaining the key common theme across regions.
- The main contributors to performance were SK Hynix, TSMC, Alphabet and Nvidia. Several of our more differentiated holdings, including Asia Vital Components, Lotes and Credo, also ranked among the top contributors.
- Our recent additions within Japan’s technology value chain, notably Nitto Boseki and Ibiden, also contributed positively.
- In Europe, performance was mainly supported by industrial names such as Prysmian, IMCD and Siemens.
- Nevertheless, the fund was negatively impacted by the implementation of equity market hedges in a particularly volatile environment.
- Finally, our U.S. dollar hedges contributed positively to the strategy’s performance over the month.
Outlook strategy
- A strong earnings backdrop and continued optimism around AI remain powerful tailwinds for equity markets, leading investors to look through the energy shock and higher interest rates. So far, the energy shock does not appear severe enough to derail the AI investment cycle, which continues to exceed expectations.
- Beyond fundamentals, momentum remains a key market driver. Beneath the surface, dispersion is elevated and daily moves have become increasingly sharp, creating both risks and opportunities for active investors.
- In this context, discipline remains essential: maintaining valuation awareness, staying flexible across the growth spectrum, and looking beyond the index to limit momentum bias.
- Over the month, our main strategy was to take regular, incremental profits on our semiconductor exposure, especially in higher-beta names, while reinforcing our “diversifiers”. This included, on the one hand, a defensive bucket composed of US drug distributors and names such as Berkshire Hathaway, and, on the other hand, a growing allocation to Emerging Market banks.
- We are gradually reducing our software exposure. Although earnings were broadly strong, the threat of AI-native disruption is likely to play out over a much longer timeframe and may be questioned at every earnings season over the next 6 to 12 months. In our view, the market is trying to price a risk that is unlikely to materialise in reported numbers for several quarters.
Performance Overview
Data as of: May 12, 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 13/05/2026
Key figures
Below are some key figures to help you understand the Fund's management and positioning.
Exposure Data
Data as of: Mar 31, 2026.Net Equity Exposure50.3 %
Global investment rate97.5 %
Master Fund Allocation98.0 %
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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.
The Funds are common funds in contractual form (FCP) conforming to the UCITS Directive under French law except Carmignac Investissement Latitude, alternative investment fund (AIF) under French law.
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