Share Class
LU1299311677
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
Equities97.2 %
Other2.8 %
Data as of: Jun 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
+ 138.5 %
-
+ 73.5 %
+ 59.2 %
+ 10.6 %
To 17/07/2025
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
- 1.8 %
+ 3.5 %
+ 6.5 %
- 11.8 %
+ 28.0 %
+ 36.3 %
+ 5.1 %
- 15.8 %
+ 21.6 %
+ 26.8 %
Net Asset Value
238.46 $
Asset Under Management
243 M €
Net Equity Exposure30/06/2025
93.5 %
SFDR - Fund Classification
Article
8
Data as of: Jun 30, 2025.
Data as of: Jul 17, 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: Jun 30, 2025.Fund management team
Performance commentary
- The Fund significantly outperformed its reference indicator.
The main driver of performance was our Taiwanese, Korean and US technology stocks. These included SK Hynix, TSMC, Nvidia and Elite Material.
Our stock selection within the industrial sector also contributed positively, with Prysmian, Comfort Systems and Eaton among the top performers.
Geographic, sector and market capitalisation diversification were assets for the fund over the period.
Outlook strategy
- The fund remains broadly unchanged, focused on companies with profitable growth, while maintaining heightened vigilance on valuations.
We took advantage of the market rebound to take profits on certain technology stocks, notably Nvidia and Broadcom. We also reduced our exposure to other non-technology stocks that are among the best contributors.
At the same time, we initiated new positions in stocks that are at an inflection point in their growth cycle and trading at historically low valuations (AirBnB, Salesforce, Airbus, Alcon).
Within the top 10, we strengthened our position in Alphabet, taking advantage of a valuation close to its 2022 lows. We believe the market is underestimating its competitive advantage in advertising and the depth of its advertiser base.
Performance Overview
Data as of: Jul 17, 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 18/07/2025
Carmignac Portfolio Investissement Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: Jun 30, 2025.| North America | 61.5 % |
| Asia | 22.1 % |
| Europe | 12.0 % |
| Latin America | 3.1 % |
| Asia-Pacific | 1.0 % |
| 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: Jun 30, 2025.Equity Investment Weight97.2 %
Net Equity Exposure93.5 %
Number of Equity Issuers84
Active Share78.2 %
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
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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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 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
Investor sentiment was buoyed by the continued resilience of the US economy, easing political uncertainty, and signs of diminishing pressure on interest rates.
Technology and AI-related stocks led the rally, with standout performances from Nvidia, Alphabet, and Amazon.
While Wall Street outperformed other developed markets, it was surpassed by emerging markets, which benefited from a weaker US dollar.
However, European value sectors, particularly banks and industrials, outperformed the European market.