Flash Note

Reconsidering traditional fixed income investing

18.03.2020

In an environment characterised by zero or even negative interest rates, does it still make sense to invest in fixed income markets?


Discover the response from our Fixed Income Management Team’s and learn more about their Unconstrained approach designed to navigate through complex market environments.


A common philosophy for 4 complementary solutions

Our Unconstrained Fund range is composed of complementary funds sharing the same investment philosophy and designed to meet various investor profiles.

[Insights] 2020 03_FN_Unconstrained (All) EN

Potential Returns are forecasts. Performance forecasts are not a reliable indicator of future performance.


To learn more about our Unconstrained approach:

Carmignac Sécurité

Main risks of the Fund

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CREDIT: Credit risk is the risk that the issuer may default.

RISK OF CAPITAL LOSS: The portfolio does not guarantee or protect the capital invested. Capital loss occurs when a unit is sold at a lower price than that paid at the time of purchase.

CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.

The Fund presents a risk of loss of capital.

[Scale risk] 2_EN

Carmignac Portfolio Unconstrained Euro Fixed Income

Main risks of the Fund

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CREDIT: Credit risk is the risk that the issuer may default.

CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.

EQUITY: The Fund may be affected by stock price variations, the scale of which is dependent on external factors, stock trading volumes or market capitalization.

The Fund presents a risk of loss of capital.

[Scale risk] 3_EN

Carmignac Portfolio Unconstrained Credit

Main risks of the Fund

CREDIT: Credit risk is the risk that the issuer may default.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

RISK OF CAPITAL LOSS: The portfolio does not guarantee or protect the capital invested. Capital loss occurs when a unit is sold at a lower price than that paid at the time of purchase.

CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.

The Fund presents a risk of loss of capital.

[Scale risk] 3/2 years_EN

Carmignac Portfolio Unconstrained Global Bond

Main risks of the Fund

CREDIT: Credit risk is the risk that the issuer may default.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.

DISCRETIONARY MANAGEMENT: Anticipations of financial market changes made by the Management Company have a direct effect on the Fund's performance, which depends on the stocks selected.

The Fund presents a risk of loss of capital.

[Scale risk] 4/2 years_EN