Since Mark Denham took over Carmignac Portfolio Grande Europe in 2016, he has demonstrated a rigorous approach to stock selection while also maintaining an unwavering belief in the importance of socially responsible investment. These qualities have led to a significant turnaround for the Fund in just three years.
In Mark Denham’s own words
To celebrate the three-year anniversary since taking over Carmignac Portfolio Grande Europe, we asked Mark Denham a few questions on him and his approach to European equities.
I think European equities offer great
returns for somebody who’s
prepared to invest on a
three to five-year investment
horizon or longer
A notable turnaround in just 3 years
Mark has spent the last 16 years refining his investment process, and his results are a testament to his clear thinking and long-term vision for investors. In just three years, with the help of the European Equities team and Carmignac’s sector specialists, Mark has introduced an investment discipline that has enhanced the risk/return profile of the Fund, and gained the interest of investors and the investment community alike.
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A top-decile Fund with positive risk-adjusted returns
With a 32.3% cumulated return over three years (9.8% annualised return), Carmignac Portfolio Grande Europe beats 91% of its peers and outperforms its reference indicator. The Fund is also first quartile for its Information ratio, Sharpe ratio and Sortino ratio, and is rated 4 stars by Morningstar over Mark’s tenure 1.
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Mark Denham’s Citywire rating upgraded to A
In November 2019, in recognition of his investment process and consistency in meeting the Fund’s investment objective over the three-year period, Mark’s Citywire rating was upgraded from “+” to “A”, placing him in a select group of fund managers who have demonstrated strong risk-adjusted returns 2.
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A Fund Manager living up to his social responsibilities
Mark’s long-held commitment to socially responsible investment (SRI) has also been recognised. In January 2019, Carmignac Portfolio Grande Europe obtained the French SRI label 3. The Fund has also been designated as “socially conscious” and “low carbon” by Morningstar.
Main characteristics of the Fund
- Fund Manager: Mark Denham (since 01/11/2016)
- Universe: Invests mainly in large-cap companies of the European Union
- Investment objective: Seeks to outperform its reference indicator 1 over five years and generate capital appreciation
- Focus: Companies with high and sustainable profits that reinvest earnings to boost future growth
- Distinctive features: Quality growth stocks and socially responsible fund
- Portfolio allocation: Suitable for the core portion of an investor’s portfolio
- AUM of the Fund: €395 million (as of 30/11/2019)
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*For the A EUR acc share class. Risk scale from the KIID (Key Investor Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time.
1Source: Carmignac, Morningstar, 31/10/2019. Performance of the A EUR acc share class. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). Reference indicator: Stoxx Europe 600 NR EUR. Morningstar Category: Europe Large-Cap Growth Equity. Peer group includes Europe Equity Income, Europe Flex-Cap Equity, Europe Large-Cap Blend Equity, Europe Large-Cap Growth Equity, Europe Large-Cap Value Equity categories. The 3-year period runs from 01/11/2016 to 30/11/2019. © 2019 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.2 Source and Copyright: Citywire. Mark Denham is rated A by Citywire based on the manager’s three-year risk-adjusted performance to 31/10/2019. The reference to a ranking or prize is no guarantee of the future results of the UCIS or the manager.3 For more information on the SRI label, please visit www.lelabelisr.fr/en.
PROMOTIONAL MATERIAL. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. This document does not constitute a subscription offer, nor does it constitute investment advice. The information contained in this document may be partial information, and may be modified without prior notice. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). Carmignac Portfolio Grande Europe is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive. The Fund's prospectus, KIIDs, NAV and annual reports are available at www.carmignac.com or upon request to the Management Company. Access to the Fund may be subject to restrictions with regard to certain persons or countries. The Fund is not registered in North America, nor in South America. The Fund has not been registered under the US Securities Act of 1933. The Fund may not be offered or sold, directly or indirectly, for the benefit or on behalf of a "U.S. person", according to the definition of the US Regulation S and/or FATCA. The Fund presents a risk of loss of capital. The risks, fees and ongoing charges are described in the KIID (Key Investor Information Document). • In Switzerland, the prospectus, KIIDs and annual report are available at www.carmignac.ch or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, CH-1260 Nyon. The paying agent is CACEIS Bank, Paris, succursale de Nyon / Suisse, Route de Signy 35, 1260 Nyon. The KIID must be made available to the subscriber prior to subscription.