Equity strategies

Carmignac Investissement

FCPGlobal marketSRI Fund Article 8
Share Class

FR0010148981

A Fund geared for a changing world
  • An international equity Fund offering an exposure to companies that thrive in an evolving global world.
  • An opportunistic approach aiming at benefiting from the most promising market dynamics and trends.
Key documents
Asset Allocation
Equities97.6 %
Other2.4 %
Data as of:  14 Jun 2024.
Risk Indicator
4/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 2687.8 %
+ 108.8 %
+ 73.6 %
+ 13.8 %
+ 31.0 %
From 26/01/1989
To 20/06/2024
Calendar Year Performance 2023
+ 10.4 %
+ 1.3 %
+ 2.1 %
+ 4.8 %
- 14.2 %
+ 24.7 %
+ 33.7 %
+ 4.0 %
- 18.3 %
+ 18.9 %
Net Asset Value
2124.9 €
Asset Under Management
3 835 M €
Market
Global market
SFDR - Fund Classification

Article

8
Data as of:  20 Jun 2024.
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).

Carmignac 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:  31 May 2024.
Fund management team

Kristofer Barrett

Fund Manager

Market environment

  • The United States and Europe are starting to diverge at macroeconomic and monetary policy levels.

  • Although the US economy remains firm, signs of cooling were observed in May.

  • In Europe, PMIs published during the month confirmed an improvement in economic activity.

  • The downward trend for US interest rates helped growth stocks.

  • Nvidia continued to benefit from investors’ excitement about artificial intelligence after publishing its results.

Performance commentary

  • The Fund delivered a positive return but trailed its reference indicator in May, though it did maintain a clear lead year-to-date.

  • Healthcare stocks were the main drag on performance as a number of our top holdings (Baxter, Lonza) showed weakness.

  • Nvidia was the top contributor as its quarterly results surpassed investors’ expectations.

  • Performances in the technology sector were mixed, with Samsung suffering from stiff competition with SK Hynix.

Outlook strategy

  • Since Kristofer Barrett took the reins, the Fund has been transformed with the addition of some 30 stocks and removal of a dozen others.

  • Although he is keeping the emphasis on profitable trends in artificial intelligence and healthcare, he has diversified the portfolio all along the value chain.

  • We have reduced investments in momentum stocks with high price multiples, and this has decreased the portfolio’s average valuation.

  • The US company Applied Materials was among the many names added to the portfolio. It is a major supplier to TSMC and Samsung.

Performance Overview

Data as of:  20 Jun 2024.
​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.
Source: Carmignac at 22/06/2024

Carmignac Investissement Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  14 Jun 2024.
North America59.2 %
Europe19.9 %
Asia17.6 %
Asia-Pacific1.7 %
Latin America1.7 %
Total % Equities100.0 %
North America59.2 %
usUSA
57.5 %
caCanada
1.6 %

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:  14 Jun 2024.
Equity Investment Weight97.6 %
Net Equity Exposure97.6 %
Number of Equity Issuers72
Active Share74.4 %

The strategy in a nutshell

Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team

Kristofer Barrett

Fund Manager
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.
View Fund's characteristics
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 Fund is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law.