Alternative strategies

Carmignac Investissement Latitude

FCPGlobal marketSRI Fund Article 8
Share Class
A EUR AccFR0010147603
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.
Key documents
Asset Allocation
Equities97.5 %
Other2.5 %
Data as of:  14 Jun 2024.
Risk Indicator
3/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 256.9 %
+ 45.2 %
+ 52.9 %
+ 14.0 %
+ 19.9 %
From 31/12/2005
To 21/06/2024
Calendar Year Performance 2023
+ 5.1 %
- 4.9 %
+ 1.3 %
+ 0.3 %
- 16.1 %
+ 9.1 %
+ 27.0 %
- 6.2 %
+ 2.1 %
+ 13.2 %
Net Asset Value
356.9 €
Asset Under Management
150 M €
Market
Global market
SFDR - Fund Classification

Article

8
Data as of:  21 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 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:  31 May 2024.
Fund management team

Frédéric Leroux

Head of Cross Asset, 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 in May.
  • 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.
  • The Fund’s hedging of US equities proved a little costly.

Outlook strategy

  • Since Kristofer Barrett took over the master fund, Carmignac Investissement, the portfolio has been transformed with the addition of some 30 stocks and removal of a dozen others.
  • Carmignac Investissement focuses on profitable trends in artificial intelligence and healthcare, and he has diversified the portfolio all along the value chain.
  • The master fund reduced investments in momentum stocks with high price multiples, decreasing the portfolio’s average valuation.
  • We are continuing to manage the Fund’s equity exposure actively, and are keeping exposure high.

Performance Overview

Data as of:  21 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 24/06/2024

Key figures

Below are some key figures to help you understand the Fund's management and positioning.

Exposure Data

Data as of:  14 Jun 2024.
Net Equity Exposure60.5 %
Beta+1.4 %
Sortino Ratio+4.6
Number of Holdings0

The strategy in a nutshell

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

Frédéric Leroux

Head of Cross Asset, Fund Manager
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.

Frédéric Leroux

Head of Cross Asset, Fund Manager
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 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.