Equity strategies

Carmignac Portfolio Human Xperience

SICAVThematicESG Thematic Fund Article 9
Share Class

LU2295992163

A thematic Fund focused on customer and employee experience
  • Social thematic Fund : a thematic strategy that focuses both on customer and employee satisfaction.
  • Leveraging the power of social data : quantitative expertise and experience in using ‘alternative’ sources of data.
Asset Allocation
Equities94 %
Other6 %
Data as of:  14 Jun 2024.
Risk Indicator
4/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 29.6 %
0.0 %
0.0 %
+ 23.4 %
+ 22.2 %
From 31/03/2021
To 20/06/2024
Calendar Year Performance 2023
-
-
-
-
-
-
-
+ 19.2 %
- 21.8 %
+ 22.6 %
Net Asset Value
129.6 €
Asset Under Management
106 M €
Market
Thematic Fund
SFDR - Fund Classification

Article

9
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 Portfolio Human Xperience 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
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst

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 absolute return in May but trailed its reference indicator.
  • Our technology stock selection, consumer staples overweight and financials underweight were the main reasons for this lag.
  • However, limited exposure to commodity stocks and a good selection of healthcare names helped the strategy.
  • Estee Lauder, Intuit, Samsung and Salesforce were the Fund’s most costly positions in May, whereas Nvidia, Lenovo and Costco limited the Fund’s underperformance.

Outlook strategy

  • We made very few changes to our portfolio in May, but did add to positions in TSMC, Diageo and VIPshop.
  • Although market sentiment remained positive during the month, we are still being cautious with the portfolio’s positioning and continuing to focus on less cyclical quality stocks.

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.
Source: Carmignac at 24/06/2024

Carmignac Portfolio Human Xperience Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  14 Jun 2024.
North America61.6 %
Europe23.9 %
Asia12.1 %
Asia-Pacific2.4 %
Total % Equities100.0 %
North America61.6 %
usUSA
61.6 %

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 Weight94.0 %
Net Equity Exposure94.0 %
Number of Equity Issuers38
Active Share77.7 %

The strategy in a nutshell

Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst
The social theme is one of the most disregarded areas within ESG. Yet we believe that companies providing positive experiences to both their customers and employees are better positioned to achieve superior returns over the long run.
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst
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.
Carmignac Portfolio is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.

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