Equity strategies
Carmignac Portfolio Investissement
Luxembourg SICAV sub-fundGlobal marketSRI Fund Article 8Share Class
LU1299311164
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
Equities97.7 %
Other2.3 %
Data as of: 30 Sep 2024.
Risk Indicator
4/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 83.8 %
0.0 %
+ 76.4 %
+ 12.2 %
+ 28.5 %
To 03/10/2024
Calendar Year Performance 2014Calendar Year Performance 2015Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023
-
- 1.7 %
+ 2.1 %
+ 4.7 %
- 14.0 %
+ 25.1 %
+ 34.6 %
+ 4.5 %
- 17.9 %
+ 19.4 %
Net Asset Value
183.80 €
Asset Under Management
245 M €
Market
Global market
SFDR - Fund Classification
Article
8
Data as of: 30 Sep 2024.
Data as of: 3 Oct 2024.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Sustainable Finance Disclosure Regulation (SFDR) 2019/2088 is a European regulation that requires asset managers to classify their funds as either 'Article 8' funds, which promote environmental and social characteristics, 'Article 9' funds, which make sustainable investments with measurable objectives, or 'Article 6' funds, which do not necessarily have a sustainability objective. For more information please refer to https://eur-lex.europa.eu/eli/reg/2019/2088/oj.
Carmignac Portfolio 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: 30 Aug 2024.Fund management team
Kristofer Barrett
Head of Global Equities, Fund Manager
Performance commentary
Against this backdrop, the fund delivered a negative performance in August, below its reference indicator.- Our technology allocation disappointed over the month, due to sector rotation and fears about the short-term benefits of artificial intelligence. In this respect, Amazon, Samsung Electronics, Microsoft and SK Hynix fell back.- Our portfolio of healthcare stocks supported the strategy over the period. Eli Lilly published encouraging results for its tirzepatide treatment, and posted strong financial results, enabling the stock to appreciate considerably on the stock market. Novo Nordisk and Veeva System also made positive contributions to performance.- The oil company Schlumberger saw its share price deteriorate, impacted by economic uncertainties and oil price fluctuations.Outlook strategy
- A slowing US economy, ongoing inflation deceleration, and accommodative central banks should continue to fuel a favorable environment for equities. However, recent market reactions over the summer have shown that optimism is waning, and political situations could lead to more volatility towards the end of the year.
- For these reasons, we have strategically reduced the Beta of our portfolio, increased the average market capitalization, and improved financial metrics such as the balance sheet and growth rate. This has resulted in a more resilient portfolio that is better prepared to withstand challenging market conditions.
- We identify promising long-term trends, particularly in technology, healthcare, infrastructure and consumer goods.
- We are pursuing our strategy of diversifying the portfolio by investing across the value chain, to capture opportunities in large caps as well as small and mid-caps.
Performance Overview
Data as of: 3 Oct 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 06/10/2024
Carmignac Portfolio Investissement Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: 30 Sep 2024.| North America | 62.8 % |
| Asia | 19.9 % |
| Europe | 12.9 % |
| Latin America | 2.5 % |
| Asia-Pacific | 2.0 % |
| Total % Equities | 100.0 % |
North America62.8 %
 USA | 60.6 % |
 Canada | 2.2 % |
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: 30 Sep 2024.Equity Investment Weight97.7 %
Net Equity Exposure90.6 %
Number of Equity Issuers72
Active Share80.4 %
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
Head of Global Equities, 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.
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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 information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performance is shown net of fees (excluding any subscription fees payable to the distributor). Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.
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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Global equities • 2 July 2024 • English
Exploring the benefits of Carmignac Investissement
2 minute(s) read
Market environment
The equity markets experienced a volatile month in August 2024: despite the ferocity and depth of the sell-off in early August, equity markets were quick to recover, with many indices back at their previous highs at the end of the month.
Several forces triggered the sell-off in early August, including weak US macro data which exacerbated <expectations for rate cuts, the implosion of the Yen carry trade as well as other technical market factors.
The month was also marked by the earnings season during which elevated market volatility in response to a few Q2 reports were masking the reality of better-than-expected earnings season.
At the end of the month, all eyes were on Nvidia ‘s earnings report which revealed earnings that fell short of expectations, even though revenue more than doubled in the last quarter.
Overall, August saw a "defensive" sector rotation with utilities, staples, healthcare outperforming.