![Carmignac](https://carmignac.imgix.net/uploads/article/0001/18/CLSEE_Picture-2.jpg?auto=format%2Ccompress)
Carmignac P. Long-Short European Equities
February 2023
Portfolio News
- The Long book had a negative contribution to performance.
- The Short book had a negative contribution to performance.
Performance - F EUR Acc shareclass
February 2023 (1) | YTD (2) | 1 Year (2) | 3 Years (2) | 5 Years (2) |
---|---|---|---|---|
-1.57% | -1.59% | -5.53% | 4.48% | 3.09% |
(1)Net of fees. (2)Annualised return
Past performance is not necessarily indicative of future performance. Performance are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations. The fund presents a risk of capital loss.
-
Long Book
Largest Sector Allocations: Cons. Discretionary & Technology
Largest Holdings: Prada, Universal Music & Pinterest
Top Contributor: Prada
Top Detractor: Alcon
-
Short Book
Largest Sector Allocations: Cons. Discretionary & Technology
Largest Holdings: Apple, Siemens Healthineers & Pool
Top Contributor: Guess
Top Detractor: Stellantis
Notable portfolio moves
![Carmignac](https://carmignac.imgix.net/uploads/article/0001/20/net-equity-exposure.png?auto=format%2Ccompress)
Long Reinforcements: Universal Music (3.3%), Salesforce (1.8%)
New Longs: Alcon (2.0%), Fresenius (1.1%)
Short Reinforcements: Pool (0.8%), Guess (0.7%)
New Shorts: ASML (0.7%), Hayard (0.3%)
Net Exposure: 1% - Decrease
Number of Holdings - 77
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. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell individual securities. Data as of 28/02/2023. Source: Carmignac, 28/02/2023
Strategy reminder
Investment Objective: The fund seeks to achieve a positive absolute return over a 3-year investment horizon through capital growth
A European fundamental long/short strategy
100% bottom-up and High Conviction: 40 to 60 stocks on average
![Carmignac](https://carmignac.imgix.net/uploads/article/0001/17/Classification_SFDR_8_EN.png?auto=format%2Ccompress)
- SFDR Article 8 Strategy** with a fully integrated SRI & low carbon approach
Dynamic and flexible market exposure -> Net Exposure limits [-20%; +50%]
A 7-year track record with Malte Heininger as Lead PM
Other investment restrictions apply. Please refer to the fund documentation for a complete description of the fund. ** SFDR Fund Classification: Article 8 starting 1st January 2022. Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. For more information please refer to EUR-lex
Carmignac Portfolio Long-Short European Equities F EUR Acc
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
2024 (YTD) ? Year to date |
|
---|---|---|---|---|---|---|---|---|---|---|---|
Carmignac Portfolio Long-Short European Equities F EUR Acc | +2.34 % | -7.67 % | +9.99 % | +16.73 % | +5.15 % | +0.32 % | +7.42 % | +13.57 % | -5.72 % | +0.72 % | +15.16 % |
Scroll right to see full table
3 Years | 5 Years | 10 Years | |
---|---|---|---|
Carmignac Portfolio Long-Short European Equities F EUR Acc | +4.93 % | +6.55 % | +5.31 % |
Scroll right to see full table
Source: Carmignac at
Entry costs : | We do not charge an entry fee. |
Exit costs : | We do not charge an exit fee for this product. |
Management fees and other administrative or operating costs : | 1,16% of the value of your investment per year. This estimate is based on actual costs over the past year. |
Performance fees : | 20,00% max. of the outperformance if the performance is positive and the net asset value exceeds the high-water mark. The actual amount will vary depending on how well your investment performs. The aggregated cost estimation above includes the average over the last 5 years, or since the product creation if it is less than 5 years. |
Transaction Cost : | 0,83% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the investments underlying the product. The actual amount varies depending on the quantity we buy and sell. |
*PM Change on January 1st, 2016. Malte Heininger became Lead Portfolio Manager. Disclaimer: Performance of the F EUR Acc share class ISIN code: LU0992627298. Past performances are not a guide to future performances. The return may increase or decrease as a result of currency fluctuations. Table of fees: Entry charges paid to distributors. No redemption fees. Conversion charges: this is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. Ongoing charges are based on the expenses for the last financial year ended. They may vary from year to year and do not include performance fees or transaction costs. Variable Management Charge: 20% of the outperformance once performance since the start of the year exceeds that of the reference indicator and if no past underperformance still needs to be offset. Source: Carmignac, 31/12/2022.
Carmignac Portfolio Long-Short European Equities F EUR Acc
Recommended minimum investment horizon
Lower risk Higher risk
RISK ASSOCIATED WITH THE LONG/SHORT STRATEGY: This risk is linked to long and/or short positions designed to adjust net market exposure. The fund may suffer high losses if its long and short positions undergo simultaneous unfavourable development in opposite directions.
EQUITY: The Fund may be affected by stock price variations, the scale of which is dependent on external factors, stock trading volumes or market capitalization.
INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.
CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.
The Fund presents a risk of loss of capital.