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Take advantage of Emerging Markets with Carmignac Emergents

Published on
2 April 2021
Read time
3 minute(s) read

Five things worth knowing about Carmignac Emergents

1. Our long only, flagship Emerging Market equity fund that combines our core positioning as an Emerging Markets specialist since 1989 with our responsible investment credentials.

2. A selective, high conviction approach (50 stocks, 84% active share1) focusing on winners of the digital revolution and beneficiaries of long-term demographic trends within Emerging Markets.

3. A 5-year track record with Xavier Hovasse as lead Fund Manager, recently joined by Haiyan Li Labbé, both with more than 20 years of experience in Emerging Markets.

4. A socially responsible fund classified as Article 82 and accredited with multiple sustainability labels (French “Label ISR” in January 2019; Belgian “Towards Sustainability” in February 2020).

5. Good resilience in down markets, with top quartile risk-adjusted return and rankings versus its reference indicator and peers4, over 1 year, 3 years and 5 years.

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An impressive track record over the short, medium and long-term

On 3rd February 2021, Carmignac Emergents celebrated its 24th anniversary with an impressive track record and strong 2020 performance: the Fund delivered +44.7% last year, significantly outperforming its Morningstar category and its reference indicator (by 38% and 36% respectively)4.

Carmignac Emergents: Navigating Emerging Markets since 1997

Reference indicator: MSCI EM (EUR) reinvested net dividends. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations. Source: Carmignac, 31/12/2020.

The Fund currently ranks in the 1st quartile of its Morningstar category for its Return, Information ratio, Sharpe ratio, Sortino ratio and Calmar ratio in 2020, over 3 years and over 5 years.

Carmignac Emergents: 1st quartile metrics over multiple period

Morningstar category: Global Emerging Markets Equity Source: Carmignac, Morningstar. © 2021 Morningstar, Inc - All rights reserved. 31/12/2020. Data in EUR, A EUR Acc share class. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations. Risk-free rate used: Daily capitalized EONIA. Information ratio measured against the MSCI EM NR index. Daily return used over one year, monthly for all other periods.

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Sustainability, an edge for alpha generation and risk management

Socially responsible investing has been at the core of Carmignac Emergents’ philosophy for several years now:
We target companies that make a positive contribution to society or the planet, by bringing solutions to environmental and social challenges within emerging countries.
We favour companies that have a low carbon footprint or show strong commitment to reducing their negative environmental impacts5.
We actively engage with companies before the initial investment, during the holding period, if/when controversies occur and through shareholder voting6.
We have broadened the list of exclusions (on top of firm wide exclusions) based on the Fund’s philosophy, process and Fund Managers’ convictions.
For more details please refer to our SRI guidelines documents, Transparency Code and Engagement Report available in the “Responsible Investment” section of our website.
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1As of 26/02/2021, the Fund held 50 holdings and had an active share of 84.23%. Portfolio composition may vary over time and without previous notice. 2Classification according to the European Sustainable Finance Disclosure Regulation (SFDR) 3For more information, visit [www.lelabelisr.fr/en](http://www.lelabelisr.fr/en "") and [www.towardssustainability.be](http://www.towardssustainability.be "") 4Reference indicator: MSCI EM (EUR) reinvested net dividends. Morningstar category: Global Emerging Market Equity. 5The Fund aims to achieve carbon emissions 30% lower than its reference indicator (MSCI EM NR USD Index). 6We target a 100% voting participation for 2021.

Performance

ISIN: FR0010149302
Carmignac Emergents1.418.8-18.624.744.7-10.7-15.69.54.63.5
Reference Indicator14.520.6-10.320.68.54.9-14.96.114.71.8
Carmignac Emergents+ 3.1 %+ 5.8 %+ 4.0 %
Reference Indicator+ 3.1 %+ 5.4 %+ 4.3 %

Source: Carmignac at 28 Feb 2025.
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).

Reference Indicator: MSCI EM NR index

Carmignac Emergents A EUR Ydis

ISIN: FR0011269349
Recommended minimum investment horizon
5 years
Risk indicator*
4/7
SFDR - Fund Classification**
Article 9

*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.

Main risks of the fund

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.Emerging Markets: Operating conditions and supervision in "emerging" markets may deviate from the standards prevailing on the large international exchanges and have an impact on prices of listed instruments in which the Fund may invest.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.Discretionary Management: Anticipations of financial market changes made by the Management Company have a direct effect on the Fund's performance, which depends on the stocks selected.
The Fund presents a risk of loss of capital.

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Advertising material. For professional investors only. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. This document does not constitute a subscription offer, nor does it constitute investment advice. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations. Carmignac Emergents is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law. Access to the Fund may be subject to restrictions with regard to certain persons or countries. The Fund is not registered in North America, nor is it registered in South America. The Fund has not been registered under the US Securities Act of 1933. The Fund may not be offered or sold, directly or indirectly, for the benefit or on behalf of a "U.S. person", according to the definition of the US Regulation S. The Fund presents a risk of loss of capital. The risks and fees are described in the KIIDs (Key Investor Information Document). The Fund’s prospectus, KIIDs, NAV and annual reports are available in English at www.carmignac.com. The KIID must be made available to the subscriber prior to subscription. In the United Kingdom, the Fund’s prospectus, KIIDs, NAV and annual reports are available in English at www.carmignac.co.uk, upon request to the Management Company or for the French Fund, at the offices of the Facilities Agent at BNP PARIBAS SECURITIES SERVICES, operating through its branch in London: 55 Moorgate, London EC2R. This material was prepared by Carmignac Gestion and/or Carmignac Gestion Luxembourg and is being distributed in the UK by Carmignac Gestion Luxembourg UK Branch (Registered in England and Wales with number FC031103, CSSF agreement of 10/06/2013). In Switzerland, the prospectus, KIIDs and annual report are available at www.carmignac.ch or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, CH-1260 Nyon. The paying agent is CACEIS Bank, Paris, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon.