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Equity strategies

Carmignac Portfolio Climate Transition

ThematicESG Thematic Fund Article 8
Share Class

LU0164455502

A thematic equity Fund acting for climate change mitigation
  • Investing with a purpose : aiming to generate attractive returns on the long-term while having a positive environmental contribution.
  • Investing efficiently : targeting innovative companies across the whole renewable and green industry value chains.
Key documents
Monthly Factsheet
Asset Allocation
Equities86.6 %
Other13.4 %
Data as of:  28 Feb 2025.
Risk Indicator

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Lowest risk Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 179.6 %
- 8.8 %
+ 20.5 %
- 4.3 %
- 8.1 %
From 10/03/2003
To 07/03/2025
Calendar Year Performance 2024
- 16.2 %
+ 21.7 %
+ 5.5 %
- 17.7 %
+ 14.8 %
+ 4.5 %
+ 10.4 %
- 15.1 %
+ 1.8 %
+ 3.3 %
Net Asset Value
279.50 €
Asset Under Management
157 M €
Net Equity Exposure28/02/2025
76.7 %
SFDR - Fund Classification

Article

8
Data as of:  7 Mar 2025.
​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, for the shares which are not currency-hedged. 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.
Equity strategiesCarmignac Portfolio Climate Transition
Equity strategiesCarmignac Portfolio Climate Transition
Share Class

LU0164455502

Overview

Characteristics & Risks

Performance

Portfolio

ESG

Documents

Carmignac Portfolio Climate Transition 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:  28 Feb 2025.
Fund management team
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager

Market environment

  • Despite a robust beginning to 2025, February saw a decline in the favourable outlook for US exceptionalism.
  • Increasing uncertainty surrounding the US administration's policy agenda negatively impacted both corporate and consumer sentiment, reigniting concerns about economic growth.
  • The weak US performance weighed down developed market equities, resulting in the global markets delivering a return of -0.7% for the month.
  • The rise in US natural gas prices helped offset the decline in gold prices, leading to a 0.8% rise in the Bloomberg Commodity Index for the month.

Performance commentary

  • In February, the Fund experienced both an absolute and relative negative performance.
  • Relative to our broad reference indicator, our overweight position in the Technology sector was the primary detractor in February.
  • Specifically, TSMC, one of our top holdings, underperformed during the month due to ongoing global supply chain disruptions impacting the company's ability to meet demand, affecting their overall output and delivery schedules.
  • Our Green mobility sub-theme was the largest contributor to our performance, with BYD being the standout performer over the month after reporting a remarkable year-on-year surge in sales, driven by strong demand for both battery electric vehicles and plug-in hybrid electric vehicles.

Outlook strategy

  • During February, we readjusted our weightings in Green solution enabler theme by reducing our exposure to Ecolab and Advanced Micro Devices.
  • Our strong conviction in semiconductors remains intact.
  • We believe that our diversification across our sub-themes will enable us to better navigate this market environment.

Performance Overview

Data as of:  7 Mar 2025.
View Performance in detail
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). ​Morningstar Rating™ :  © YYYY 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. On 15/05/2020 the reference indicator changed to MSCI AC WORLD NR (USD) index net dividends reinvested. Performances are presented using the chaining method. The Fund’s name was changed from Carmignac Portfolio Green Gold to Carmignac Portfolio Climate Transition.​From 01/01/2013 the equity index reference indicators are calculated net dividends reinvested. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 10/03/2025

Carmignac Portfolio Climate Transition Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  28 Feb 2025.
North America57.3 %
Asia23.6 %
Europe18.7 %
Latin America0.3 %
Africa0.1 %
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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:  28 Feb 2025.
Equity Investment Weight86.6 %
Net Equity Exposure76.7 %
Number of Equity Issuers50
Active Share85.1 %

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] Wiskirski Michel

Michel Wiskirski

Fund Manager
Through Carmignac Portfolio Climate Transition, we are adopting a differentiated approach to climate change that reflects our sustainable philosophy. This position is in line with our first theme of ESG engagement: Climate.
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager
View Fund's characteristics
View characteristics and risks
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.
Carmignac Portfolio is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. 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.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.