After more than a decade of very low and even negative interest rates, the horizon has cleared for bonds and yields have become attractive once again. The gradual fall in Eurozone inflation has enabled the European Central Bank to start cutting its interest rates. What consequences for investors and what strategy should they adopt?
Marie-Anne Allier and Aymeric Guedy, co-Fund Managers of Carmignac Sécurité, explain the impact of current market conditions on the Fund, and describe their positioning for the quarters ahead:
*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.
Carmignac Sécurité | 1.7 | 1.1 | 2.1 | 0.0 | -3.0 | 3.6 | 2.0 | 0.2 | -4.8 | 4.1 |
Reference Indicator | 1.8 | 0.7 | 0.3 | -0.4 | -0.3 | 0.1 | -0.2 | -0.7 | -4.8 | 3.4 |
Carmignac Sécurité | + 1.1 % | + 1.1 % | + 0.9 % |
Reference Indicator | + 0.2 % | - 0.1 % | - 0.0 % |
Source: Carmignac at 31 Oct 2024.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).
MARKETING COMMUNICATION. Please refer to the KID/prospectus of the Fund before making any final investment decisions. This document is intended for professional clients.
This document is intended for professional clients. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. It does not constitute a subscription offer, nor does it constitute investment advice. The information contained in this document may be partial information and may be modified without prior notice. The decision to invest in the promoted fund should consider all its characteristics or objectives as described in its prospectus. The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager. Carmignac Sécurité is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law. 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 because of currency fluctuations. 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. Access to the Fund may be subject to restrictions regarding certain persons or countries. The Fund is not registered in North America, South America, Asia, or Japan. The Funds are registered in Singapore as a restricted foreign scheme (for professional clients only). 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 and/or FATCA. The Fund presents a risk of loss of capital. The risks and fees are described in the KID (Key Information Document). The Fund’s prospectus, KID and annual reports are available at www.carmignac.com, or upon request to the Management Company. The KID must be made available to the subscriber prior to subscription.
• In Switzerland, the Fund’s prospectus, KID, and annual reports 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, Montrouge, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon. The KID must be made available to the subscriber prior to subscription. The Management Company can cease promotion in your country anytime. Investors have access to a summary of their rights in French, English, German, Dutch, Spanish, Italian at the following link “Summary of investor rights”): https://www.carmignac.com/en_US/article-page/regulatory-information-1788.