Share Class
LU1299311164
A Fund geared for a changing world
- An unconstrained approach in terms of sectors, regions, or investment style.
- Stock selection based on companies that excel, are undervalued, and display a long-term potential.
Key documents
Asset Allocation
Equities98.2 %
Other1.8 %
Data as of: 31 Jan 2025.
Risk Indicator
1
2
3
4
5
6
7
Lowest risk
Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 101.4 %
0.0 %
+ 62.1 %
+ 43.3 %
+ 18.6 %
To 20/02/2025
Calendar 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 2023Calendar Year Performance 2024
- 1.7 %
+ 2.1 %
+ 4.7 %
- 14.0 %
+ 25.1 %
+ 34.6 %
+ 4.5 %
- 17.9 %
+ 19.4 %
+ 25.5 %
Net Asset Value
201.36 €
Asset Under Management
230 M €
Market
Global market
SFDR - Fund Classification
Article
8
Data as of: 31 Jan 2025.
Data as of: 20 Feb 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.
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: 31 Jan 2025.Fund management team
Kristofer Barrett
Head of Global Equities, Fund Manager
Performance commentary
- In this context, the fund delivered a positive performance, also outperforming its reference indicator in January.
- After a difficult end to the year for the healthcare sector, stocks recovered some of their losses on the stock market, which benefited our Centene and Cencora holdings during this period.
- We also benefited from our emerging diversification with Taiwanese foundry leader TSMC, South Korean semiconductor memory specialist SK Hynix and Brazilian online retailer MercadoLibre.
- Despite a very good start to the year for technology companies, the share prices of US companies investing in artificial intelligence (Nvidia, Broadcom and Microsoft) fell after China's DeepSeek announced its impressive performance and development costs.
Outlook strategy
- The fundamentals for 2025 appear solid for the equities markets, supported by resilient US growth, accommodative monetary policies and an expected 14% rise in profits for S&P 500 companies.
- However, increased volatility is to be expected due to current valuation levels and the unpredictability of Trump's announcements.
- Our Fund is therefore adopting a more selective approach, with a diversified positioning between high-growth stocks with relatively high valuations and stocks offering more modest growth prospects but benefiting from high visibility and attractive valuations (McKesson, SK Hynix).
- DeepSeek has highlighted the possibility of significantly reducing the costs of AI. However, this could accelerate the adoption of AI and a wide range of applications and use cases are likely to emerge. We therefore maintain a diversified positioning along the value chain.
- The Fund also has significant exposure to the industrial sector, as illustrated by our new position in Prysmian, the world leader in power distribution cables.
Performance Overview
Data as of: 20 Feb 2025.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. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 22/02/2025
Carmignac Portfolio Investissement Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: 31 Jan 2025.| North America | 66.5 % |
| Asia | 20.6 % |
| Europe | 9.3 % |
| Latin America | 2.3 % |
| Asia-Pacific | 1.3 % |
| Total % Equities | 100.0 % |
North America66.5 %
 USA | 63.8 % |
 Canada | 2.8 % |
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: 31 Jan 2025.Equity Investment Weight98.2 %
Net Equity Exposure92.8 %
Number of Equity Issuers70
Active Share79.0 %
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.The Fund’s prospectus, KIDs and annual reports are available at www.carmignac.ch, or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, P.O. Box 2259, CH-1260 Nyon. The paying agent is CACEIS Bank, Montrouge, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon.
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.
Market environment