The members of the Board of Directors (the "Board") of CARMIGNAC PORTFOLIO, a société d’investissement à capital variable (open-ended investment company) incorporated under Luxembourg law, governed by part I of the law of 17 December 2010 on undertakings for collective investment (“UCIs”), and hereinafter referred to as “the Company”, hereby inform you of the following amendments to the Company’s prospectus dated February 2014.
Carmignac Group appoints Obe Ejikeme as a Quantitative Equity analyst
With the hiring of Obe Ejikeme, Carmignac Group further strengthens the expertise of its fund management team
Obe Ejikeme, 33, joins Carmignac Group’s fund management team as Quantitative Equity analyst.
He spent 7 years as a research analyst at Bank of America Merrill Lynch where he was Head of European Equity and Quantitative Strategy. Previously, he spent 4 years at FactSet Research Systems where he was a Senior Consultant covering sell-side quant research firms.
Obe is based in London and works in the Cross Asset team headed by Frédéric Leroux. His extensive quantitative skills will be particularly useful for the management of derivatives as well as to bring a sector allocation source of performance between the macro-view and the stock picking, notably for the Multi-Assets strategic funds.
Obe Ejikeme has a Bachelors degree in Computer Science from the University of Hull.
Carmignac Group will soon have access to the Chinese domestic market
The French Ministry of Finance has announced that Carmignac and BNP Paribas IP are the only two companies in France, and in the eurozone, to have been granted a RQFII licence (Renminbi Qualified Foreign Institutional Investor).
This licence, issued by the China Securities Regulatory Commission (CSRC) in a move to relax the country’s investment restrictions, gives access to A shares and local bonds denominated in RMB. The management company will subsequently be allocated a specific investment quota.
The Carmignac Group embarked on this endeavour in a bid to expand its investment universe to the Chinese domestic market where bond issuance amounts to USD 5,000 billion and the market capitalisation of the equity market is USD 4,000 billion, i.e. more than twice that of Chinese companies listed abroad, not to mention the many stocks that are not listed outside China at all. The Carmignac Group, which has long been active on emerging markets, will be able to tap into new investment opportunities linked to the growth of the Chinese economy.
According to Haiyan Li-Labbé, China analyst at Carmignac: “The reforms embarked upon by the Chinese government are a short-term hurdle but offer excellent long-term potential, which is where we want to be able to position ourselves effectively.”
These local equities and bonds will contribute to the performance of the Carmignac fund range.