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Carmignac

Ten things you should know about Carmignac P. Emerging Patrimoine

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On 31 March 2021, the Fund celebrated its 10th anniversary. (Re)Discover the features which make this Emerging Market allocation fund so unique:

  • 1. A “Patrimoine” philosophy

    The Fund seeks to capture the upside of Emerging Markets while mitigating the downsides, making it a unique solution for investors seeking a diversified, whilst cautious, emerging-market exposure.

  • 2. A multi-asset approach

    The Fund combines three performance drivers (equities, bonds and currencies) and is non-benchmarked, enabling the Fund Managers to invest freely across Emerging Markets and take advantage of decorrelation among the different asset classes, regions and sectors.

  • 3. A selective process

    The Fund Managers develop a clear and distinct view on each asset class within each country and choose investments that match their strict selection criteria and which they strongly believe will continue to grow over the long-term.

  • 4. A socially responsible investment (SRI) lens

    A strong SRI process for all asset classes (equities, corporate and sovereign bonds), which favours the selection of countries and companies that deliver solutions to environmental and social challenges1.

  • 5. Active, flexible management

    The Fund’s ability to vary the equity exposure from 0 to 50% and modified duration range from -4 to +10, as well as its net currency exposure (-25% to 100%), give the Fund Managers the flexibility they need to swiftly adapt to changing market conditions.

  • 6. An experienced team

    Xavier and Joseph have been co-managing the Fund for over 5 years. They work closely with the rest of the management team to seize the most attractive opportunities, drawing on Carmignac’s longstanding expertise in Emerging Markets and flexible asset management.

  • 7. An outstanding 2020 performance with lower volatility

    Last year, the Fund generated a +20.4% performance versus +1.5% for its reference indicator and +1.6% for its Morningstar category2 with a lower volatility.

  • 8. An appealing risk/return positioning

    The Fund ranks in the 1st quartile of its Morningstar category for its return, volatility, Sharpe ratio, Sortino ratio and Calmar ratio over the short, medium and long term (1, 3 and 5 years)3.

  • 9. A strong resilience in down markets

    The Fund ranks in the 1st quartile over 1, 3 and 5 years for its maximum drawdown, and has a lower maximum drawdown than most Emerging Markets indices over 5 years4.

  • 10. A recognized investment approach

    The Fund has the French sustainable label “Label ISR”; is rated 5 stars by Morningstar over 3 years, 5 years and overall; and its Fund Managers are both rated AA by Citywire5.

Carmignac

For more information on the Fund’s characteristics, socially responsible investment approach, performance and positioning:

Visit the Fund page

(1) The Fund is classified as an Article 8 fund according to the European Sustainable Finance Disclosure Regulation (SFDR). (2) Data as at 31/12/2020. Reference indicator: 50% MSCI EM (EUR) (Reinvested net dividends) + 50% JP Morgan GBI-EM (EUR). Quarterly rebalanced. Morningstar Category: Global Emerging Markets Allocation. (3) Data in EUR as at 31/01/2021, daily step. Morningstar Category: Global Emerging Markets Allocation. Risk free rate used is daily capitalised EONIA. Sortino Ratio: The Sortino ratio measures the excess return over the risk-free rate divided by the downside deviation. It thus shows the marginal return per unit of downside risk. Calmar Ratio: The Calmar ratio measures the return divided by the maximum drawdown. (4) Data as EUR as at 31/01/2021. MSCI EM, MSCI China, JPM GBI EM index, JPM EMBI indices. (5) French socially responsible investment label obtained in January 2019. For more information, visit www.lelabelisr.fr/en. Morningstar rating as at 28/02/2021. Morningstar Direct © 2021 Morningstar, Inc. All Rights Reserved. Xavier Hovasse and Joseph Mouawad are AA-rated by Citywire for their rolling three-year risk-adjusted performance across all funds they are managing to 28th February 2021. Citywire Fund Manager Ratings and Citywire Rankings are proprietary to Citywire Financial Publishers Ltd (“Citywire”) and © Citywire 2021. All rights reserved. For the A EUR Acc share class (ISIN: LU0592698954). Sources: Carmignac, Morningstar. 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. The reference to a ranking or prize is no guarantee of the future results of the UCIS or the manager.

Carmignac Portfolio Emerging Patrimoine A EUR Acc

ISIN: LU0592698954
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 (YTD)
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Year to date
Carmignac Portfolio Emerging Patrimoine A EUR Acc +5.26 % +0.17 % +9.76 % +7.30 % -14.37 % +18.56 % +20.40 % -5.22 % -9.58 % +7.78 % +1.60 %
Reference Indicator +9.38 % -5.09 % +13.97 % +10.58 % -5.84 % +18.23 % +1.51 % +1.61 % -8.39 % +6.65 % +2.01 %

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3 Years 5 Years 10 Years
Carmignac Portfolio Emerging Patrimoine A EUR Acc -2.12 % +4.89 % +3.71 %
Reference Indicator -0.18 % +2.32 % +4.05 %

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Source : Carmignac at 28/03/2024

Entry costs : 4,00% of the amount you pay in when entering this investment. This is the most you will be charged. Carmignac Gestion doesn't charge any entry fee. The person selling you the product will inform you of the actual charge.
Exit costs : We do not charge an exit fee for this product.
Management fees and other administrative or operating costs : 1,81% of the value of your investment per year. This estimate is based on actual costs over the past year.
Performance fees : 20,00% when the share class overperforms the Reference indicator during the performance period. It will be payable also in case the share class has overperformed the reference indicator but had a negative performance. Underperformance is clawed back for 5 years. The actual amount will vary depending on how well your investment performs. The aggregated cost estimation above includes the average over the last 5 years, or since the product creation if it is less than 5 years.
Transaction Cost : 0,71% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the investments underlying the product. The actual amount varies depending on the quantity we buy and sell.

Carmignac Portfolio Emerging Patrimoine F CHF Acc Hdg

ISIN: LU0992631720

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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.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CREDIT: Credit risk is the risk that the issuer may default.

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.

The Fund presents a risk of loss of capital.