Discover our new investment solution, based on a “buy and hold” carry strategy: Carmignac Credit 2025.
With interest rates at historical lows likely for a prolonged period, credit is, according to us, one of the rare asset classes that can still provide income with visibility
Carmignac Credit 2025 is a fund with a defined investment horizon that seeks to offer investors an alternative suited to these days of low, or even negative interest rates. It is designed for savers concerned with visibility regarding both the investment horizon and the performance target 1 , and who want to diversify the risks they are exposed to.
The Fund seeks to increase the value of the portfolio over a 5-year horizon, with a specific targeted annualised return for each category of units, as set out in the prospectus. 1
The objective does not constitute a promise of return or performance, the performance is not guaranteed. This objective relies on the realisation of the portfolio manager's market assumptions and does not constitute a promise of returns. Issuers' actual financial situation may be worse than expected and this may adversely affect the Fund's performance.
A rigorous selection of issuers from a vast investment universe
Carmignac Credit 2025 has been designed to seek to identify attractive risk premia across the globe to construct a broadly diversified, yet highly selective portfolio.
Investment Grade allocation
Maximum of 100%
High Yield allocation (speculative securities)
Maximum of 50%
Portfolio average rating
Minimum of BBB- or rating considered as equivalent by the management company
Emerging markets corporate-bond allocation 2
Maximum of 30%
Maximum of 40%
Currency risk exposure
Hedged - Euro
In constructing the portfolio, the Fund managers draw on both their convictions and an in-depth analysis of each opportunity examined. This same approach is used to calculate the targeted annualised return for the portfolio over the 5-year period from the Fund’s launch date to its maturity date. 1
A strategy in the hands of experts
The Fund benefits from the experience of our credit experts, at the helm of a strategy that already demonstrated its potential over the past three years 3 : Carmignac Portfolio Unconstrained Credit
Head of Credit, co-Fund Manager of
Carmignac Portfolio Unconstrained Credit
and Carmignac Credit 2025
16 years’ experience
Co-Fund Manager of Carmignac Portfolio
and Carmignac Credit 2025
13 years’ experience
Co-Fund Manager of Carmignac Credit 2025
14 years’ experience
Management team as of 30/09/2020. The Fund's Management Team may change over the Fund's lifespan.
Main risks of the Fund
CREDIT: Credit risk is the risk that the issuer may default.
INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.
LIQUIDITY: Temporary market distortions may have an impact on the pricing conditions under which the Fund might be caused to liquidate, initiate or modify its positions.
DISCRETIONARY MANAGEMENT: Anticipations of financial market changes made by the Management Company have a direct effect on the Fund’s performance, which depends on the stocks selected.
The Fund presents a risk of loss of capital.
Please refer to the Fund's prospectus to view the exhaustive list of risks.
The fund seeks to increase the value of the portfolio over a 5-year horizon using a bond carry strategy that includes both private and public issuers. The investment objective differs depending on the category of units subscribed, please refer to the prospectus or the KIID (Key Investor Information Document) of the Fund for further information. The objective does not constitute a promise of return or performance, the performance is not guaranteed.
*Source: Carmignac, 30/09/2020. SRRI from the KIID (Key Investor Information Document): scale from 1 (lowest risk) to 7 (highest risk); category-1 risk does not mean a risk-free investment. This indicator may change over time.
(1) For further information on the Fund’s management objective, please refer to the prospectus of the Fund. The objective does not constitute a promise of return or performance, the performance is not guaranteed.
(2) Investment in government or corporate bond issuers from outside the OECD, including emerging markets.
(3) Past performance is not necessarily indicative of future performance.