Carmignac Credit 2025 is a target maturity fund implementing a “buy and hold” carry strategy that includes both private and public issuers. The Fund benefits from both the strong expertise of its management team and a disciplined investment process, that enables a rigorous selection of securities. Carmignac Credit 2025 seeks to increase the value of the portfolio over a 5-year horizon, with a specific targeted annualised return for each category of units.
The investment objective differs depending on the category of units subscribed.
For the A EUR Acc and A EUR Ydis units, the investment objective is to generate an annualised performance greater than 1.90%, recorded between these units inception date (30 October 2020) and maturity date (31 October 2025).
For the E EUR Acc and E EUR Ydis units, the investment objective is to generate an annualised performance greater than 1.60%, recorded between these units inception date (30 October 2020) and maturity date (31 October 2025).
For the F EUR Acc and F EUR Ydis units, the investment objective is to generate an annualised performance greater than 2.30%, recorded between these units’ inception date (30 October 2020) and maturity date (31 October 2025).
Annualised performance, generated mainly by the bond carry strategy, is understood as net of management fees. It takes into account the estimate of any foreign exchange hedging costs, defaults calculated by the management company, and any capital losses realised on the resale of certain instruments before their maturity.
This objective is based on the fulfilment of market assumptions made by the management company at a particular time (probability of default, debt recovery rate, exercise of early redemption options, depreciation, hedging costs, etc.) that might cease to be valid, which would prevent the fund’s performance from reaching its target. Under no circumstances does it constitute an undertaking on the yield or performance of the fund; the performance is not guaranteed.
1
2
3
4
5
6
7