Equity strategies

Carmignac Portfolio Investissement

SICAVGlobal marketSRI Fund Article 8
Share Class

LU0992625839

A Fund geared for a changing world
  • An international equity Fund offering an exposure to companies that thrive in an evolving global world.
  • An opportunistic approach aiming at benefiting from the most promising market dynamics and trends.
Key documents
Asset Allocation
Equities96.6 %
Other3.4 %
Data as of:  31 May 2024.
Risk Indicator
4/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 129.5 %
+ 123.6 %
+ 83.1 %
+ 16.0 %
+ 28.1 %
From 15/11/2013
To 13/06/2024
Calendar Year Performance 2023
+ 11.3 %
+ 1.5 %
+ 2.8 %
+ 5.4 %
- 13.5 %
+ 25.8 %
+ 35.3 %
+ 5.2 %
- 17.4 %
+ 20.2 %
Net Asset Value
229.5 €
Asset Under Management
252 M €
Market
Global market
SFDR - Fund Classification

Article

8
Data as of:  13 Jun 2024.
​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.

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 May 2024.
Fund management team

Kristofer Barrett

Fund Manager

Market environment

  • The United States and Europe are starting to diverge at macroeconomic and monetary policy levels.

  • Although the US economy remains firm, signs of cooling were observed in May.

  • In Europe, PMIs published during the month confirmed an improvement in economic activity.

  • The downward trend for US interest rates helped growth stocks.

  • Nvidia continued to benefit from investors’ excitement about artificial intelligence after publishing its results.

Performance commentary

  • The Fund delivered a positive return but trailed its reference indicator in May, though it did maintain a clear lead year-to-date.

  • Healthcare stocks were the main drag on performance as a number of our top holdings (Baxter, Lonza) showed weakness.

  • Nvidia was the top contributor as its quarterly results surpassed investors’ expectations.

  • Performances in the technology sector were mixed, with Samsung suffering from stiff competition with SK Hynix.

Outlook strategy

  • Since Kristofer Barrett took the reins, the Fund has been transformed with the addition of some 30 stocks and removal of a dozen others.

  • Although he is keeping the emphasis on profitable trends in artificial intelligence and healthcare, he has diversified the portfolio all along the value chain.

  • We have reduced investments in momentum stocks with high price multiples, and this has decreased the portfolio’s average valuation.

  • The US company Applied Materials was among the many names added to the portfolio. It is a major supplier to TSMC and Samsung.

Performance Overview

Data as of:  13 Jun 2024.
​Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). Morningstar Rating™ :  © 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.
Source: Carmignac at 15/06/2024

Carmignac Portfolio Investissement Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  31 May 2024.
North America57.3 %
Europe22.6 %
Asia16.6 %
Asia-Pacific1.8 %
Latin America1.7 %
Total % Equities100.0 %
North America57.3 %
usUSA
55.6 %
caCanada
1.7 %

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 May 2024.
Equity Investment Weight96.6 %
Net Equity Exposure96.6 %
Number of Equity Issuers71
Active Share76.0 %

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

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.
View Fund's characteristics
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.
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.