Summary

As an active owner, we engage with our investee companies to influence them to appropriately manage ESG risks as well as seize ESG opportunities. By exercising our voting rights, we affirm our engagement in line with our sustainable approach during shareholder meetings. We use our voting rights and target 100% voting across all our equity and bond holdings.

Summary

As a responsible investor, we consider part of our fiduciary duty is to actively manage ESG risks and opportunities when investing on behalf of our clients.
We integrate ESG analysis into our equities and fixed income investment process via our proprietary ESG research system START (System for Tracking and Analysis of a Responsible Trajectory), which incorporates human insight and differentiated ESG data sources.

Summary

As part of our commitment to ensure complete transparency of our investments to our clients, we welcome the European Sustainable and Responsible Investing Transparency Code, which aims to disclose the practices of our SRI (1) Funds and Thematic ESG Funds.
These are the second statements of commitment for the European and Emerging Market Funds, and the first statement for our Global Equity Funds.

(1) Socially Responsible Investment funds.

Summary

We believe our investments should be made in companies with sustainable business models and which are exhibiting long-term growth perspectives. As such, we have compiled an exclusion list with companies that do not meet Carmignac’s investment standards, due to their activity in areas such as controversial weapons, tobacco, adult entertainment and thermal coal producers (1), or because they contravene global standards on environmental protection, human rights, labour standards, and anti-corruption. (2) Furthermore, Carmignac has committed to a total exit of coal mining and coal-fired power generating companies by 2030 across OECD countries and the rest of world.

(1) Thermal coal producers with +10% revenues from thermal coal extraction are excluded from all our funds. (2) Companies contravening global norms on environmental protection, human rights, labour standards and anti-corruption, based on the ISS-Ethix Norm-Based Research.

Summary

We have made climate awareness a formal component of our investment process, joining the efforts undertaken as part of the Paris Agreement and applying article 173 on carbon reporting and ESG implementation across our Funds. (1) As of 31/12/2020, €21.8 billion was measured and monitored in terms of carbon emissions. (2) The carbon footprint of these investments was 53% lower than their reference indicators per million EUR invested.

(1) Article 173 of the French Energy Transition Law (Law n° 2015-992 of August 17, 2015 on energy transition for green growth). (2) Carmignac funds for which carbon emissions are measured and monitored.

Summary

As part of being a responsible investor, we believe it is important to understand the sustainability outcomes that we have caused, have contributed to, and are directly linked to. This Policy underpins our work looking at environmental and social good and harm.

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Advertising material. This material may not be reproduced, in whole or in part, without prior authorisation from the management company. It does not constitute a subscription offer, nor does it constitute investment advice. The information contained in this material may be partial information and may be modified without prior notice. Access to the Funds may be subject to restrictions with regard to certain persons or countries. The Funds are not registered in North America, in South America, in Asia nor are they registered in Japan. The Funds are registered in Singapore as restricted foreign scheme (for professional clients only). The Funds have not been registered under the US Securities Act of 1933. The Funds may not be offered or sold, directly or indirectly, for the benefit or on behalf of a "U.S. person", according to the definition of the US Regulation S and/or FATCA. The Funds present a risk of loss of capital. The risks and fees are described in the KIIDs (Key Investor Information Document). The Funds' respective prospectuses, KIIDs and annual reports are available at www.carmignac.com or upon request to the Management Company. The KIIDs must be made available to the subscriber prior to subscription. The investor should read the KIID for further information. • Switzerland: The Funds present a risk of loss of capital. The risks and fees are described in the KIIDs (Key Investor Information Document). The Fund’s respective prospectuses, KIIDs and annual reports are available at www.carmignac.ch or through our representative in Switzerland, CACEIS (Switzerland), S.A., Route de Signy 35, CH-1260 Nyon. The paying agent is CACEIS Bank, Paris, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon. • United Kingdom: The Funds' respective prospectuses, KIIDs, NAV and annual reports are available in English at www.carmignac.co.uk, upon request to the Management Company, or, for the French Funds at the offices of the Facilities Agent at BNP PARIBAS SECURITIES SERVICES, operating through its branch in London: 55 Moorgate, London EC2R. This material was prepared by Carmignac Gestion and/or Carmignac Gestion Luxembourg and is being distributed in the UK by Carmignac Gestion Luxembourg UK Branch (Registered in England and Wales with number FC031103, CSSF agreement of 10/06/2013).