DOCSLIB.ORG

Carmignac Portfolio

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Carmignac Portfolio CARMIGNAC PORTFOLIO SICAV Audited annual report as at 31/12/18 R.C.S. Luxembourg B 70 409 Database Publishing System: CO-Reporter® by CO-Link, Belgium. CARMIGNAC PORTFOLIO Table of contents Page Organisation 4 General Information 5 Management Report 6 Audit report 57 Combined 60 CARMIGNAC PORTFOLIO Grande Europe 63 CARMIGNAC PORTFOLIO Commodities 69 CARMIGNAC PORTFOLIO Emerging Discovery 76 CARMIGNAC PORTFOLIO Unconstrained Global Bond 84 CARMIGNAC PORTFOLIO Capital Plus 91 CARMIGNAC PORTFOLIO Emerging Patrimoine 100 CARMIGNAC PORTFOLIO Emergents 108 CARMIGNAC PORTFOLIO Euro-Entrepreneurs 116 CARMIGNAC PORTFOLIO Long-Short European Equities (formerly Euro-Patrimoine) 122 CARMIGNAC PORTFOLIO Investissement 129 CARMIGNAC PORTFOLIO Patrimoine 137 CARMIGNAC PORTFOLIO Sécurité 148 CARMIGNAC PORTFOLIO Investissement Latitude 160 CARMIGNAC PORTFOLIO Capital Cube 167 CARMIGNAC PORTFOLIO Active Risk Allocation (liquidated on 30/11/18) 174 CARMIGNAC PORTFOLIO Unconstrained Credit 177 CARMIGNAC PORTFOLIO Unconstrained Emerging Markets Debt 183 CARMIGNAC PORTFOLIO Patrimoine Europe 188 CARMIGNAC PORTFOLIO Flexible Allocation 2024 194 CARMIGNAC PORTFOLIO Long-Short Global Equities 199 Page 2 CARMIGNAC PORTFOLIO Table of contents Page Notes to the financial statements - Statement of derivative instruments 202 Other notes to the financial statements 240 Unaudited information 260 No subscription may be accepted on the basis of the financial reports. Subscriptions are only valid if made on the basis of the current prospectus, accompanied by the latest annual report and the latest semi-annual report if published after the annual report. Page 3 CARMIGNAC PORTFOLIO Organisation Registered Office: CARMIGNAC PORTFOLIO, 5, Allée Scheffer, L-2520 Luxembourg Board of Directors: Chairman Mr. Edouard CARMIGNAC Managing Director of Carmignac Gestion S.A. Director of Carmignac Gestion Luxembourg S.A. Directors Mr. Jean-Pierre MICHALOWSKI Senior Country Officer of Credit Agricole at Singapore Mr. Eric HELDERLE Director and Chairman of the Board of Directors of Carmignac Gestion Luxembourg S.A. Deputy Managing Director of Carmignac Gestion S.A. Board of Directors of the Management Company: Director and Chairman of the Board of Directors Mr. Eric HELDERLE Directors Mr. Edouard CARMIGNAC Mr. Cyril de GIRARDIER Delegates for day-to-day management Mr. Eric HELDERLE Mr. Giorgio VENTURA Mr. Mischa CORNET Mr. Cyril de GIRARDIER Mr. Jean-Yves LASSAUT Depositary Bank: BNP Paribas Securities Services, Luxembourg Branch, 60, Avenue J.F. Kennedy, L-1855 Luxembourg Domiciliary Agent, Administrative Agent, Registrar & Transfer Agent and Paying Agent: CACEIS Bank, Luxembourg Branch, 5, Allée Scheffer, L-2520 Luxembourg Management Company: Carmignac Gestion Luxembourg S.A., 7, rue de la Chapelle, L-1325 Luxembourg Invesment Manager: Carmignac Gestion S.A., 24, Place Vendôme, 75001 Paris, France Carmignac Gestion Luxembourg S.A., London Branch Distribution agent: Carmignac Gestion Luxembourg S.A., 7, rue de la Chapelle, L-1325 Luxembourg Auditor: PricewaterhouseCoopers, Société coopérative, 2, rue Gerhard Mercator, L-2182 Luxembourg Financial services: In Luxembourg : CACEIS Bank, Luxembourg Branch, 5, Allée Scheffer, L-2520 Luxembourg In France : CACEIS Bank, 1-3 place Valhubert, F-75013 Paris Representative and Distributor for Switzerland: CACEIS (Switzerland), S.A., Route de Signy 35, CH-1260 Nyon, Suisse Paying agent for Switzerland: CACEIS Bank, Paris, succursale de Nyon, Route de Signy 35, CH-1260 Nyon, Suisse The Articles of Incorporation, the prospectus, the annual and semi-annual reports and the list of purchases and sales made for the fund during the financial year may be obtained free of charge from the representative in Switzerland and from the SICAV's registered office. Page 4 CARMIGNAC PORTFOLIO General Information The Articles of Incorporation and the legal notice of CARMIGNAC PORTFOLIO (the "SICAV") are filed with the Registry of the District Court of and in Luxembourg, where any interested person may consult them or obtain a copy thereof. The SICAV is registered in the Luxembourg Trade and Companies Register under number B 70 409. The issue prospectuses and the semi-annual and annual reports may be obtained free of charge from the institutions responsible for the SICAV's financial services, as well as from the SICAV's registered office. The net asset value is established each common bank business day in Luxembourg and Paris. The net asset value as well as the issue and redemption prices may also be obtained at the SICAV's registered office and from the institutions responsible for its financial services as well as on Carmignac Gestion's website at the following address: www.carmignac.com. All notices to holders of shares are published in the "d'Wort" as well as, insofar as Luxembourg law so requires, in the Mémorial. The financial year begins on 1 January and ends on 31 December. Page 5 CARMIGNAC PORTFOLIO Grande Europe Management Report Performance commentary In 2018, Carmignac Portfolio Grande Europe (Category A EUR Acc - ISIN LU0099161993) had negative performance of -9.56%, nevertheless better than that of its reference indicator¹ which dropped by -10.77%. European markets had a year that was punctuated by economic and political uncertainties. After having touched a low point in March, they bounced back, helped by the fall in the euro, which improved the competitiveness of European companies. Investors temporarily overcame their worries about American customs threats and the weakening of certain economic statistics in Europe. These concerns nevertheless appeared again, with investor sentiment changing with the announcements of President Trump in his trade war, the news surrounding the 2019 budget crisis faced by the new Italian government and, lately, the position of the US Federal reserve suggesting the probability of a continuation of its monetary tightening. At the same time, although European economic indicators dropped overall, the profitability of companies held up well in 2018. The initial forecasts of an increase in profitability of around 7% to 8% in 2018 appear correct, but we think that the current anticipation of a consensus on a similar increase in 2019 is too optimistic, given the circumstances. Nevertheless, the prices of European stocks are already reflecting a slowdown, and valuations are in line with low historical averages. This being the case, we intend to remain with our approach, which consists of seeking advantageous investment opportunities, and, in spite of problems at the worldwide level and moderate economic growth in Europe, we identify numerous possibilities for the selection of securities. Thus, over 2018, we retained significant exposure to innovative and high added-value sectors, such as technology and health. The latter significantly contributed to performance over the period. Amongst those with which we are satisfied, Argenx and Morphosys, two of our positions in companies of modest size, presented very sound clinical data concerning their respective treatments for leukaemia during the large annual conference devoted to this illness, and their prices clearly increased subsequently. We are continuing to prefer such innovations within the pharmaceutical products sector, which are often poorly understood and undervalued by investors. However, our investments in finance (AIB Group, Prudential PLC), technology (SAP) and industry (ELIS, Weir Group PLC), were detrimental to performance. In spite of an atypical year 2018, characterised by sharp adjustment of market actions resulting from the collision between the three cycles, economic, monetary and political, which penalised our share portfolio, Carmignac Portfolio Grande Europe demonstrated a certain resilience in relation to its reference indicator. We are therefore maintaining our portfolio construction, backed by our management process, which is based essentially upon the selection of securities, favouring companies with sound yield on invested capital, and we are confident for the forthcoming year. ¹Stoxx 600 (EUR) – Net dividends reinvested Page 6 CARMIGNAC PORTFOLIO Grande Europe Management Report Summary table of the annual performance of each category of Carmignac Portfolio Grande Europe open over the whole of 2018 Reference 2018 annual Categories ISIN Currency indicator performance performance A EUR ACC LU0099161993 EUR -9.56% -10.77% E EUR ACC LU0294249692 EUR -10.28% -10.77% W GBP ACC HDG LU0553405878 GBP -8.34% -10.77% A CHF ACC HDG LU0807688931 CHF -9.96% -10.77% A USD ACC HDG LU0807689079 USD -7.49% -10.77% A EUR YDIS LU0807689152 EUR -9.56% -10.77% E USD ACC HDG LU0992628775 USD -9.60% -10.77% F EUR ACC LU0992628858 EUR -9.61% -10.77% F CHF ACC HDG LU0992628932 CHF -9.37% -10.77% F USD ACC HDG LU0992629070 USD -6.66% -10.77% W GBP ACC LU1299301280 GBP -7.94% -9.77% W EUR ACC LU1623761951 EUR -8.95% -10.77% Past performance is no guide to future performance. Communication of Environmental, Social and Governance criteria (ESG) Carmignac Portfolio Grande Europe invests with the aim of achieving sustainable long-term growth through an investment approach that is socially responsible. The details concerning the application of the socially-responsible investment approach are accessible on the following Internet site: www.carmignac.com. Under our commitment to PRI ("Principles for Responsible Investment"), our portfolios are analysed by MSCI through three main aspects of socially-responsible investment based on environmental, social and governance criteria. Carmignac
Load more

Recommended publications
  • BBH Market Practice Report: Singapore As of April
    CARMIGNAC_UCITS SSI_dated 3rd February 2021 Internal DE Country Sub-custodian Name - Town BIC code Account name Securities acct BP2S Bic Code Cash acct Local code(s) and information Number BNP Paribas Securities Services CHESS Participant ID (PID): 01892 Australia PARBAU2SXXX BP2S Luxembourg / Carmignac Portfolio PARBLU21003 PARBLU21003 220008903 Australia Branch, Sydney Austraclear Code: BPSS20 Austria BNP PARIBAS Securities Services, participation code in Central Securities Depositary (OeKB) : 242200 PARBDEFFXXX BP2S Luxembourg / Carmignac Portfolio PARBLU21003 PARBLU21003 7003938880 Frankfurt 11 digits BIC Code - PARBDEFFXXX is replacing the local code CIKB 10410019 47475N IBAN : FR9441329000010000047475N27 Belgium Counterparties need to mention BIC code PARBFRPPXXX in the agent field. BNP Paribas Securities Services, PARBFRPPXXX BP2S Luxembourg / Carmignac Portfolio PARBLU21003 PARBLU21003 This will replace the local code EGSP 30. Paris RIB: Code Banque/Code Guichet/Num compte/Clé Please inform your counterparties in NBB that the BNP Paribas Securities 41329 00001 0000047475N 27 Services BIC 11 code is PARBFRPPXXX as their counterpart in instructions. BPSS LUX/CLIENT ASSETS - SI FX EUR/UCITS ASSETS 057583500003 PARBLULLXXX L0203 Standard Chartered Bank Côte Benin SCBLCIABSSU 01 051 006586 00 CSD: 17446 d’Ivoire SA BPSS LUX/CLIENT ASSETS - SI FX USD/UCITS ASSETS 057583500005 PARBLULLXXX L0206 BANK OF BERMUDA, Bermudes BBDABMHMXXX BPSS LUX/CLIENT ASSETS/UCITS ASSETS 011-143682-531 PARBLULLXXX 010-159267-065 L426E Bermuda BPSS LUX/CLIENTS
    [Show full text]
  • Where Do Asset Management Ceos Come From?
    WHERE DO ASSET MANAGEMENT CEOs COME FROM? KEY FINDINGS FROM AN ANALYSIS OF CEO CAREER DYNAMICS METHODOLOGY This study presents key findings from an analysis of the profiles and career paths of CEOs in the asset management industry Our analysis included 96 CEOs across 46 large firms and 46 boutique asset management firms. Summary of key findings CEOs of large asset management firms: Of the 48 CEOs profiled1, 37 (77%) have been appointed since 2006. Spikes in CEO appointments occurred in North America during the financial crisis and in 2012 in Europe, possibly due to profits failing to recover to pre-financial crisis levels. Approximately 29% were externally appointed, roughly in line with other industries. While buy-side experience is prevalent among these CEOs, over half have never held an investment role in their career. There are differences in profiles between CEOs of independent, bank-linked and insurance- linked firms. Bank-linked CEOs often come from buy-side and other non-asset management- related parts of financial services. In contrast, CEOs at both independent and insurance-linked firms tend to come from within the asset management industry, most commonly serving as the CEO with a smaller firm prior to assuming their current role. Only one in five CEOs have international experience, which is notably lower than in other parts of financial services. For comparison, in insurance three in five CEOs have international experience. CEOs of boutique asset management firms: While the CEOs of boutique firms on multi-manager platforms are primarily promoted internally (similar to large firms), the majority of CEOs of independent asset managers are founders.
    [Show full text]
  • Carmignac Portfolio
    CARMIGNAC PORTFOLIO SICAV Audited annual report as at 31/12/20 R.C.S Luxembourg B 70 409 Database Publishing System: CO-Reporter® by CO-Link, Belgium. CARMIGNAC PORTFOLIO Table of contents Page Organisation 4 General Information 6 Management Report 7 Audit Report 109 Combined 112 CARMIGNAC PORTFOLIO Grande Europe 115 CARMIGNAC PORTFOLIO Green Gold (formerly Commodities) 121 CARMIGNAC PORTFOLIO Emerging Discovery 128 CARMIGNAC PORTFOLIO Unconstrained Global Bond 136 CARMIGNAC PORTFOLIO Unconstrained Euro Fixed Income 143 CARMIGNAC PORTFOLIO Emerging Patrimoine 153 CARMIGNAC PORTFOLIO Emergents 162 CARMIGNAC PORTFOLIO Euro-Entrepreneurs (merged on 16/11/20) 169 CARMIGNAC PORTFOLIO Long-Short European Equities 172 CARMIGNAC PORTFOLIO Investissement 179 CARMIGNAC PORTFOLIO Patrimoine 187 CARMIGNAC PORTFOLIO Sécurité 199 CARMIGNAC PORTFOLIO Investissement Latitude (liquidated on 16/11/20) 211 CARMIGNAC PORTFOLIO Unconstrained Credit 214 CARMIGNAC PORTFOLIO Unconstrained EM Debt (formerly Unconstrained Emerging Markets Debt) 225 CARMIGNAC PORTFOLIO Patrimoine Europe 231 CARMIGNAC PORTFOLIO Flexible Allocation 2024 238 CARMIGNAC PORTFOLIO Long-Short Global Equities 243 CARMIGNAC PORTFOLIO Family Governed 248 CARMIGNAC PORTFOLIO Grandchildren 253 CARMIGNAC PORTFOLIO Alpha Themes (launched on 03/04/20) 259 Notes to the financial statements - Schedule of derivative instruments 266 Page 2 CARMIGNAC PORTFOLIO Table of contents Other notes to the financial statements 306 Unaudited information 327 No subscription may be accepted on the basis of the financial reports. Subscriptions are only valid if made on the basis of the current prospectus, accompanied by the latest annual report and the latest semi-annual report if published after the annual report. Page 3 CARMIGNAC PORTFOLIO Organisation Registered Office: CARMIGNAC PORTFOLIO, 5, Allée Scheffer, L-2520 Luxembourg Board of Directors: Chairman Mr David OLDER (since 20 March 2020) Head of Equities desk of Carmignac Gestion Luxembourg UK Branch Mr.
    [Show full text]
  • Supplementary Information Document FP Carmignac ICVC May 2019
    Supplementary Information Document FP Carmignac ICVC May 2019 Introduction Contents .............................................. 3 Guide to this document YOUR INVESTMENT About FP Carmignac ICVC (“the Company”) .. 3 ............................ 3 This document is designed to be read alongside a Who are the Funds aimed at? What may the Funds invest in? ......................... 3 relevant 2-page Key Investor Information Document INVESTING ....................................................... 3 (“KIID”). Together they summarise information about How do I invest? ................................................ 3 your investment in the funds, and provide answers to What happens if I change my mind? ............... 3 some important questions. How do I sell shares? ........................................ 4 How do you calculate the value of the shares You should read these documents carefully to help you and where can I find out my shares’ value? ... 4 What limits apply to investment in the Fund? 4 understand what you are buying, and keep them safe Accumulation and Distribution Dates ............. 5 for future reference. CHARGES AND EXPENSES ............................ 6 What are the charges involved in investing? . 6 Please note that we will not accept your investment What expenses do the Funds have? ............... 6 instructions unless you have confirmed that you have How will charges and expenses affect my read the appropriate KIID. investment? ........................................................ 7 Does a dilution adjustment apply?
    [Show full text]
  • Foreign Collective Investment Schemes Authorised by FINMA for Offering in Switzerland
    Foreign collective investment schemes authorised by FINMA for offering in Switzerland (Foreign collective investment schemes approved for offering in Switzerland are not subject to the supervision of the Swiss Financial Market Supervisory Authority, but to the supervision exercised by the competent authority in their home country. Applicable home country provisions with regard to supervision and organisation as well as investment policy of the collective investment scheme are in general equivalent to those applicable in Switzerland, but they may differ in detail.) Foreign open-ended collective investment schemes (Art. 119 para. 1 CISA) Name of individual fund or sub-fund Name of the umbrella FINMA-ID Country Representatives UCITS (eurocompatible) and Swiss securities funds equivalents NON-UCITS, traditional investments NON-UCITS for alternative investments 3V Invest Swiss Small & Mid Cap F00138735 Luxemburg LLB Swiss Investment AG X AAM European Equities F01064038 Frankreich ACOLIN Fund Services AG X Abaris Biotechnology Opportunities F01319404 Luxemburg 1741 Fund Solutions AG X Abaris Defensive Equity F01218127 Luxemburg 1741 Fund Solutions AG X Abaris Emerging Markets Equity F01074496 Luxemburg 1741 Fund Solutions AG X Abaris Technology Opportunities F01194969 Luxemburg 1741 Fund Solutions AG X ACATIS AI BUZZ US Equities F01207177 Deutschland 1741 Fund Solutions AG X ACATIS AI Global Equities F01182153 Deutschland 1741 Fund Solutions AG X ACATIS AKTIEN GLOBAL FONDS F00144570 Deutschland 1741 Fund Solutions AG X Acatis Asia Pacific Plus Fonds F01074730 Deutschland 1741 Fund Solutions AG X ACATIS Datini Valueflex Fonds F01201524 Deutschland 1741 Fund Solutions AG X ACATIS Fair Value Aktien Global F00142393 Liechtenstein 1741 Fund Solutions AG X ACATIS GANÉ VALUE EVENT FONDS F00177295 Deutschland 1741 Fund Solutions AG X ACATIS Global Value Total Return F01170185 Deutschland 1741 Fund Solutions AG X 05.10.2021 / 03:30 1/595 Foreign collective investment schemes authorised by FINMA for offering in Switzerland Foreign open-ended collective investment schemes (Art.
    [Show full text]
  • Important: If You Are in Any Doubt About the Contents of This Prospectus You Should Consult Your Own Financial Adviser
    IMPORTANT: IF YOU ARE IN ANY DOUBT ABOUT THE CONTENTS OF THIS PROSPECTUS YOU SHOULD CONSULT YOUR OWN FINANCIAL ADVISER. PROSPECTUS OF FP CARMIGNAC ICVC (an umbrella type investment company with variable capital incorporated with limited liability in England and Wales under registered number IC005726 and authorised on 4th April 2019 This document constitutes the Prospectus for FP Carmignac ICVC and is issued pursuant to and has been prepared in accordance with the Financial Conduct Authority's Collective Investment Schemes Sourcebook, as amended from time to time and is valid as at 15 May 2019. Copies of this Prospectus have been lodged with the Financial Conduct Authority and the Depositary. WORK\33942509\v.2 i 40485.73 Classification: Confidential Contents 1 DEFINITIONS ......................................................................................................... 10 2 SUMMARY ............................................................................................................. 14 3 CONSTITUTIONAL AND GENERAL .................................................................... 15 4 INSPECTION AND COPIES OF DOCUMENTS .................................................... 15 5 CONFLICTS OF INTEREST .................................................................................. 16 6 MANAGEMENT AND ADMINISTRATION ............................................................ 16 7 DEPOSITARY ........................................................................................................ 18 8 HEDGING AGENT ................................................................................................
    [Show full text]
  • Carmignac Gestion SA
    Review of the Markets in Financial Instruments Directive Questionnaire on MiFID/MiFIR 2 by Markus Ferber MEP The questionnaire takes as its starting point the Commission's proposals for MiFID/MiFIR 2 of 20 October 2011 (COM(2011)0652 and COM(2011)0656). All interested stakeholders are invited to complete the questionnaire. You are invited to answer the following questions and to provide any detailed comments on specific Articles in the table below. Responses which are not provided in this format may not be reviewed. Respondents to this questionnaire should be aware that responses may be published. Please send your answers to [email protected] by 13 January 2012. Response to question 15 from : CARMIGNAC GESTION SA, société de gestion de portefeuille (agreement GP 92-08 du 13/03/1997) 24 place Vendôme – 75001 PARIS Contact : Pascale GUILLIER, general secretary, +33 (0)1 42 86 31 10 About Carmignac Gestion Founded in 1989 by Edouard Carmignac, Carmignac Gestion is one of the leading independent asset management companies in Europe today. Its share capital is entirely held by its management team and staff. In this way, the company’s long-term viability is ensured by a stable shareholding structure, reflecting its spirit of independence. This fundamental value is of upmost importance to the company as it ensures the freedom required for successful and renown portfolio management. With close to 50 billion EUR in assets, Carmignac Gestion has developed a comprehensive range of 18 funds across all asset classes - equities, bonds and multi-strategy, as well as mandate offering. Our funds are actively marketed in 11 European countries: France, Luxembourg, Switzerland, Belgium, Italy, Germany, Spain, Austria, The Netherlands, Sweden and United Kingdom.
    [Show full text]
  • First Two Settlements on Tax Fraud in France
    PARIS WCC and TAX practices FIRST TWO SETTLEMENTS ON TAX FRAUD IN FRANCE Initially reserved to corruption and money laundering matters, out-of-court settlements in tax fraud cases were introduced by Key issues law n° 2018-898 of 23 October 2018 which aimed at fighting • First settlements on tax fraud with the payment of significant tax fraud (the "Law on Tax Fraud"). Two settlements taking public interest fines (i.e. EUR the form of a convention judiciaire d'intérêt public ("CJIP"), the 30 million and 500 million) French equivalent to the Deferred Prosecution Agreement • These public interest fines were ("DPA") have since then been approved by French Courts. added to the tax reassessment and penalties Carmignac Gestion agreed to pay a EUR 30 million public • Payment of the additional taxes and penalties to the French tax interest fine on 28 June 2019 on top of the EUR 21 million in authorities refrained them from additional taxes already paid to the French tax authorities in asking for damages in the the context of the settlement of the tax aspects. Within less context of the CJIP than three months later, two entities of the Google group • The Carmignac CJIP is silent on cooperation, self-reporting (Google France SARL and Google Ireland Ltd) agreed to pay and other pre-conditions set by an aggregated EUR 500 million public interest fine on 12 the recent Guidelines on CJIP September 2019. Before this settlement, Google France published by enforcement authorities (See our Client SARL had already agreed to pay to the French tax authorities Briefing "First guidelines on an amount of EUR 465 million in additional taxes, relating CJIP").
    [Show full text]
  • Rewarding Excellence in Business 12 20
    01 cover - senf:Layout 1 10/12/12 09:33 Page 1 rewarding excellence in business 12 20 IN ASSOCIATION WITH Project2:Layout 1 10/12/12 16:17 Page 1 03 Editorial - jssgmnf:Layout 1 10/12/12 09:36 Page 3 FUNDS EUROPE AWARDS 2012 A night of thought leadership rewarding excellence in business Snow, an unwelcome attendee at our last event, failed to show this year and the eighth industry awards hosted by Funds Europe took place without logistical snags. We received a record amount of entries. It seems the number of entry forms only grows as each year the business environment gets tougher. Entrants demonstrated that despite the continued hard times faced by the funds industry, they can 12 produce business excellence whatever the weather. 20 Funds Europe hosted 150 people at the Tower of London and there were a total of 18 awards, plus one Special Award. The latter went to Mark Tennant of JP Morgan. Attendees of Fund Forum International will have seen Mark interviewing various industry luminaries, though his influence and engagement go beyond that conference. Mark’s thought- leadership role in the asset management industry is recognised by his peers in their awarding him with this honour. Coincidentally, this year we also gave our first award for industry Thought Leadership. It went to SAM, an innovative asset manager and pioneer in creating sustainable indices. Unfortunately, a key winner – Edouard Carmignac, the founder and chief investment officer of Carmignac Gestion who won Personality of theYear – could not make it, though he sent a video acceptance speech.
    [Show full text]
  • Monthly Factsheet
    Carmignac Portfolio Grande Europe A EUR Ydis Luxembourg SICAV sub-fund M. Denham Lower risk Higher risk FACT SHEET Recommended minimum investment years Potentially lower Potentially higher 08/2021 horizon: 5 return return 1 2 3 4 5 6* 7 Investment Universe and Objective Equity fund focused on stock-picking across European markets. The PROFILE investment process is based on fundamental bottom-up analysis. Stock •Fund Inception Date: 30/06/1999 •Legal Form: SICAV selection focuses on identifying and valuing the stocks of the companies •Fund Manager: Mark Denham since •SICAV Name: Carmignac Portfolio with the best long-term growth prospects, as demonstrated by their high, 01/11/2016 •Fiscal Year End: 31/12 (1) sustainable profitability, ideally combined with internal or external •Fund AUM: 748M€ / 883M$ •Subscription/Redemption: Daily reinvestment. Investments are then made in the names with the best •Share class AUM: 7.4M€ •Order Placement Cut-Off Time: Before asymmetric risk/return profiles. The fund aims to outperform its reference •Domicile: Luxembourg 18:00 (CET/CEST) indicator over 5 years and to generate capital growth. •Reference Indicator: Stoxx 600 •SFDR Fund Classification: Article 8 (Reinvested Net Dividends) •Morningstar Category™: Europe Large- Fund Management analysis can be found on P.4 •Base Currency: EUR Cap Growth Equity •NAV: 225.78€ •Dividend Policy: Distribution Equity Investment Rate: 95.82% Equity Exposure: 98.83% •Fund Type: UCITS 08/2021 Asset Allocation Sector Breakdown 08/21 07/21 12/20 Health Care 25.63% Equities
    [Show full text]
  • FP Carmignac ICVC December 2020
    Supplementary Information Document FP Carmignac ICVC December 2020 Introduction Contents YOUR INVESTMENT Guide to this document .............................................. 3 About FP Carmignac ICVC (“the Company”) .. 3 This document is designed to be read alongside a Who are the Funds aimed at? ............................ 3 What may the Funds invest in? ......................... 3 relevant 2-page Key Investor Information Document INVESTING ....................................................... 3 (“KIID”). Together they summarise information about How do I invest? ................................................ 3 your investment in the funds, and provide answers to What happens if I change my mind? ............... 4 How do I sell shares? ........................................ 4 some important questions. How do you calculate the value of the shares You should read these documents carefully to help you and where can I find out my shares’ value? ... 4 What limits apply to investment in the Fund? 4 understand what you are buying, and keep them safe Accumulation and Distribution Dates ............. 5 for future reference. CHARGES AND EXPENSES ............................ 6 What are the charges involved in investing? . 6 Please note that we will not accept your investment What expenses do the Funds have? ............... 7 instructions unless you have confirmed that you have How will charges and expenses affect my read the appropriate KIID. investment? ........................................................ 7 Does a dilution adjustment
    [Show full text]
  • Carmignac Investissement
    CARMIGNAC INVESTISSEMENT French UCITS Under European Directive 2009/65/EC PROSPECTUS 14 June 2021 2015 CARMIGNAC INVESTISSEMENT I. GENERAL CHARACTERISTICS 1. Structure of the UCITS French Mutual Fund (FCP) 2. Name CARMIGNAC INVESTISSEMENT 3. Legal form and Member State in which the UCITS was established French mutual fund (Fonds Commun de Placement – FCP) established in France, governed by European Directive 2009/65/EC 4. Creation date and intended lifetime The fund was approved by the Autorité des marchés financiers on 11 January 1989. It was launched on 26 January 1989 for a period of 99 years (ninety-nine years). 5. Fund overview UNIT ISIN ALLOCATION OF BASE TARGET INVESTORS MINIMUM MINIMUM CATEGORIES DISTRIBUTABLE CURRENC INITIAL SUBSEQUENT INCOME Y SUBSCRIPTION* SUBSCRIPTION* A EUR Acc FR001014898 Accumulation EURO All investors None None 1 A EUR Y dis FR001126918 Distribution EURO All investors None None 2 E EUR Acc FR001031266 Accumulation EURO All investors None None 0 A CHF Acc Hdg FR001126919 Accumulation CHF All investors CHF 50,000,000 None 0 (hedged) Hedged units are hedged against currency risk. * The minimum initial subscription amount does not apply to entities belonging to the Carmignac group or to funds that it manages. 6. Address at which the latest annual and semi-annual reports can be obtained The latest annual reports and the composition of the assets will be sent to unitholders within eight business days upon written request to: CARMIGNAC GESTION, 24, place Vendôme, 75001 PARIS Contact: Communications department Tel: +33 (0)1 42 86 53 35 - Fax: +33 (0)1 42 86 52 10 This information, the prospectus and KIID (Key Investor Information Document) are available at www.carmignac.com The AMF website (www.amf-France.org) contains additional information on the list of regulatory documents and all the provisions relating to investor protection.
    [Show full text]