Carmignac Emergents FCP ISIN FR0010149302 Equity management

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Recommended minimum investment horizon : 5 years

At 17/08/2018
Xavier Hovasse
Emerging Equities
David Park
Emerging Equities
  • NAV : 811.33 €
  • D-1 : -0.39 %
  • YTD : -14.62 %
  • 12 Month : -8.41 %

In an environment where the risk/return ratio in emerging markets continues to improve , we retain our focus on countries and companies with solid fundamentals.

2nd Emerging Market Equity Fund - 20 years

€uro Fund Award 2018
Germany
February 2018
All awards

Description

Emerging market equity fund combining a fundamental top-down approach with a disciplined bottom-up analysis in order to identify the best opportunities within its investment universe by seeking companies offering long-term growth potential and attractive cash generation, in underpenetrated sectors and in countries with healthy fundamentals. The Fund aims to outperform its reference indicator over 5 years with lower volatility.

Carmignac Global Strategy July 2018

  • Risky assets rallied
  • Lower oil prices
  • Pressure on core yields
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Exposure data

monthly weekly
July 2018
93.20 %
Investment rate
100.12 %
Exposure rate
0.00
Modified duration
Week from 3 to 10 Aug 2018
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Management Comments

Global

July 2018

The Fund posted a positive performance and beat its reference indicator. Emerging markets experienced mixed fortunes over the period: Latin America rallied strongly on the back of a healthier fiscal situation in Argentina and friendly talks between Mexico and the United States, while China was weakened by the introduction of US customs barriers. In this context, we benefitted from the gains made by our investments in Latin America, in particular in Argentina (MercadoLibre, Grupo Supervielle), Mexico (Grupo Banorte) and Brazil (Transmissora Alianca). Our Taiwanese and South Korean holdings also performed excellently, with Taiwan Semiconductor and Samsung SDI among the biggest contributors to performance. On the other hand, the fall in some of our Chinese stocks (Tencent, Vipshop) and our Indian equity market derivative strategies weighed on performance. We increased our equity exposure, which now stands at a high level.

Weekly

Week from 3 to 10 Aug 2018

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Legal information

The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. 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 KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.

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