This video is an extract of the interview first published by Asset TV on October 27th, 2016. The video may not be reproduced, in whole or in part, without prior authorisation from Carmignac. It does not constitute a subscription offer, nor does it constitute investment advice. The information contained in the video may be partial information, and may be modified without prior notice. It was not prepared in accordance with applicable regulatory provisions regarding the independence of financial analysts. Carmignac is not subject to the prohibition of entering into transactions in connection with any relevant instruments that may be mentioned in the video. The video may contain information on certain instruments in which Carmignac may have invested at the date it was first published, and it is does not aim to promote a direct investment in any of the instruments mentioned therein. The portfolios of Carmignac funds may change without previous notice. Past performance is not a reliable indicator of future results. Access to the Fund may be subject to restrictions with regard to certain persons or countries. The Fund is not registered in North America, in South America, in Asia nor is it registered in Japan. The Funds are registered in Singapore as restricted foreign scheme (for professional clients only). The Fund has not been registered under the US Securities Act of 1933. The Fund 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 Fund presents a risk of loss of capital. The risks, fees and on-going charges are described in the KIID (Key Investor Information Document). The Fund's prospectus, KIIDs and annual reports are available at www.carmignac.com, or upon request to the Management Company. The KIID must be made available to the subscriber prior to subscription. For UK : This material 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). The Fund's prospectus, NAV, KIIDs, and annual reports are available in English at the offices of the Facilities Agent at BNP PARIBAS SECURITIES SERVICES, operating through its branch in London: 55Moorgate, London EC2R or at www.carmignac.co.uk.