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Equity strategies

Carmignac Portfolio Human Xperience

Luxembourg SICAV sub-fundThematicESG Thematic Fund Article 9
Share Class

LU2601234839

A thematic Fund focused on customer and employee experience
  • Social thematic Fund : a thematic strategy that focuses both on customer and employee satisfaction.
  • Leveraging the power of social data : quantitative expertise and experience in using ‘alternative’ sources of data.
Key documents
KIID
Asset Allocation
Equities96 %
Other4 %
Data as of:  31 Dec 2024.
Risk Indicator
6/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 31.0 %
0.0 %
0.0 %
0.0 %
+ 17.5 %
From 14/04/2023
To 23/01/2025
Calendar Year Performance 2024
-
-
-
-
-
-
-
-
+ 10.6 %
+ 12.7 %
Net Asset Value
130.96 £
Asset Under Management
127 M €
Market
Thematic Fund
SFDR - Fund Classification

Article

9
Data as of:  23 Jan 2025.
​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. The Sustainable Finance Disclosure Regulation (SFDR) 2019/2088 is a European regulation that requires asset managers to classify their funds as either 'Article 8' funds, which promote environmental and social characteristics, 'Article 9' funds, which make sustainable investments with measurable objectives, or 'Article 6' funds, which do not necessarily have a sustainability objective. For more information please refer to https://eur-lex.europa.eu/eli/reg/2019/2088/oj.
Equity strategiesCarmignac Portfolio Human Xperience
Equity strategiesCarmignac Portfolio Human Xperience
Share Class

LU2601234839

Overview

Characteristics & Risks

Performance

Portfolio

ESG

Documents

Carmignac Portfolio Human Xperience 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 Dec 2024.
Fund management team
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst

Market environment

  • Market momentum waned in December, partly due to the Federal Reserve's decision to cut interest rates by 0.25%, while signaling a slower pace of easing for the upcoming year.

  • This decision tempered investor expectations and led to profit-taking in equities, which also caused the dollar to rise.

  • From a sectoral perspective, the technology sector ended the year higher, buoyed by semiconductors, while more cyclical sectors such as energy and financials experienced sharp declines.

  • European markets ended the year on a positive note, despite a drop in its largest capitalization, Novo Nordisk, which disappointed investors following the announcement of results that fell short of expectations for its new experimental anti-obesity drug.

  • Emerging equity markets exhibited some regional disparities, with a sharp rise in China and declines in Korea and Latin America

Performance commentary

  • Over the month of December, the fund performed well in absolute terms. In relative terms, the fund had a positive return while the benchmark ended the month in negative territory.
  • Our underweight to Industrials and Healthcare have benefitted the fund, despite a few names like Danaher and Roche in the Healthcare sector that were among our largest detractors.
  • We saw the largest contributor of performance in Alphabet over the month, this was simultaneously supported by strong stock selection in the IT space with names like Lenovo, Apple and TSMC among our largest contributors.
  • On a similar note we saw strong performance from Tech related consumer names. Sony and Amazon helped our strong performance over the month of December.

Outlook strategy

  • Over the month of December, we did not initiate new positions or sell out of any existing positions.
  • We slightly reduced our position in Siemens, one of our most cyclical positions as well as took profits in names such as SAP and Apple.
  • We simultaneously added to some of positions in Oracle, Lenovo and Cap Gemini in the Technology sector as well as Home Depot and LVMH in the Consumer space.
  • We remain cautious in positioning our portfolio and continue to focus on quality, less cyclical companies.

Performance Overview

Data as of:  23 Jan 2025.
View Performance in detail
​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.​From 01/01/2013 the equity index reference indicators are calculated net dividends reinvested. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 24/01/2025

Carmignac Portfolio Human Xperience Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  31 Dec 2024.
North America62.3 %
Europe26.3 %
Asia7.9 %
Asia-Pacific3.5 %
Total % Equities100.0 %
North America62.3 %
usUSA
62.3 %
View Portfolio allocation

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 Dec 2024.
Equity Investment Weight96.0 %
Net Equity Exposure98.1 %
Number of Equity Issuers39
Active Share76.8 %

The strategy in a nutshell

Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst
The social theme is one of the most disregarded areas within ESG. Yet we believe that companies providing positive experiences to both their customers and employees are better positioned to achieve superior returns over the long run.
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst
View Fund's characteristics

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All analysis
View characteristics and risks
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.
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.