Equity strategies

Carmignac Portfolio Human Xperience

SICAVThematicESG 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
Asset Allocation
Equities93 %
Other7 %
Data as of:  28 Jun 2024.
Risk Indicator
6/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 20.3 %
0.0 %
0.0 %
0.0 %
+ 18.5 %
From 14/04/2023
To 18/07/2024
Calendar Year Performance 2023
-
-
-
-
-
-
-
-
-
+ 10.6 %
Net Asset Value
120.27 £
Asset Under Management
£
Market
Thematic Fund
SFDR - Fund Classification

Article

9
Data as of:  18 Jul 2024.
​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.

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:  28 Jun 2024.
Fund management team
[Management Team] [Author] Ejikeme Obe

Obe Ejikeme

Fund Manager, Analyst

Market environment

  • US growth continued its soft landing. European data revealed sluggish growth.
  • Central banks around the world took different paths with the ECB, Swiss National Bank and Bank of Canada cutting interest rates, but the Bank of England and Federal Reserve holding tight.
  • Political news was a source of volatility, in Europe where early elections were called in France, and in a few emerging countries such as India, Mexico and South Africa.
  • US stock markets set new records, once again supported by technology companies - especially semiconductor manufacturers. However, European markets were down.

Performance commentary

  • Our Fund’s performance over June was positive in both absolute and relative terms.
  • Our stock picking in the technology and healthcare sectors along with our underweighting of financials, industrials, energy, materials and utilities, were the main catalysts for our outperformance.
  • However, our overweighting of consumer stocks undermined our performance in June.
  • Nvidia, TSMC, Samsung and Novo Nordisk were the month’s top contributors.
  • L’Oreal, VIPshop and Estee Lauder were among the heaviest drags on overall performance.

Outlook strategy

  • We made very few changes to our portfolio in June. We strengthened positions in Adobe and Cisco, reduced exposure to Danaher and Estee Lauder, and took profits on Nvidia.
  • Although market sentiment remained positive during the month, we are still being cautious with the portfolio’s positioning and continuing to focus on less cyclical quality stocks.

Performance Overview

Data as of:  18 Jul 2024.
​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 19/07/2024

Carmignac Portfolio Human Xperience Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  28 Jun 2024.
North America60.8 %
Europe24.1 %
Asia12.3 %
Asia-Pacific2.7 %
Total % Equities100.0 %
North America60.8 %
usUSA
60.8 %

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:  28 Jun 2024.
Equity Investment Weight93.0 %
Net Equity Exposure93.0 %
Number of Equity Issuers38
Active Share79.0 %

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
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.

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