Equity strategies
Carmignac Portfolio Human Xperience
Luxembourg SICAV sub-fundThematicESG Thematic Fund Article 9Share 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
Equities95.4 %
Other4.6 %
Data as of: 30 Sep 2024.
Risk Indicator
6/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 19.2 %
0.0 %
0.0 %
0.0 %
+ 14.2 %
To 02/10/2024
Calendar Year Performance 2014Calendar Year Performance 2015Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023
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+ 10.6 %
Net Asset Value
119.22 £
Asset Under Management
107 M €
Market
Thematic Fund
SFDR - Fund Classification
Article
9
Data as of: 30 Sep 2024.
Data as of: 2 Oct 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: 30 Aug 2024.Fund management team
![[Management Team] [Author] Ejikeme Obe](https://carmignac.imgix.net/uploads/NextImage/0001/18/%5BManagement-Team%5D-Ejikeme-Obe.png?auto=format%2Ccompress&fit=fill&w=3840)
Obe Ejikeme
Fund Manager, Analyst
Performance commentary
- Over the month of August, the fund delivered a negative return in absolute terms and underperformed its benchmark.
- Although our overweight to consumer staples and stock selection in consumer discretionary had a positive effect on our overall performance, our slight overweight to the tech sector hurt us the most.
- In the tech sector Samsung, Lenovo, Microsoft, Intuit and Salesforce were among our portfolios largest detractors.
- We saw a few bright spots in the Healthcare sector with stocks like Novo Nordisk and Roche being among our largest contributors.
Outlook strategy
- Over the month of August, we did not initiate any new positions, but continued building our position in UBS.
- we reduced some of our weights in Sony, Hilton and Marriott and took some profits in Novo Nordisk and Roche.
- We remain cautious in positioning our portfolio and continue to focus on quality, less cyclical companies.
Performance Overview
Data as of: 2 Oct 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 03/10/2024
Carmignac Portfolio Human Xperience Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: 30 Sep 2024.| North America | 58.8 % |
| Europe | 29.3 % |
| Asia | 9.2 % |
| Asia-Pacific | 2.8 % |
| Total % Equities | 100.0 % |
North America58.8 %
 USA | 58.8 % |
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: 30 Sep 2024.Equity Investment Weight95.4 %
Net Equity Exposure95.4 %
Number of Equity Issuers41
Active Share80.6 %
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Manager.Fund Management Team
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.
Obe Ejikeme
Fund Manager, Analyst
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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.
Related articles
Thematic equities • 17 April 2024 • English
Carmignac Portfolio Human Xperience celebrates its three-year anniversary
5 minute(s) read
Market environment
The equity markets experienced a volatile month in August 2024: despite the ferocity and depth of the sell-off in early August, equity markets were quick to recover, with many indices back at their previous highs at the end of the month.
Several forces triggered the sell-off in early August, including weak US macro data which exacerbated expectations for rate cuts, the implosion of the Yen carry trade as well as other technical market factors.
The month was also marked by the earnings season during which elevated market volatility in response to a few Q2 reports were masking the reality of better-than-expected earnings season.
At the end of the month, all eyes were on Nvidia ‘s earnings report which revealed earnings that fell short of expectations, even though revenue more than doubled in the last quarter.
Overall, August saw a "defensive" sector rotation with utilities, staples, healthcare outperforming.