David Older’s nomination as Head of Equities kick-started the massive improvements in Carmignac’s equity team and processes. Similarly, his nomination at the helm of Carmignac Investissement was the beginning of a new chapter for the strategy.
This is illustrated in the 1-year rolling performance percentile ranking evolution vs its peers2, considerably improving since David Older took over3:
A few key points on this improving performance:
Example of a long-term success story: the ecommerce
Among the 10 best performing stocks since 31/12/2018 (takeover date), we note 3 ecommerce players operating in 3 different regions, illustrating very well the philosophy of the fund: Identifying trends that have universal patterns and can be easily translated across countries and businesses.
Moreover, these named success does not entirely rely on ecommerce. Amazon has the cloud, most of the value of Mercadolibre is in payments and Sea Ltd. maintains his leadership in Southeast Asia's gaming market. As the penetration of ecommerce has seen a huge acceleration, we are now looking for the next big trend: social commerce.
Why chose Carmignac Investissement over another global equity Fund?
Since the beginning of the year, Carmignac Investissement A EUR share class posted +25.1% vs +0.6% for the reference indicator1. It beats 95% of its peers (Global Equity Funds) since the beginning of the year and 90% of them since David Older took over3.
*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.
This document is intended for professional clients. This is an advertising document. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. This document does not constitute a subscription offer, nor does it constitute investment advice. The French investment funds (fonds commun de placement or FCP) are common funds in contractual form (FCP) conforming to the UCITS Directive under French law. 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 reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager. The portfolios of Carmignac funds may change without previous notice. 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 and fees 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. - In Switzerland, the Fund’s respective prospectuses, KIIDs and annual reports are available at www.carmignac.ch, or through our representative in Switzerland, CACEIS (Switzerland)
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