In Mark Denham’s own words
To celebrate the three-year anniversary since taking over Carmignac Portfolio Grande Europe, we asked Mark Denham a few questions on him and his approach to European equities.
I think European equities offer great returns for somebody who’s prepared to invest on a three to five-year investment horizon or longer
A notable turnaround in just 3 years
Mark has spent the last 16 years refining his investment process, and his results are a testament to his clear thinking and long-term vision for investors. In just three years, with the help of the European Equities team and Carmignac’s sector specialists, Mark has introduced an investment discipline that has enhanced the risk/return profile of the Fund, and gained the interest of investors and the investment community alike.
A top-decile Fund with positive risk-adjusted returns
With a 32.3% cumulated return over three years (9.8% annualised return), Carmignac Portfolio Grande Europe beats 91% of its peers and outperforms its reference indicator. The Fund is also first quartile for its Information ratio, Sharpe ratio and Sortino ratio, and is rated 4 stars by Morningstar over Mark’s tenure 1.
Mark Denham’s Citywire rating upgraded to A
In November 2019, in recognition of his investment process and consistency in meeting the Fund’s investment objective over the three-year period, Mark’s Citywire rating was upgraded from “+” to “A”, placing him in a select group of fund managers who have demonstrated strong risk-adjusted returns 2.
A Fund Manager living up to his social responsibilities
Mark’s long-held commitment to socially responsible investment (SRI) has also been recognised. In January 2019, Carmignac Portfolio Grande Europe obtained the French SRI label 3. The Fund has also been designated as “socially conscious” and “low carbon” by Morningstar.
Main characteristics of the Fund
- Fund Manager: Mark Denham (since 01/11/2016)
- Universe: Invests mainly in large-cap companies of the European Union
- Investment objective: Seeks to outperform its reference indicator 1 over five years and generate capital appreciation
- Focus: Companies with high and sustainable profits that reinvest earnings to boost future growth
- Distinctive features: Quality growth stocks and socially responsible fund
- Portfolio allocation: Suitable for the core portion of an investor’s portfolio
- AUM of the Fund: €395 million (as of 30/11/2019)
Carmignac Portfolio Grande Europe
EQUITY: The Fund may be affected by stock price variations, the scale of which is dependent on external factors, stock trading volumes or market capitalization.
CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments.
DISCRETIONARY MANAGEMENT: Anticipations of financial market changes made by the Management Company have a direct effect on the Fund's performance, which depends on the stocks selected.
The Fund presents a risk of loss of capital.
* Risk Scale from the KIID (Key Investor Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time.