Equity strategies

Carmignac Portfolio Climate Transition

Luxembourg SICAV sub-fundThematicESG Thematic Fund Article 8
Share Class

LU0992629237

A thematic equity Fund acting for climate change mitigation
  • Investing with a purpose : aiming to generate attractive returns on the long-term while having a positive environmental contribution.
  • Investing efficiently : targeting innovative companies across the whole renewable and green industry value chains.
Key documents
Monthly Factsheet (including ESG data)KID
Asset Allocation
Equities88.3 %
Other11.7 %
Data as of:  30 Aug 2024.
Risk Indicator
5/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
+ 18.1 %
+ 2.4 %
+ 13.2 %
- 9.4 %
+ 2.4 %
From 15/11/2013
To 05/09/2024
Calendar Year Performance 2023
+ 7.8 %
- 15.6 %
+ 22.5 %
+ 6.0 %
- 17.3 %
+ 15.5 %
+ 5.1 %
+ 11.1 %
- 14.5 %
+ 2.5 %
Net Asset Value
118.10 €
Asset Under Management
189 M €
Market
Thematic Fund
SFDR - Fund Classification

Article

8
Data as of:  5 Sep 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. 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 Climate Transition
Equity strategiesCarmignac Portfolio Climate Transition
Share Class

LU0992629237

Overview

Characteristics & Risks

Performance

Portfolio

ESG

Documents

Carmignac Portfolio Climate Transition 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 Jul 2024.
Fund management team
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager

Market environment

  • The month of July was characterized by volatility as markets processed several significant economic and political events.
  • Bond investors were reassured by a lower-than-anticipated US Consumer Price Index (CPI) reading at the beginning of the month indicating that the Federal Reserve (Fed) would likely start reducing interest rates soon.
  • The MSCI World index showed a return of 1.8% for developed equities. However, growth stocks experienced a decline of 1% as investors became doubtful about the potential future returns from investing in AI.
  • Elsewhere, the performance of commodities was negative, with the Bloomberg Commodity Index down 4% during the month.
  • The decline was influenced by oil prices, as market participants assessed the effects of reduced demand from China in comparison to supply concerns stemming from tensions in the Middle East.

Performance commentary

  • Our Fund recorded a negative performance in absolute and relative terms in July.
  • The stocks that contributed negatively to our performance were companies linked to the theme of green technology, with SK Hynix and TSMC being our main detractors.
  • LG Chem also impacted our performance, announcing disappointing second-quarter results that were below expectations.
  • We benefited from our overweight position and rigorous stock selection in the utilities sector. Our biggest contribution this month came from the renewable energy theme.
  • Drax, the UK electricity generator, has significantly boosted our performance with its strong first-half profit report and announcement of a share buyback.

Outlook strategy

  • During the month of July, we readjusted the allocation in the renewable energy sub-theme, reducing the positions in Sunrun and Orsted after their solid performances over the month.
  • Our strong conviction in semiconductors remains intact.
  • We believe that our diversification across our sub-themes will enable us to navigate better in this market environment.

Performance Overview

Data as of:  5 Sep 2024.
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.On 15/05/2020 the reference indicator changed to MSCI AC WORLD NR (USD) index net dividends reinvested. Performances are presented using the chaining method. The Fund’s name was changed from Carmignac Portfolio Green Gold to Carmignac Portfolio Climate Transition.​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 08/09/2024

Carmignac Portfolio Climate Transition Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  30 Aug 2024.
North America44.2 %
Asia29.9 %
Europe23.5 %
Asia-Pacific1.6 %
Latin America0.9 %
Africa0.1 %
Eastern Europe-
Total % Equities100.2 %
North America44.2 %
usUSA
41.7 %
caCanada
2.5 %
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:  30 Aug 2024.
Equity Investment Weight88.3 %
Net Equity Exposure86.3 %
Number of Equity Issuers56
Active Share91.7 %

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] Wiskirski Michel

Michel Wiskirski

Fund Manager
Through Carmignac Portfolio Climate Transition, we are adopting a differentiated approach to climate change that reflects our sustainable philosophy. This position is in line with our first theme of ESG engagement: Climate.
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager
View Fund's characteristics
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.
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.
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.