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
+ 7.9 %
- 16.2 %
+ 21.7 %
+ 5.5 %
- 17.7 %
+ 14.8 %
+ 4.5 %
+ 10.4 %
- 15.1 %
+ 1.8 %
Net Asset Value
319.9 €
Asset Under Management
206 M €
Market
Thematic Fund
SFDR - Fund Classification
Article
8
Data as of: 28 Jun 2024.
Data as of: 1 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. 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.
Returns on equities and bonds were decent in May, with investors still optimistic for the economy.
Equity performance improved with the MSCI World up 4.5%. Bonds also did well, up 1.3%.
Oil prices fell in May after peaking in April.
Commodities delivered positive returns with the Bloomberg Commodity index gaining 1.8%.
This can be attributed to ongoing conflict in the Middle East and Ukraine, and stable global demand.
Performance commentary
Our Fund’s performance over May was positive in both absolute and relative terms.
Nextera was the month’s top contributor although its green energy peers had an adverse effect.
Samsung weighed heaviest but LG Chem also proved costly after demand for electric vehicles softened.
We benefitted from our overweighting and careful selection of industrial and utilities stocks.
The month’s top contributor was Nextera, a green energy supplier.
Another good source was Taiwan Semiconductors (TSMC), one of our biggest positions, which is part of the green technology sub-theme. This came amid strong demand for microchips.
Outlook strategy
We made no changes to our portfolio in May:
Our strong conviction about semiconductors remains intact and we think that our diversification through sub-themes will make it easier to navigate the market.
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.
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Market environment