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Carmignac

New names for four of our Fixed Income funds

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On the 10th March 2021, four of our Fixed Income Funds changed their name: the word ‘unconstrained’ has simply been removed.

A key characteristic of all Carmignac Funds is their ‘unconstrained’ philosophy: a truly active and flexible approach providing them the ability to navigate diverse market environments.

As our unconstrained philosophy will continue to apply to our entire Fixed Income range (and management), there is no need to mention it in the individual names of each Fund.

This change has no impact on the Funds’ respective objectives, investment strategy, risk management or fee structure.

In the case of Carmignac Portfolio Flexible Bond (formerly Carmignac Portfolio Unconstrained Euro Fixed Income), we have taken the opportunity for a name adjustment to better reflect its global fixed income strategy – with the currency risk systematically hedged in euro.

Discover the new names of the four Fixed Income Funds concerned by this change:

  • FORMER NAME

    Carmignac Portfolio Unconstrained Global Bond

    Carmignac Portfolio Unconstrained Euro Fixed Income

    Carmignac Portfolio Unconstrained Credit

    Carmignac Portfolio Unconstrained EM Debt

  • NEW NAME

    Carmignac Portfolio Global Bond


    Carmignac Portfolio Flexible Bond


    Carmignac Portfolio Credit

    Carmignac Portfolio EM Debt

Our ‘Unconstrained’ Fixed Income Philosophy

All our Fixed Income Funds share the same philosophy: an active, global and non-benchmarked investment approach relying on greater flexibility in managing exposures.

It is based on three pillars:

  • Carmignac
    A FLEXIBLE ALLOCATION

    Our Fund Managers have a pertinent tool kit at their disposal to optimise the management of exposures, including wide modified duration brackets that can go from negative to positive territory.

  • Carmignac
    A GLOBAL INVESTMENT UNIVERSE

    Our Fund Managers have the ability to invest in a broad and diversified investment universe and various fixed income asset classes, according to their respective Funds’ strategy.

  • Carmignac
    A NON-BENCHMARKED APPROACH

    Portfolio construction is a result of Fund Managers’ views and in-depth market analysis, without bias to any benchmark and without constraints in terms of regions or sectors*.

* Outside limits mentioned in the Funds’ prospectuses.

Our Diversified Fixed Income Range

Our Fixed Income Fund range is composed of complementary Funds, designed to meet different investor profiles according to their risk appetite and investment objectives:

Carmignac

The Fixed Income range matrix is only for illustrative purpose and based on expectations. Each respective Fund position within this matrix is explained by their KIID risk, investment universe & main guidelines. Carmignac Portfolio refers to the sub-funds of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive. Carmignac Securite is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law. The risks, fees and ongoing charges are described in the KIID (Key Investor Information Document). The KIID must be made available to the subscriber prior to subscription. Potential Returns are forecasts.
Performance forecasts are not a reliable indicator of future performance. Risk level based on 52-week volatility average of the Funds since 31/07/17 (launch date of Carmignac Portfolio Unconstrained Credit). For illustrative purpose only, do not take into account investors’ specific individual circumstances and must not be interpreted as investment advice. Source: Carmignac, 10/03/2021. *For the A EUR acc share class. Risk Scale from the KIID (Key Investor Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time.

Looking for flexibility? Discover our Aggregate Funds:

  • Carmignac Sécurité

    [Investment Horizon] 2_EN

    A flexible, low duration solution to challenging European markets



    For whom?
    For investors looking for a solution delivering steady returns with reduced volatility in a financial repressed environment


    Investment universe:
    Euro-denominated sovereign and credit bonds

  • Carmignac P. Flexible Bond

    [Investment Horizon] 3_EN

    A flexible solution aimed at capturing bond opportunities globally while systematically hedging the currency risk

    For whom?
    For investors looking for a core allocation aiming to outperform fixed income markets with volatility in line with bond markets (3-5%).


    Investment universe:
    International bonds – Euro hedged

  • Carmignac P. Global Bond

    [Investment Horizon] 3_EN

    A global solution to access multiple performance drivers within the Fixed Income universe


    For whom?
    For investors with higher volatility tolerance looking for bond performance drivers at a time when yields are extremely low and subject to volatility spikes.

    Investment universe:
    International bonds and currencies

Looking for yields? Discover our Specialised Funds:

  • Carmignac P. Credit

    [Investment Horizon] 3_EN

    A conviction-driven solution to access global credit markets


    For whom?
    For investors looking for versatile solutions to navigate volatile credit markets in this prolonged environment of financial repression

    Investment universe:
    Global Credit Markets

  • Carmignac P. EM Debt

    [Investment Horizon] 3_EN

    A socially responsible investment fund to uncover fixed income opportunities within the emerging universe

    For whom?
    For investors looking for higher yields in the fixed income emerging universe and looking for proper risk management to invest in this asset class

    Investment universe:
    Emerging bonds and currencies

Carmignac Sécurité AW EUR Ydis

ISIN: FR0011269083

Recommended minimum investment horizon

Lower risk Higher risk

Potentially lower return Potentially higher return

1 2 3 4 5 6 7
Main risks of the Fund

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CREDIT: Credit risk is the risk that the issuer may default.

RISK OF CAPITAL LOSS: The portfolio does not guarantee or protect the capital invested. Capital loss occurs when a unit is sold at a lower price than that paid at the time of purchase.

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.

The Fund presents a risk of loss of capital.

Carmignac Portfolio Flexible Bond

ISIN:
Main risks of the Fund

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

CREDIT: Credit risk is the risk that the issuer may default.

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.

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.

The Fund presents a risk of loss of capital.

Carmignac Portfolio Global Bond Income E USD Hdg

ISIN: LU0992630326

Recommended minimum investment horizon

Lower risk Higher risk

Potentially lower return Potentially higher return

1 2 3 4 5 6 7
Main risks of the Fund

CREDIT: Credit risk is the risk that the issuer may default.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

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.

Carmignac Portfolio Credit A USD Acc Hdg

ISIN: LU1623763064

Recommended minimum investment horizon

Lower risk Higher risk

Potentially lower return Potentially higher return

1 2 3 4 5 6 7
Main risks of the Fund

CREDIT: Credit risk is the risk that the issuer may default.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

LIQUIDITY: Temporary market distortions may have an impact on the pricing conditions under which the Fund might be caused to liquidate, initiate or modify its positions

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.

Carmignac Portfolio EM Debt A EUR Acc

ISIN: LU1623763221

Recommended minimum investment horizon

Lower risk Higher risk

Potentially lower return Potentially higher return

1 2 3 4 5 6 7
Main risks of the Fund

EMERGING MARKETS: Operating conditions and supervision in "emerging" markets may deviate from the standards prevailing on the large international exchanges and have an impact on prices of listed instruments in which the Fund may invest.

INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates.

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.

CREDIT: Credit risk is the risk that the issuer may default.

The Fund presents a risk of loss of capital.