Carmignac strengthens the Patrimoine Management team and enhances Senior Management

Guillaume Rigeade and Eliezer Ben Zimra will be responsible for the fixed income element of the Carmignac Patrimoine portfolio, as well as foreign exchange management. They have each managed bond funds for more than 15 years, including more than 10 years as co-managers of flexible funds. Since July 2019, they have co-managed Carmignac Portfolio Flexible Bond. Over three years, it has delivered excess performance of over 13 percentage points versus its benchmark¹. Guillaume and Eliezer are joining the firm’s Strategic Investment Committee.

Jacques Hirsch and Christophe Moulin, global multi-asset investment specialists and members of the Strategic Investment Committee, will join the Carmignac Patrimoine management team to manage the fund’s macro overlay, determine portfolio construction and implement risk management. This includes evaluation of market timing, setting the derivatives and market risk hedging strategies, and identifying and implementing exposure to top-down global equity themes. This set-up will enable the asset class specialists to focus on bottom-up security selection, combined with top-down analysis managed by Jacques and Christophe.

Jacques has been co-manager of the Carmignac Portfolio Patrimoine Europe fund since July 2023. He joined Carmignac from Ruffer, where he co-managed a flexible multi-asset fund which was top quartile over a one-, three- and five-year period². Christophe has been deputy head of Carmignac’s cross-asset team since September 2022, in charge of macroeconomic evaluation, market positioning assessment and technical market analysis. He joined Carmignac from BNP Paribas AM where he was global head of multi-asset.

Commenting on these appointments, Edouard Carmignac says:

"With the return of the economic cycle, macroeconomics is back at the forefront. We are thus strongly reinforcing the management of Carmignac Patrimoine, formed around three performance drivers. I’m pleased to bring together a range of skills and talents from across our investment team, alongside David Older to manage the strategy.

Guillaume and Eliezer are renowned for the quality of their allocation across the fixed income asset classes on the global markets, while Jacques and Christophe are both extremely experienced in macro analysis implementation and risk assessment. These expert duos share a keen sense of collaboration. I have every confidence that this is the right set of skills to manage our flagship fund in the current environment.”

In parallel, Guillaume Rigeade and Pierre Verlé, Carmignac’s highly successful head of credit since 2013 are taking over the head of fixed income role with a view to developing Carmignac’s flexible philosophy throughout its fixed income product range. Pierre remains co-manager of the firm’s credit strategies, including the top-decile ranked Carmignac Portfolio Credit which has outperformed its benchmark by 26 percentage points over 5 years³.

These appointments follow the promotion of Rose Ouahba to Carmignac’s senior management team as managing director. She will work alongside Edouard Carmignac, Eric Helderlé in Luxembourg, Maxime Carmignac in London and Christophe Peronin in Paris.

In this new role, Rose will be responsible for overseeing the firm’s distribution and marketing efforts, combining client experience and sales to foster client satisfaction and enhance business development. Her deep experience, and the alignment of distribution and marketing under her leadership, will be instrumental in coordinating product development and promotion through Carmignac’s different distribution channels.

On the appointment of Rose Ouahba as managing director, Maxime Carmignac adds:

"Under Rose’s leadership, Carmignac's footprint in the fixed income arena has expanded significantly with several blockbuster strategies emerging in recent years. She has proven to be a true business leader and demonstrated both an entrepreneurial spirit and passion for the company. Her strong vision and client-centric approach mean she is a natural choice to join the senior management team, now working to enhance our distribution and marketing proposition. I look forward to working with her as she brings her unique experience to this new leadership position.”