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Equity strategies

Carmignac Portfolio Climate Transition

Luxembourg SICAV sub-fundThematicESG Thematic Fund Article 8
Share Class

LU0705572823

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
Equities89.8 %
Other10.2 %
Data as of:  29 Nov 2024.
Risk Indicator
5/7
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
- 15.8 %
- 0.9 %
+ 0.5 %
- 10.7 %
+ 3.9 %
From 30/12/2011
To 19/12/2024
Calendar Year Performance 2023
+ 6.4 %
- 16.8 %
+ 20.8 %
+ 4.9 %
- 18.4 %
+ 13.9 %
+ 3.9 %
+ 9.6 %
- 15.7 %
+ 1.1 %
Net Asset Value
84.24 €
Asset Under Management
179 M €
Market
Thematic Fund
SFDR - Fund Classification

Article

8
Data as of:  19 Dec 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

LU0705572823

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:  29 Nov 2024.
Fund management team
[Management Team] [Author] Wiskirski Michel

Michel Wiskirski

Fund Manager

Market environment

  • The month of November was predominantly influenced by the US election results.
  • Donald Trump’s presidential victory sparked expectations that the forthcoming administration’s policies would bolster American exceptionalism in both the economy and markets.
  • Outside the US, the election outcome was approached with caution. Emerging markets lagged behind developed markets, while Chinese and European equities declined due to concerns about potential future trade conflicts and tariffs.
  • Commodity returns were modestly positive, with the Bloomberg Commodity Index showing a gain of 0.4%.
  • A further reduction in Russian gas deliveries to Europe, coupled with the unexpected closure of a major liquid natural gas (LNG) plant in Australia, contributed to a more than 20% increase in gas prices in November.

Performance commentary

  • In November our Fund recorded a positive performance in absolute terms, although it lagged behind its reference indicator.
  • The stocks that contributed negatively to our performance stocks associated with green energy providers, notably LG Chem and BYD being our main detractors.
  • We benefited from our overweight position and rigorous stock selection in the energy sector.
  • Our biggest contribution this month came from the green solution enablers theme. Waste Management was one of the biggest contributors after they announced the completion of the acquisition of Stericycle in the beginning of the month.

Outlook strategy

  • During November, we readjusted the weightings of the renewable energy sub-theme by increasing our holdings in Constellation Energy.
  • 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:  19 Dec 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 21/12/2024

Carmignac Portfolio Climate Transition Portfolio overview

Below is an overview of the composition of the portfolio.

Geographical Breakdown

Data as of:  29 Nov 2024.
North America55.2 %
Asia24.0 %
Europe20.3 %
Latin America0.4 %
Africa0.1 %
Eastern Europe-
Total % Equities100.0 %
North America55.2 %
usUSA
52.0 %
caCanada
3.2 %
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:  29 Nov 2024.
Equity Investment Weight89.8 %
Net Equity Exposure86.5 %
Number of Equity Issuers55
Active Share87.8 %

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
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.