OVHaiLLM/Flipper huggingface dataset:
-20
06/20	09/20	12/20	03/21	05/21
Equity Exposure	Equity Investment Rate	Equity Exposure: -20 to 50%
Top 10 Net Exposure - Long	Top 10 Net Exposure - Short

Translation (ENFR, 2021-05-31):
-20
06/20	09/20	12/20	03/21	05/21
Taux d'exposition	Taux d'investissement Actions	Taux d'exposition : -20 à 50%
Principales expositions nettes - long	Principales expositions nettes - short
##### Carmignac Portfolio Long-Short European Equities F EUR Acc 43.69%
Reference Indicator (1)
16.53%
100
80
11/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21

Translation (ENFR, 2021-05-31):
##### Carmignac Portfolio Long-Short European Equities F EUR Acc 43.69%
Indicateur de référence (1)
16.53%
100
80
11/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21
#### Carmignac Portfolio Patrimoine Europe A EUR Acc
120	
27.37%
Reference Indicator (1)
12.1%
100
80
12/17
08/18
08/19
08/20
08/21
08/22
(1) Reference Indicator: 40% STOXX Europe 600 (Reinvested Net Dividends) + 40% ICE BofA All Maturity All Euro Government (Coupons reinvested) + 20% ESTER capitalized. Quarterly Rebalanced. Until 31/12/2021, the reference indicator was 50% STOXX Europe 600, 50% BofA Merrill Lynch All Maturity All Euro Government Index. The performances are presented using the chaining method. Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor).
Statistics (%)	
VaR	
Monthly Gross Performance Contribution	
CURRENCY DERIVATIVES

Translation (ENFR, 2022-08-31):
#### Carmignac Portfolio Patrimoine Europe A EUR Acc
120	
27.37%
Indicateur de référence (1)
12.1%
100
80
12/17
08/18
08/19
08/20
08/21
08/22
(1) Indicateur de référence : 40% STOXX Europe 600 (Dividendes nets réinvestis) + 40% ICE BofA All Maturity All Euro Government (Coupons réinvestis) + 20% ESTER capitalisé. Rebalancé trimestriellement. Jusqu’au 31/12/2021, l'indicateur de référence était composé à 50% de l’indice STOXX Europe 600 et à 50% de l'indice BofA Merrill Lynch All Maturity All Euro Government. Les performances sont présentées selon la méthode du chaînage. Les performances passées ne préjugent pas des performances futures. Elles sont nettes de frais (hors éventuels frais d’entrée appliqués par le distributeur).
Statistiques (%)	
VaR	
Contribution de la performance brute mensuelle	
DÉRIVÉS DEVISES
# KEY FIGURES
Equity Investment Rate	41.4%
Net Equity Exposure	30.4%
Modified Duration	0.8
Yield to Maturity	5.5%
Average Rating	A-
Average Coupon	2.9%
Number of Bond Issuers	116
Number of Bonds	213
Number of Equity Stocks	54
Active Share	91.5%
175
150
125
100
75
50
12/13 01/14
01/15
01/16
01/17
01/18
01/19
01/20
01/21
01/22
23.1%
01/23

Translation (ENFR, 2023-01-31):
# CHIFFRES CLÉS
Taux d'investissement actions	41.4% Taux d'exposition nette actions	30.4% Sensibilité taux		0.8
Yield to Maturity	5.5%
Notation moyenne	A-
Coupon moyen	2.9%
Nombre d'émetteurs obligations	116
Nombre d'obligations	213
Nombre d'actions	54
Active Share	91.5%
175
150
125
100
75
50
12/13 01/14
01/15
01/16
01/17
01/18
01/19
01/20
01/21
01/22
75.8%
23.1%
01/23
# Performance commentary
The Fund saw relatively weak performance in May, lagging its reference indicator across most sectors with the exception of Industrials, the largest allocation as of the end of the month. This is due to an adverse environment for the strategy, based on long-term attractive trends, with strong fundamentals. Nevertheless, the Fund’s performance year to date is significantly positive as we have still seen good company results mainly in sectors such as Industrials and Consumers. Ashtead, LVMH, Compass, Epiroc, Kingspan, Assa Abloy, L’Oreal, IMCD, and Burberry are all names in these sectors and feature among the top 10 performing stocks for the period. On the other hand, Orsted, Nel, Vestas, and Solaria – our renewable energy names – have been among the weakest YTD following a very good 2020. It is worth noting the progress of Amadeus, one of our “reopening” stocks, following the publication of good Q1 results.

Translation (ENFR, 2021-05-31):
# Commentaire de performance
La performance du Fonds a été relativement faible en mai, sous-performant son indicateur de référence dans tous les secteurs, à l'exception de l'industrie, la principale pondération du fonds à la fin du mois. Ce résultat est dû à un environnement défavorable pour la stratégie, qui repose sur des perspectives attrayantes à long terme, avec des fondamentaux solides. Néanmoins, la performance du fonds depuis le début de l'année est nettement positive, car nous avons enregistré de bons résultats au niveau des sociétés, principalement dans des secteurs tels que l'industrie et les biens de consommation. Ashtead, LVMH, Compass, Epiroc, Kingspan, Assa Abloy, L'Oreal, IMCD et Burberry figurent parmi ces secteurs et se retrouvent parmi les 10 valeurs les plus performantes de la période. En revanche, Orsted, Nel, Vestas et Solaria - nos valeurs liées aux énergies renouvelables - ont été parmi les plus malmenées depuis le début de l'année après une très bonne année 2020. A noter le parcours de l'action Amadeus en mai - un de nos titres de réouverture - qui a publié de bons résultats au premier trimestre.
##### Carmignac Portfolio Grande Europe
F EUR Acc 98.87%
Reference Indicator (1)
69.23%
125
100
75
50
11/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21

Translation (ENFR, 2021-05-31):
##### Carmignac Portfolio Grande Europe
F EUR Acc 98.87%
Indicateur de référence (1)
69.23%
125
100
75
50
11/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21
# Performance commentary
The Fund was down in May, trailing its reference indicator over the period. Our equity allocation, especially in Asia, weighed on performance. Our Chinese positions were particularly hit by these unconducive conditions for growth companies (Zhifei, JOYY and Miniso). On the other hand, our cyclical stocks helped performance, such as our Mexican banks Banorte, our Korean and Indian carmakers Hyundai and Maruti Suzuki, as well as our exposure to Russia (via Russian futures indices). In the credit portfolio, investments in external and local debt performed well. The Fund drew strength from its convictions in South America (Colombia), Eastern Europe (Romania, Ukraine) and Asia (China, Indonesia), but conversely, our exposure to Chilean local debt weighed on performance. Lastly, in the currency component, our exposure to the currencies of commodity producing countries contributed positively to performance, especially the Brazilian real.

Translation (ENFR, 2021-05-31):
# Commentaire de performance
Le Fonds termine le mois de mai en baisse, sous-performant son indicateur de référence sur la période. La sous performance de notre poche actions a pesé sur la performance, notamment en Asie. Nos positions chinoises ont particulièrement souffert de cet environnement peu propice aux entreprises de croissance (Zhifei, JOYY et Miniso). En revanche, nos valeurs cycliques à l’image de nos banques mexicaine Banorte, nos producteurs automobiles coréen et indien Hyundai et Maruti Suzuki ainsi que notre exposition à la Russie (via les indices sur les futures russes) ont soutenu la performance. Sur la partie taux, les investissements sur le front de la dette externe et locale se sont bien comportés. Le Fonds a ainsi bénéficié de ses convictions en Amérique du sud (Colombie), en Europe de l’Est (Roumanie, Ukraine) et Asie (Chine, Indonésie). A l’inverse, notre exposition à la dette locale chilienne a pesé sur la performance. Enfin, sur la partie devises, notre exposition aux devises des pays producteurs de matières premières a contribué positivement à la performance (notamment le réal brésilien).
## Equity Exposure - 1 Year Period (%AUM) (2)
Asia
Eastern Europe
Latin America
Asia-Pacific
86.76%
Consumer Discretionary Information Technology Communication Services
Financials Healthcare Consumer Staples
Materials Utilities Industrials
28.28%
25.68%
14.85%
11.99%
7.59%
4.02%
3.75%
3.30%
0.54%
50
40
30
20
10

Translation (ENFR, 2021-05-31):
## Evolution Exposition Actions depuis 1 an (% de l'actif) (2)
Asie
Europe de l'est
Amérique latine
Asie Pacifique
86.76%
Consommation Discrétionnaire Technologies de l'Information Services de Communication
Finance Santé
Biens de Consommation de Base
Matériaux Services aux collectivités
Industrie
28.28%
25.68%
14.85%
11.99%
7.59%
4.02%
3.75%
3.30%
0.54%
50
40
30
20
10
| Share Class | Date of 1st NAV | Bloomberg | ISIN | SEDOL | CUSIP | WKN | Ongoing Charge (2) | Performance fee | Maximum Subscription Fee  (3) | Minimum Initial Subscription (4) | Single Year Performance (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.01.21- 31.01.22 | 31.01.20- 29.01.21 | 31.01.19- 31.01.20 | 31.01.18- 31.01.19 | 31.01.17- 31.01.18 |
| A EUR Acc | 14/12/2007 | CARGLBD LX | LU0336083497 | B4593C2 | L1455N161 | A0M9A0 | 1.19% | Yes | 4% | — | 0.80 | 0.50 | 11.05 | -3.92 | 1.25 |
| A EUR Ydis | 19/07/2012 | CARGBDE LX | LU0807690168 | BH899S8 | L15068122 | A1J2RF | 1.2% | Yes | 4% | — | 0.80 | 0.51 | 11.06 | -3.91 | 1.22 |
| A CHF Acc Hdg | 19/07/2012 | CARGBAC LX | LU0807689822 | BH899Q6 | L15068106 | A1J2R8 | 1.2% | Yes | 4% | — | 0.46 | 0.09 | 10.54 | -4.43 | 0.93 |
| A USD Acc Hdg | 19/07/2012 | CARGBAU LX | LU0807690085 | BH899R7 | L15068114 | A1J2R9 | 1.2% | Yes | 4% | — | 1.39 | 1.62 | 13.75 | -1.40 | 2.37 |
| F EUR Acc | 15/11/2013 | CARGBFE LX | LU0992630599 | BGP6T52 | L1455N559 | A1W944 | 0.79% | Yes | 4% | — | 1.20 | 0.85 | 11.45 | -3.65 | 1.31 |

Translation (ENFR, 2022-01-31):
| Parts | Date de la 1ère VL | Code Bloomberg | ISIN | SEDOL | CUSIP | WKN | Frais courants (2) | Commission de surperformance | Frais d'entrée maximum (3) | Minimum de souscription initiale (4) | Performance sur un an (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.01.21- 31.01.22 | 31.01.20- 29.01.21 | 31.01.19- 31.01.20 | 31.01.18- 31.01.19 | 31.01.17- 31.01.18 |
| A EUR Acc | 14/12/2007 | CARGLBD LX | LU0336083497 | B4593C2 | L1455N161 | A0M9A0 | 1.19% | Oui | 4% | — | 0.80 | 0.50 | 11.05 | -3.92 | 1.25 |
| A EUR Ydis | 19/07/2012 | CARGBDE LX | LU0807690168 | BH899S8 | L15068122 | A1J2RF | 1.2% | Oui | 4% | — | 0.80 | 0.51 | 11.06 | -3.91 | 1.22 |
| A CHF Acc Hdg | 19/07/2012 | CARGBAC LX | LU0807689822 | BH899Q6 | L15068106 | A1J2R8 | 1.2% | Oui | 4% | — | 0.46 | 0.09 | 10.54 | -4.43 | 0.93 |
| A USD Acc Hdg | 19/07/2012 | CARGBAU LX | LU0807690085 | BH899R7 | L15068114 | A1J2R9 | 1.2% | Oui | 4% | — | 1.39 | 1.62 | 13.75 | -1.40 | 2.37 |
| F EUR Acc | 15/11/2013 | CARGBFE LX | LU0992630599 | BGP6T52 | L1455N559 | A1W944 | 0.79% | Oui | 4% | — | 1.20 | 0.85 | 11.45 | -3.65 | 1.31 |
| Share Class | Date of 1st NAV | Bloomberg | ISIN | SEDOL | CUSIP | WKN | Fixed Management Fee | Maximum Subscription Fee  (2) | Minimum Initial Subscription (3) | Single Year Performance (%) | Cumulative Performance (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 30.07.20 - 30.07.21 | 30.07.19 - 30.07.20 | 30.07.18 - 30.07.19 | 28.07.17 - 30.07.18 | 29.07.16 - 28.07.17 | 3 Years | 5 Years | 10 Years |
| A EUR Acc | 14/12/2007 | CARCSHP LX | LU0336084032 | B3K7RF5 | L1455N146 | A0M9A2 | 1% | 1% | 1 Unit | 5.44 | 5.57 | 1.71 | -0.58 | 1.69 | 13.15 | 14.47 | 25.22 |
| A EUR Ydis | 15/11/2013 | CARCAEY LX | LU0992631050 | BGP6SP5 | L1455N294 | A1W94Z | 1% | 1% | 1 Unit | 5.44 | 5.56 | 1.70 | -0.56 | 1.82 | 13.13 | 14.62 | — |
| A CHF Acc Hdg | 19/07/2012 | CARCSHA LX | LU0807689665 | BH899W2 | L15064105 | A1J2R1 | 1% | 1% | 1 Unit | 5.11 | 5.10 | 1.22 | -1.07 | 1.21 | 11.75 | 11.97 | — |
| A USD Acc Hdg | 19/07/2012 | CARCSHU LX | LU0807689749 | BH899X3 | L15064113 | A1J2R2 | 1% | 1% | 1 Unit | 6.19 | 7.60 | 4.58 | 1.59 | 3.30 | 19.43 | 25.43 | — |
| F EUR Acc | 15/11/2013 | CARCFEA LX | LU0992631217 | BGP6SQ6 | L1455N310 | A1W940 | 0.55% | 1% | 1 Unit | 5.85 | 5.99 | 2.15 | -0.20 | 2.10 | 14.53 | 16.78 | — |

Translation (ENFR, 2021-07-30):
| Parts | Date de la 1ère VL | Code Bloomberg | ISIN | SEDOL | CUSIP | WKN | Frais de gestion fixe | Frais d'entrée maximum (2) | Minimum de souscription initiale (3) | Performance sur un an (%) | Performances cumulées (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 30.07.20 - 30.07.21 | 30.07.19 - 30.07.20 | 30.07.18 - 30.07.19 | 28.07.17 - 30.07.18 | 29.07.16 - 28.07.17 | 3 ans | 5 ans | 10 ans |
| A EUR Acc | 14/12/2007 | CARCSHP LX | LU0336084032 | B3K7RF5 | L1455N146 | A0M9A2 | 1% | 1% | 1 part | 5.44 | 5.57 | 1.71 | -0.58 | 1.69 | 13.15 | 14.47 | 25.22 |
| A EUR Ydis | 15/11/2013 | CARCAEY LX | LU0992631050 | BGP6SP5 | L1455N294 | A1W94Z | 1% | 1% | 1 part | 5.44 | 5.56 | 1.70 | -0.56 | 1.82 | 13.13 | 14.62 | — |
| A CHF Acc Hdg | 19/07/2012 | CARCSHA LX | LU0807689665 | BH899W2 | L15064105 | A1J2R1 | 1% | 1% | 1 part | 5.11 | 5.10 | 1.22 | -1.07 | 1.21 | 11.75 | 11.97 | — |
| A USD Acc Hdg | 19/07/2012 | CARCSHU LX | LU0807689749 | BH899X3 | L15064113 | A1J2R2 | 1% | 1% | 1 part | 6.19 | 7.60 | 4.58 | 1.59 | 3.30 | 19.43 | 25.43 | — |
| F EUR Acc | 15/11/2013 | CARCFEA LX | LU0992631217 | BGP6SQ6 | L1455N310 | A1W940 | 0.55% | 1% | 1 part | 5.85 | 5.99 | 2.15 | -0.20 | 2.10 | 14.53 | 16.78 | — |
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  | 14.23% |  | EUR CHF | 0.51% | 98.67% |
|  |  |  | 66.74% |  |  |  |
|  |  |  |  | US Dollar | -0.21% |  |
|  |  | 19.03% |  |  |  |  |
|  |  |  |  | GBP | 0.40% |  |
|  |  |  |  | Eastern Europe Middle East and Africa | 0.07% |  |
|  |  |  |  | Others | 0.56% |  |

Translation (ENFR, 2021-07-30):
|  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
|  | 14.23% |  | Euro |  | 98.67% |
|  |  |  |  | Franc suisse | 0.51% |  |
|  |  |  | 66.74% |  |  |  |
|  |  |  |  | Dollar US | -0.21% |  |
|  |  | 19.03% |  | Livre Sterling | 0.40% |  |
|  |  |  |  | Bloc EEMA | 0.07% |  |
|  |  |  |  | Autres | 0.56% |  |
| Company | Weight | ESG Rating |  | Company | Weight | ESG Score |
| --- | --- | --- | --- | --- | --- | --- |
| VAN LANSCHOT KEMPEN NV | 4.30% | AA |  | DERMAPHARM HOLDING SE | 8.50% | BBB |
| LANXESS AG | 3.41% | AA |  | DO & CO AG | 5.95% | CCC |
| PROSIEBENSAT.1 MEDIA | 1.96% | AA |  | TAG IMMOBILIEN AG | 4.76% | A |
| UNITE GROUP PLC/THE | 0.97% | AA |  | UNITED INTERNET | 4.53% | BBB |
| BORUSSIA DORTMUND GMBH & CO | 0.72% | AA |  | BE SEMICONDUCTOR INDUSTRIES | 4.34% | BBB |

Translation (ENFR, 2021-07-30):
| Nom | Pondération | Note ESG |  | Nom | Pondération | Note ESG |
| --- | --- | --- | --- | --- | --- | --- |
| VAN LANSCHOT KEMPEN NV | 4.30% | AA |  | DERMAPHARM HOLDING SE | 8.50% | BBB |
| LANXESS AG | 3.41% | AA |  | DO & CO AG | 5.95% | CCC |
| PROSIEBENSAT.1 MEDIA | 1.96% | AA |  | TAG IMMOBILIEN AG | 4.76% | A |
| UNITE GROUP PLC/THE | 0.97% | AA |  | UNITED INTERNET | 4.53% | BBB |
| BORUSSIA DORTMUND GMBH & CO | 0.72% | AA |  | BE SEMICONDUCTOR INDUSTRIES | 4.34% | BBB |
| Share Class | Date of 1st NAV | Bloomberg | ISIN | SEDOL | CUSIP | WKN | Fixed Management Fee | Maximum Subscription Fee  (2) | Minimum Initial Subscription (3) | Single Year Performance (%) | Cumulative Performance (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.05.20 - 31.05.21 | 31.05.19 - 29.05.20 | 31.05.18 - 31.05.19 | 31.05.17 - 31.05.18 | 31.05.16 - 31.05.17 | 3 Years | 5 Years | 10 Years |
| A EUR Acc | 26/01/1989 | CARINVT FP | FR0010148981 | B06BJR6 | F13871128 | A0DP5W | 1.5% | 4% | 1 Unit | 35.46 | 14.01 | -5.55 | 2.68 | 10.50 | 46.05 | 65.70 | 118.75 |
| A EUR Ydis | 19/06/2012 | CARINDE FP | FR0011269182 | B86RRB0 | F1R51H178 | A1J0KF | 1.5% | 4% | EUR 1000 | 35.44 | 14.06 | -5.57 | 2.69 | 10.49 | 46.06 | 65.72 | — |
| A CHF Acc Hdg | 19/06/2012 | CARINAC FP | FR0011269190 | BJ62CD9 | F1R51H186 | A1J1TG | 1.5% | 4% | CHF 50000000 | 34.97 | 13.46 | -6.01 | 2.14 | 9.76 | 44.11 | 61.57 | — |
| E EUR Acc | 01/07/2006 | CARINVE FP | FR0010312660 | B1G3NH7 | F13871136 | A0QYYN | 2.25% | — | 1 Unit | 34.52 | 13.21 | -6.24 | 1.90 | 9.71 | 42.96 | 59.83 | 103.53 |

Translation (ENFR, 2021-05-31):
| Parts | Date de la 1ère VL | Code Bloomberg | ISIN | SEDOL | CUSIP | WKN | Frais de gestion fixe | Frais d'entrée maximum (2) | Minimum de souscription initiale (3) | Performance sur un an (%) | Performances cumulées (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.05.20 - 31.05.21 | 31.05.19 - 29.05.20 | 31.05.18 - 31.05.19 | 31.05.17 - 31.05.18 | 31.05.16 - 31.05.17 | 3 ans | 5 ans | 10 ans |
| A EUR Acc | 26/01/1989 | CARINVT FP | FR0010148981 | B06BJR6 | F13871128 | A0DP5W | 1.5% | 4% | 1 part | 35.46 | 14.01 | -5.55 | 2.68 | 10.50 | 46.05 | 65.70 | 118.75 |
| A EUR Ydis | 19/06/2012 | CARINDE FP | FR0011269182 | B86RRB0 | F1R51H178 | A1J0KF | 1.5% | 4% | EUR 1000 | 35.44 | 14.06 | -5.57 | 2.69 | 10.49 | 46.06 | 65.72 | — |
| A CHF Acc Hdg | 19/06/2012 | CARINAC FP | FR0011269190 | BJ62CD9 | F1R51H186 | A1J1TG | 1.5% | 4% | CHF 50000000 | 34.97 | 13.46 | -6.01 | 2.14 | 9.76 | 44.11 | 61.57 | — |
| E EUR Acc | 01/07/2006 | CARINVE FP | FR0010312660 | B1G3NH7 | F13871136 | A0QYYN | 2.25% | — | 1 part | 34.52 | 13.21 | -6.24 | 1.90 | 9.71 | 42.96 | 59.83 | 103.53 |
| Company | Weight | ESG Rating |  | Company | Weight | ESG Score |
| --- | --- | --- | --- | --- | --- | --- |
| MICROSOFT CORP | 2.55% | AAA |  | HERMES INTERNATIONAL | 4.34% | BBB |
| PUMA | 1.78% | AAA |  | JD.COM INC | 3.37% | BB |
| INDITEX | 1.57% | AAA |  | FACEBOOK INC | 3.28% | B |
| BURBERRY GROUP | 1.47% | AAA |  | CHONGQING ZHIFEI BIOLOGICA | 2.79% | B |
| ORSTED A/S | 0.88% | AAA |  | WUXI BIOLOGICS CAYMAN INC | 2.60% | A |

Translation (ENFR, 2021-05-31):
| Nom | Pondération | Note ESG |  | Nom | Pondération | Note ESG |
| --- | --- | --- | --- | --- | --- | --- |
| MICROSOFT CORP | 2.55% | AAA |  | HERMES INTERNATIONAL | 4.34% | BBB |
| PUMA | 1.78% | AAA |  | JD.COM INC | 3.37% | BB |
| INDITEX | 1.57% | AAA |  | FACEBOOK INC | 3.28% | B |
| BURBERRY GROUP | 1.47% | AAA |  | CHONGQING ZHIFEI BIOLOGICA | 2.79% | B |
| ORSTED A/S | 0.88% | AAA |  | WUXI BIOLOGICS CAYMAN INC | 2.60% | A |
| Share Class | Date of 1st NAV | Bloomberg | ISIN | SEDOL | CUSIP | WKN | Fixed Management Fee | Maximum Subscription Fee  (2) | Minimum Initial Subscription (3) | Single Year Performance (%) | Cumulative Performance (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.05.20 - 31.05.21 | 31.05.19 - 29.05.20 | 31.05.18 - 31.05.19 | 31.05.17 - 31.05.18 | 31.05.16 - 31.05.17 | 3 Years | 5 Years | 10 Years |
| A EUR Acc | 01/07/1999 | CAREURC LX | LU0099161993 | B03NLZ7 | L1455N104 | A0DKM6 | 1.5% | 4% | 1 Unit | 24.04 | 19.88 | -1.86 | 2.64 | 18.80 | 46.04 | 78.09 | 117.38 |
| A EUR Ydis | 19/07/2012 | CARGEDE LX | LU0807689152 | BH899D3 | L15069120 | A1J2SC | 1.5% | 4% | 1 Unit | 23.37 | 19.41 | -1.85 | 2.64 | 18.90 | 44.69 | 76.58 | — |
| A CHF Acc Hdg | 19/07/2012 | CARGACH LX | LU0807688931 | BH899B1 | L15069104 | A1J2SA | 1.5% | 4% | 1 Unit | 23.56 | 19.38 | -2.24 | 2.18 | 18.46 | 44.31 | 74.67 | — |
| A USD Acc Hdg | 19/07/2012 | CARGEAU LX | LU0807689079 | BH899C2 | L15069112 | A1J2SB | 1.5% | 4% | 1 Unit | 28.91 | 18.80 | 0.77 | 4.18 | 20.33 | 54.47 | 93.65 | — |
| E EUR Acc | 30/04/2007 | CAREURE LX | LU0294249692 | B3XGS12 | L1455N138 | A0QYA1 | 2.25% | — | 1 Unit | 22.89 | 19.08 | -2.60 | 1.95 | 18.36 | 42.63 | 72.11 | 103.48 |
| F EUR Acc | 15/11/2013 | CARGEFE LX | LU0992628858 | BGP6T74 | L15069153 | A1W945 | 0.85% | 4% | 1 Unit | 24.68 | 19.93 | -1.92 | 3.25 | 18.70 | 46.77 | 79.88 | — |

Translation (ENFR, 2021-05-31):
| Parts | Date de la 1ère VL | Code Bloomberg | ISIN | SEDOL | CUSIP | WKN | Frais de gestion fixe | Frais d'entrée maximum (2) | Minimum de souscription initiale (3) | Performance sur un an (%) | Performances cumulées (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29.05.20 - 31.05.21 | 31.05.19 - 29.05.20 | 31.05.18 - 31.05.19 | 31.05.17 - 31.05.18 | 31.05.16 - 31.05.17 | 3 ans | 5 ans | 10 ans |
| A EUR Acc | 01/07/1999 | CAREURC LX | LU0099161993 | B03NLZ7 | L1455N104 | A0DKM6 | 1.5% | 4% | 1 part | 24.04 | 19.88 | -1.86 | 2.64 | 18.80 | 46.04 | 78.09 | 117.38 |
| A EUR Ydis | 19/07/2012 | CARGEDE LX | LU0807689152 | BH899D3 | L15069120 | A1J2SC | 1.5% | 4% | 1 part | 23.37 | 19.41 | -1.85 | 2.64 | 18.90 | 44.69 | 76.58 | — |
| A CHF Acc Hdg | 19/07/2012 | CARGACH LX | LU0807688931 | BH899B1 | L15069104 | A1J2SA | 1.5% | 4% | 1 part | 23.56 | 19.38 | -2.24 | 2.18 | 18.46 | 44.31 | 74.67 | — |
| A USD Acc Hdg | 19/07/2012 | CARGEAU LX | LU0807689079 | BH899C2 | L15069112 | A1J2SB | 1.5% | 4% | 1 part | 28.91 | 18.80 | 0.77 | 4.18 | 20.33 | 54.47 | 93.65 | — |
| E EUR Acc | 30/04/2007 | CAREURE LX | LU0294249692 | B3XGS12 | L1455N138 | A0QYA1 | 2.25% | — | 1 part | 22.89 | 19.08 | -2.60 | 1.95 | 18.36 | 42.63 | 72.11 | 103.48 |
| F EUR Acc | 15/11/2013 | CARGEFE LX | LU0992628858 | BGP6T74 | L15069153 | A1W945 | 0.85% | 4% | 1 part | 24.68 | 19.93 | -1.92 | 3.25 | 18.70 | 46.77 | 79.88 | — |
| Company | Weight | ESG Rating |  | Company | Weight | ESG Score |
| --- | --- | --- | --- | --- | --- | --- |
| SAP SE | 4.40% | AAA |  | COMPASS GROUP PLC | 3.69% | A |
| ASML HOLDINGS | 4.36% | AAA |  | AMADEUS IT HLDG SA | 3.36% | AA |
| NOVO NORDISK AS | 3.31% | AAA |  | ASSA ABLOY | 3.23% | AA |
| L'OREAL SA | 3.24% | AAA |  | ASTRAZENECA PLC | 3.15% | AA |
| PUMA | 3.24% | AAA |  | PUMA | 3.15% | AAA |

Translation (ENFR, 2021-05-31):
| Nom | Pondération | Note ESG |  | Nom | Pondération | Note ESG |
| --- | --- | --- | --- | --- | --- | --- |
| SAP SE | 4.40% | AAA |  | COMPASS GROUP PLC | 3.69% | A |
| ASML HOLDINGS | 4.36% | AAA |  | AMADEUS IT HLDG SA | 3.36% | AA |
| NOVO NORDISK AS | 3.31% | AAA |  | ASSA ABLOY | 3.23% | AA |
| L'OREAL SA | 3.24% | AAA |  | ASTRAZENECA PLC | 3.15% | AA |
| PUMA | 3.24% | AAA |  | PUMA | 3.15% | AAA |
##### Carmignac Portfolio Grande Europe
A USD Acc Hdg 131.6%
Reference Indicator (1)
114.56%
150
125
100
75
50
07/12
05/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21

Translation (ENFR, 2021-05-31):
##### Carmignac Portfolio Grande Europe
A USD Acc Hdg 131.6%
Indicateur de référence (1)
114.56%
150
125
100
75
50
07/12
05/13
05/14
05/15
05/16
05/17
05/18
05/19
05/20
05/21
# Market environment
Markets rose in the period on the back of accommodative central bank policy and fiscal stimulus in developed countries. However, investors are worried about higher inflation, which could lead to more restrictive policies. This trend benefitted the most cyclical sectors, especially banking and energy, whereas technology stocks were down. In terms of regions, European equities continued to outperform their peers in developed and emerging markets alike, as inflation is more contained and vaccinations are being rolled out quickly, boding well for the reopening of the European economy. In credit, although inflation expectations in the United States should continue to rise and drag down nominal rates in their wake, in Europe such inflationary prospects seem more remote and the ECB is not expected to harden its stance in the short term, thus limiting the risk of a rate hike.

Translation (ENFR, 2021-05-31):
# Environnement de marché
Les marchés ont progressé sur la période, toujours soutenu par des Banques centrales accommodantes et des relances fiscales dans les pays développés. Néanmoins, les investisseurs s’inquiètent de la hausse de l’inflation, qui pourrait se traduire par des politiques plus restrictives. Cette dynamique a profité aux secteurs les plus cycliques, en particulier les banques et l’énergie, tandis que les valeurs technologiques ont clôturé en baisse. Au niveau géographique les actions européennes continuent de surperformer leurs homologues développés et émergents, au regard d’une inflation plus contenue et d’une progression rapide de la vaccination, de bon augure pour la réouverture de ces économies. Sur les taux, si les anticipations d’inflation aux Etats-Unis devraient continuer leur progression et entrainer dans leurs sillages les taux nominaux, en Europe, ces perspectives inflationnistes semblent plus lointaines et la BCE ne devrait pas durcir le ton à court terme, limitant ainsi le risque de hausse de taux.