# PROFILE
SFDR Fund Classification: Article 9
Domicile: France
Dividend Policy: Accumulation
Fund Type: UCITS Legal Form: FCP Fiscal Year End: 31/12
Subscription/Redemption: Daily
150
125
100
75
50
01/13
01/14
01/15
01/16
01/17
01/18
01/19
01/20
01/21
01/22
53.4%
42.4%
01/23
Order Placement Cut-Off Time: Before 18:00 (CET/CEST)
Fund Inception Date: 31/01/1997 Date of 1st NAV: 30/12/2011 Base Currency: EUR
Fund AUM: 879M€ / 954M$ (1)
Share class AUM: 20M€
NAV: 163.76€
Carmignac Emergents E EUR Acc	Reference Indicator
CUMULATIVE AND ANNUALIZED PERFORMANCE (as of 31/01/2023 - Net of fees)
	Cumulative Performance (%)	 Annualised Performance (%) 
|  | Since | 1 | 1 | 3 | 5 | 10 |  | 3 | 5 | 10 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 30/12/2022 | Month | Year | Years | Years | Years |  | Years | Years | Years |
| E EUR Acc | 9.2 | 9.2 | -5.7 | 16.4 | 15.7 | 42.4 |  | 5.2 | 3.0 | 3.6 |
| Reference Indicator | 6.0 | 6.0 | -9.3 | 6.4 | 6.5 | 53.4 |  | 2.1 | 1.3 | 4.4 |
| Category Average | 6.5 | 6.5 | -10.1 | 3.1 | 2.5 | 42.0 |  | 1.0 | 0.5 | 3.6 |
| Ranking (Quartile) | 1 | 1 | 1 | 1 | 1 | 3 |  | 1 | 1 | 3 |

Source: Morningstar for the category average and quartiles.

## PERFORMANCE
Morningstar Category™: Global Emerging Markets Equity
01/2023

## FUND MANAGER(S)
Xavier Hovasse since 25/02/2015 Haiyan Li-Labbé since 01/01/2021

## REFERENCE INDICATOR
MSCI EM (USD) (Reinvested Net Dividends).

## OTHER ESG CHARACTERISTICS
Minimum % Taxonomy Alignment	0%
Minimum % Sustainable Investments	80%
| STATISTICS (%) |  |  | VAR |  |  | CONTRIBUTION |  | Principal Adverse Impact Indicators	Yes |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 Year 3 Years |  | Fund VaR | 16.2% |  | Equity Portfolio | 10.1% |  |
| Fund Volatility | 25.7	21.7 |  | Indicator VaR | 12.6% |  | Equity Derivatives | -0.5% |  |
| Indicator Volatility | 18.6	18.5 |  |  |  |  | Currency Derivatives | 0.1% |  |
| Sharpe Ratio | -0.2	0.3 |  |  |  |  | Total | 9.7% |  |
| Beta | 1.0	1.1 |  |  |  |  | Gross monthly performance |  |  |
| Alpha | -0.1	0.1 |  |  |  |  |  |  |  |
| Calculation : Weekly basis |  |  |  |  |  |  |  |  |

* For the share class Carmignac Emergents E EUR Acc. Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. (1) Exchange Rate EUR/USD as of 31/01/2023.
| ASSET ALLOCATION |  |  | SECTOR BREAKDOWN |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Equities | 97.7% |  | Consumer Discretionary |  |  | 31.3% |
| Developed Countries | 2.0% |  | Information Technology |  | 19.9% |  |

Asia-Pacific	2.0%
Emerging Markets	95.7%
Financials
4.5%
3.6%
3.2%
1.8%
13.2%
| Latin America | 18.2% | Utilities |  |
| --- | --- | --- | --- |
| Asia | 77.2% | Healthcare | 5.5% |
| Eastern Europe | 0.3% | Industrials | 5.2% |

11.7%
Cash, Cash Equivalents and Derivatives Operations	2.3%
Materials
Real Estate
Consumer Staples
Communication Services
Rebased weights

## CAPITALISATION BREAKDOWN
Large (>10000 MEUR)
79.2%

## NET CURRENCY EXPOSURE OF THE FUND
Renminbi (Yuan)
40.6%
Mid (2000 - 10000 MEUR)	Won
Rebased weights
Small (<2000 MEUR)
US Dollar Brazilian Real
New Taiwan Dollar
Chilean Peso
Mexican Peso
Malaysian Ringgit
Yen
Singapore Dollar
Others
Look through currency exposure, based on the home market of the foreign company.

## TOP TEN
Name	Country	Sector	%

## GEOGRAPHIC BREAKDOWN
China
40.3%
|  | Brazil |  |  |  | 13.6% |
| --- | --- | --- | --- | --- | --- |
| ELETROBRAS ON | Brazil | Utilities | 6.1% |  |  |  |  |  |
| ALIBABA GROUP HOLDING | China | Consumer Discretionary | 5.6% | India |  |  | 7.0% |  |
| GRUPO BANORTE | Mexico | Financials | 5.0% | Taiwan |  |  | 6.9% |  |
| ANTA SPORTS PRODUCTS | China | Consumer Discretionary | 4.9% | Mexico |  |  | 5.1% |  |

SAMSUNG ELECTRONICS	South Korea	Information Technology	8.7% TAIWAN SEMICONDUCTOR	Taiwan	Information Technology	6.7%
South Korea
LG CHEM	South Korea	Materials	4.4%
Hong Kong
H.K EXCHANGES AND CLEARING LTD
Hong Kong	Financials	4.1%
Malaysia
JD.COM INC	China	Consumer Discretionary	3.9%
MINISO GROUP	China	Consumer Discretionary	3.9%
Total	53.4%
Rebased weights
Japan Singapur
Other countries

Translation (ENFR, 2023-01-31):
# PROFIL
Classification SFDR : Article 9
Domicile : France
Affectation des résultats : Capitalisation
Type de fonds : UCITS
Forme juridique : FCP
Fin de l’exercice fiscal : 31/12
Souscription/Rachat : Jour ouvrable
150
125
100
75
50
01/13
01/14
01/15
01/16
01/17
01/18
01/19
01/20
01/21
01/22
53.4%
42.4%
01/23
Heure limite de passation d’ordres : avant 18:00 heures (CET/CEST)
Date de lancement du Fonds : 31/01/1997
Date de la 1ère VL : 30/12/2011
Devise de cotation : EUR
Actifs sous gestion du Fonds : 879M€ / 954M$ (1)
Encours de la part : 20M€
VL : 163.76€
Carmignac Emergents E EUR Acc	Indicateur de référence
PERFORMANCES CUMULÉES ET ANNUALISÉES (au 31/01/2023 - Net de frais)
	Performances cumulées (%)	 Performances annualisées (%) 
Catégorie Morningstar™ : Global Emerging Markets Equity
01/2023
|  | Depuis le 30/12/2022 | 1 Mois | 1 an | 3 ans | 5 ans | 10 ans |  | 3 ans | 5 ans | 10 ans | GÉRANT(S) DU FONDS |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| E EUR Acc | 9.2 | 9.2 | -5.7 | 16.4 | 15.7 | 42.4 |  | 5.2 | 3.0 | 3.6 | Xavier Hovasse depuis le 25/02/2015 |
| Indicateur de référence | 6.0 | 6.0 | -9.3 | 6.4 | 6.5 | 53.4 |  | 2.1 | 1.3 | 4.4 | Haiyan Li-Labbé depuis le 01/01/2021 |
| Moyenne de la catégorie | 6.5 | 6.5 | -10.1 | 3.1 | 2.5 | 42.0 |  | 1.0 | 0.5 | 3.6 |  |
| Classement (quartile) | 1 | 1 | 1 | 1 | 1 | 3 |  | 1 | 1 | 3 | INDICATEUR DE RÉFÉRENCE |

Source : Morningstar pour la moyenne de la catégorie et les quartiles.
| STATISTIQUES (%) |  |  |  | VAR |  |  | PERFORMANCE |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 an | 3 ans |  | VaR du Fonds | 16.2% |  | Portefeuille actions | 10.1% |
| Volatilité du fonds | 25.7 | 21.7 |  | VaR de l'indicateur | 12.6% |  | Derivés actions | -0.5% |
| Volatilité du benchmark | 18.6 | 18.5 |  |  |  |  | Derivés devises | 0.1% |
| Ratio de Sharpe | -0.2 | 0.3 |  |  |  |  | Total | 9.7% |
| Bêta | 1.0 | 1.1 |  |  |  |  | Performances brutes mensuelles |  |
| Alpha | -0.1 | 0.1 |  |  |  |  |  |  |
| Calcul : pas hebdomadaire |  |  |  |  |  |  |  |  |


## CONTRIBUTION À LA
MSCI EM (USD) (Dividendes nets réinvestis).

## AUTRES CARACTERISTIQUES ESG
Minimum % d’alignement à la Taxonomie	0%
Minimum % d’investissements durables	80%
Principales Incidences Négatives (PAI)	Oui
* Pour la part Carmignac Emergents E EUR Acc. Echelle de risque du KID (Document d’Informations Clés). Le risque 1 ne signifie pas un investissement sans risque. Cet indicateur pourra évoluer dans le temps. (1) Taux de change EUR/USD au 31/01/2023.
| ALLOCATION D'ACTIFS |  |  | RÉPARTITION SECTORIELLE |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Actions | 97.7% |  | Consommation Discrétionnaire |  |  | 31.3% |
| Pays développés | 2.0% |  | Technologies de l'Information |  | 19.9% |  |

Asie Pacifique	2.0%
Pays émergents	95.7%
Finance
4.5%
3.6%
3.2%
1.8%
13.2%
| Amérique Latine | 18.2% | Services aux collectivités |  |
| --- | --- | --- | --- |
| Asie | 77.2% | Santé | 5.5% |
| Europe de l'Est | 0.3% | Industrie | 5.2% |

11.7%
Liquidités, emplois de trésorerie et opérations sur dérivés	2.3%
Matériaux
Immobilier
Biens de Consommation de Base
Services de Communication
Poids rebasés

## RÉPARTITION PAR CAPITALISATION
Grandes (>10000 MEUR)
79.2%

## EXPOSITION NETTE PAR DEVISE
Yuan Ren-Min-Bi
40.6%
Moyennes (2000 - 10000MEUR)	Won
Poids rebasés
Petites (<2000 MEUR)
Dollar des Etats-Unis
Réal de Brésil
Nouveau dollar de Taïwan
Péso chilien
Péso mexicain
Ringgit de Malaisie
Yen
Dollar de Singapour
Autres
Expositions devises transparisées, basées sur le marché local des sociétés étrangères.

## PRINCIPALES POSITIONS
Nom	Pays	Secteur		% SAMSUNG ELECTRONICS	Corée du Sud Technologies de l'Information 8.7% TAIWAN SEMICONDUCTOR	Taiwan	Technologies de l'Information 6.7% ELETROBRAS ON	Brésil	Services aux collectivités	6.1%

## RÉPARTITION GÉOGRAPHIQUE
Chine Corée du Sud
Brésil
40.3%
ALIBABA GROUP HOLDING	Chine	Consommation
Discrétionnaire
5.6%
Inde
Taiwan
GRUPO BANORTE	Mexique	Finance	5.0%
ANTA SPORTS PRODUCTS	Chine	Consommation
Discrétionnaire
4.9%
Mexique
Hong Kong
LG CHEM	Corée du Sud	Matériaux	4.4%
H.K EXCHANGES AND CLEARING LTD
Hong Kong	Finance	4.1%
Malaisie
Japon
JD.COM INC	Chine	Consommation Discrétionnaire
MINISO GROUP	Chine	Consommation Discrétionnaire
3.9%
3.9%
Singapour Autres pays
Total	53.4%
Poids rebasés