# PROFILE
SFDR Fund Classification: Article 8
Domicile: Luxembourg Dividend Policy: Accumulation Fund Type: UCITS
Legal Form: SICAV
SICAV Name: Carmignac Portfolio Fiscal Year End: 31/12 Subscription/Redemption: Daily
Order Placement Cut-Off Time: Before 15:00 (CET/CEST)
Fund Inception Date: 31/03/2021 Date of 1st NAV: 31/12/2021 Base Currency: USD
Fund AUM: 97M€ / 106M$ (1)
Share class AUM: 19573$
01/22
04/22
07/22
10/22
01/23
NAV: 97.87$
Carmignac Portfolio China New Economy F USD Acc	Reference Indicator
CUMULATIVE AND ANNUALIZED PERFORMANCE (as of 31/01/2023 - Net of fees)
Annualised
	Cumulative Performance (%)		Performance (%)
Morningstar Category™: Greater China Equity

## FUND MANAGER(S)
Haiyan Li-Labbé since 01/01/2020

## REFERENCE INDICATOR
Since 30/12/2022
1
Month
1
Year
Since 31/12/2021
Since 31/12/2021
MSCI China Index (USD, Net dividends reinvested).
| F USD Acc | 12.5 | 12.5 | 15.2 | -2.1 |  | -2.0 |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Reference Indicator | 11.8 | 11.8 | -7.8 | -12.7 | -11.8 | OTHER ESG CHARACTERISTICS |
| Category Average | 10.0 | 10.0 | -15.7 | -20.2 | -18.8 | Minimum % Taxonomy Alignment	0% |
| Ranking (Quartile) | 1 | 1 | 1 | 1 | 1 | Minimum % Sustainable Investments	0% |

Source: Morningstar for the category average and quartiles.
Principal Adverse Impact Indicators	Yes
| STATISTICS (%) |  |  | PERFORMANCE CONTRIBUTION |  |
| --- | --- | --- | --- | --- |
|  | 1 Year |  | Equity Portfolio | 10.9% |
| Fund Volatility | 42.0 |  | Equity Derivatives | 0.3% |
| Indicator Volatility | 35.5 |  | Currency Derivatives | -0.6% |
| Sharpe Ratio | 0.4 |  | Mutual Fund | 0.2% |
| Beta | 1.1 |  | Total | 10.9% |
| Alpha | 0.5 |  | Gross monthly performance |  |
| Calculation : Weekly basis |  |  |  |  |

- Exchange Rate EUR/USD as of 31/01/2023.

| ASSET ALLOCATION BY LISTING PLACE |  |  | SECTOR BREAKDOWN |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Equities | 95.0% |  | Consumer Discretionary |  |  | 52.8% |
| Emerging Markets | 95.0% |  | Industrials |  | 12.8% |  |

Asia	95.0%
ADR (USA)	39.5%
Hong Kong (H-Share)	51.4%
Shanghai & Shenzhen (A-Share)	4.1%
Cash, Cash Equivalents and Derivatives Operations	5.0%
Healthcare Information Technology Communication Services
Real Estate
Financials
Materials
Utilities
Rebased weights

## CAPITALISATION BREAKDOWN
Large (>10000 MEUR)

## NET CURRENCY EXPOSURE OF THE FUND
Renminbi (Yuan)
94.4%
Mid (2000 - 10000 MEUR)
49.4%
US Dollar
Rebased weights
Small (<2000 MEUR)
Euro Hong Kong Dollar
Look through currency exposure, based on the home market of the foreign company.
| TOP TEN |  |
| --- | --- |
| Name | Listing place | Sector | % |
| ALIBABA GROUP HOLDING LTD | Hong Kong (H-Share) | Consumer Discretionary | 7.9% |
| MINISO GROUP | ADR (USA) | Consumer Discretionary | 7.9% |
| CHINDATA GROUP HOLDINGS- ADR | ADR (USA) | Information Technology | 6.8% |
| POP MART INTERNATIONAL GROUP | Hong Kong (H-Share) | Consumer Discretionary | 5.8% |
| CHINA EDUCATION GROUP HOLDIN | Hong Kong (H-Share) | Consumer Discretionary | 5.2% |
| ANTA SPORTS PRODUCTS | Hong Kong (H-Share) | Consumer Discretionary | 5.0% |
| DIDI GLOBAL INC | ADR (USA) | Industrials | 4.9% |
| MEITUAN | Hong Kong (H-Share) | Consumer Discretionary | 4.8% |
| KANZHUN LTD | ADR (USA) | Communication Services | 4.6% |
| FULL TRUCK ALLIANCE -SPN ADR | ADR (USA) | Industrials | 4.3% |
| Total |  |  | 57.3% |


## GEOGRAPHIC BREAKDOWN
Rebased weights
China	100.0%

Translation (ENFR, 2023-01-31):
# PROFIL
Classification SFDR : Article 8
Domicile : Luxembourg
Affectation des résultats : Capitalisation
Type de fonds : UCITS
Forme juridique : SICAV
Nom de la SICAV : Carmignac Portfolio Fin de l’exercice fiscal : 31/12 Souscription/Rachat : Jour ouvrable
Heure limite de passation d’ordres : avant 15:00 heures (CET/CEST)
Date de lancement du Fonds : 31/03/2021
Date de la 1ère VL : 31/12/2021
Devise de cotation : USD
Actifs sous gestion du Fonds : 97M€ / 106M$ (1)
Encours de la part : 19573$
01/22
04/22
07/22
10/22
01/23
VL : 97.87$
Carmignac Portfolio China New Economy F USD Acc	Indicateur de référence
PERFORMANCES CUMULÉES ET ANNUALISÉES (au 31/01/2023 - Net de frais)
Performances
	Performances cumulées (%)		annualisées (%)
Catégorie Morningstar™ : Greater China Equity

## GÉRANT(S) DU FONDS
Haiyan Li-Labbé depuis le 01/01/2020

## INDICATEUR DE RÉFÉRENCE
Depuis le 30/12/2022
1
Mois
1	Depuis le
an	31/12/2021
Depuis le 31/12/2021
MSCI China Index (USD, Net dividends reinvested).
| F USD Acc | 12.5 | 12.5 | 15.2 | -2.1 |  | -2.0 |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Indicateur de référence | 11.8 | 11.8 | -7.8 | -12.7 | -11.8 | AUTRES CARACTERISTIQUES ESG |
| Moyenne de la catégorie | 10.0 | 10.0 | -15.7 | -20.2 | -18.8 | Minimum % d’alignement à la Taxonomie	0% |
| Classement (quartile) | 1 | 1 | 1 | 1 | 1 | Minimum % d’investissements durables	0% |

Source : Morningstar pour la moyenne de la catégorie et les quartiles.
Principales Incidences Négatives (PAI)	Oui
| STATISTIQUES (%) |  |  | CONTRIBUTION À LA PERFORMANCE |  |
| --- | --- | --- | --- | --- |
|  | 1 an |  | Portefeuille actions | 10.9% |
| Volatilité du fonds | 42.0 |  | Derivés actions | 0.3% |
| Volatilité du benchmark | 35.5 |  | Derivés devises | -0.6% |
| Ratio de Sharpe | 0.4 |  | OPCVM | 0.2% |
| Bêta | 1.1 |  | Total | 10.9% |
| Alpha | 0.5 |  | Performances brutes mensuelles |  |
| Calcul : pas hebdomadaire |  |  |  |  |

- Taux de change EUR/USD au 31/01/2023.

| ALLOCATION D'ACTIFS PAR PLACE DE COTATION |  |  | RÉPARTITION SECTORIELLE |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Actions | 95.0% |  | Consommation Discrétionnaire |  |  | 52.8% |
| Pays émergents | 95.0% |  | Industrie |  | 12.8% |  |

Asie	95.0%
ADR (USA)	39.5%
Hong Kong (Actions H)	51.4%
Shanghai & Shenzhen (Actions A)	4.1%
Liquidités, emplois de trésorerie et opérations sur dérivés	5.0%
Santé Technologies de l'Information Services de Communication
Immobilier
Finance
Matériaux
Services aux collectivités
Poids rebasés

## RÉPARTITION PAR CAPITALISATION
Grandes (>10000 MEUR)

## EXPOSITION NETTE PAR DEVISE
Yuan Ren-Min-Bi
94.4%
Moyennes (2000 - 10000MEUR)
49.4%
Dollar des Etats-Unis
Poids rebasés
Petites (<2000 MEUR)
EURO
Dollar de Hong Kong
Expositions devises transparisées, basées sur le marché local des sociétés étrangères.

## PRINCIPALES POSITIONS
Nom	Place de cotation	Secteur	%

## RÉPARTITION GÉOGRAPHIQUE
Chine	100.0%
Poids rebasés
ALIBABA GROUP HOLDING LTD Hong Kong (Actions H) Consommation
Discrétionnaire
MINISO GROUP	ADR (USA)	Consommation Discrétionnaire
7.9%
7.9%
CHINDATA GROUP HOLDINGS- ADR
POP MART INTERNATIONAL GROUP
CHINA EDUCATION GROUP HOLDIN
ADR (USA)	Technologies de l'Information
Hong Kong (Actions H) Consommation
Discrétionnaire
Hong Kong (Actions H) Consommation
Discrétionnaire
6.8%
5.8%
5.2%
ANTA SPORTS PRODUCTS	Hong Kong (Actions H) Consommation
Discrétionnaire
5.0%
DIDI GLOBAL INC	ADR (USA)	Industrie	4.9%
MEITUAN	Hong Kong (Actions H) Consommation Discrétionnaire
KANZHUN LTD	ADR (USA)	Services de Communication
4.8%
4.6%
FULL TRUCK ALLIANCE -SPN ADR ADR (USA)	Industrie	4.3%
Total	57.3%