# PROFILE
SFDR Fund Classification: Article 9
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
100
80
01/22
04/22
07/22
10/22
-5.8%
-9.7%
01/23
(CET/CEST)
Fund Inception Date: 15/11/2013 Date of 1st NAV: 31/12/2021 Base Currency: EUR
Fund AUM: 324M€ / 352M$ (1)
Share class AUM: 44M€
Carmignac Portfolio Emergents IW EUR Acc	Reference Indicator
CUMULATIVE AND ANNUALIZED PERFORMANCE (as of 31/01/2023 - Net of fees)
Annualised
	Cumulative Performance (%)		Performance (%)
NAV: 94.16€
Morningstar Category™: Global Emerging Markets Equity

## FUND MANAGER(S)
Xavier Hovasse since 25/02/2015
Since 30/12/2022
1
Month
1
Year
Since 31/12/2021
Since 31/12/2021
Haiyan Li-Labbé since 01/01/2021
IW EUR Acc	9.7	9.7	-3.0	-5.8		-5.4	

## REFERENCE INDICATOR
| Reference Indicator | 6.0 | 6.0 | -9.3 | -9.7 | -9.0 | MSCI EM (USD) (Reinvested Net Dividends). |
| --- | --- | --- | --- | --- | --- | --- |
| Category Average | 6.5 | 6.5 | -10.1 | -11.3 | -10.5 |  |
| Ranking (Quartile) | 1 | 1 | 1 | 1 | 1 | OTHER ESG CHARACTERISTICS |

Source: Morningstar for the category average and quartiles.

## PERFORMANCE
Minimum % Taxonomy Alignment	0%
Minimum % Sustainable Investments	80%
Principal Adverse Impact Indicators	Yes
| STATISTICS (%) |  |  | VAR |  |  | CONTRIBUTION |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 Year |  | Fund VaR | 16.0% |  | Equity Portfolio | 9.5% |
| Fund Volatility | 25.7 |  | Indicator VaR | 12.6% |  | Equity Derivatives | -0.5% |
| Indicator Volatility | 18.6 |  |  |  |  | Currency Derivatives | 0.1% |
| Sharpe Ratio | -0.1 |  |  |  |  | Mutual Fund | 0.7% |
| Beta | 1.0 |  |  |  |  | Total | 9.8% |
| Alpha | -0.1 |  |  |  |  | Gross monthly performance |  |
| Calculation : Weekly basis |  |  |  |  |  |  |  |

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

| ASSET ALLOCATION |  |  | SECTOR BREAKDOWN |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Equities | 97.5% |  | Consumer Discretionary |  |  | 31.3% |
| Developed Countries | 2.0% |  | Information Technology |  | 20.1% |  |

Asia-Pacific	2.0%
Emerging Markets	95.5%
Financials
13.3%
| Latin America | 18.0% | Utilities |  |
| --- | --- | --- | --- |
| Asia | 77.3% | Healthcare | 5.5% |
| Eastern Europe | 0.3% | Industrials | 5.1% |

11.5%
Cash, Cash Equivalents and Derivatives Operations	2.5%
Materials
4.5%
Real Estate 3.6%
Consumer Staples 3.3%
Rebased weights
Communication Services
1.8%

## CAPITALISATION BREAKDOWN
Large (>10000 MEUR)
79.4%

## NET CURRENCY EXPOSURE OF THE FUND
Renminbi (Yuan)
40.7%
Mid (2000 - 10000 MEUR)	US Dollar
Rebased weights
Small (<2000 MEUR)
Won Brazilian Real
New Taiwan Dollar
Chilean Peso
Mexican Peso
Yen
Malaysian Ringgit
Euro
Others
Look through currency exposure, based on the home market of the foreign company.

## TOP TEN
Name	Country	Sector	%

## GEOGRAPHIC BREAKDOWN
China
40.4%
|  | Brazil |  |  |  | 13.3% |
| --- | --- | --- | --- | --- | --- |
| 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	8.8% 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 : 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 : 15/11/2013
Date de la 1ère VL : 31/12/2021
Devise de cotation : EUR
Actifs sous gestion du Fonds : 324M€ /
01/22
04/22
07/22
10/22
01/23
352M$ (1)
Carmignac Portfolio Emergents IW EUR Acc	Indicateur de référence
PERFORMANCES CUMULÉES ET ANNUALISÉES (au 31/01/2023 - Net de frais)
Performances
Encours de la part : 44M€
VL : 94.16€
Catégorie Morningstar™ : Global Emerging Markets Equity

## GÉRANT(S) DU FONDS
	Performances cumulées (%)	
	annualisées (%)	
Xavier Hovasse depuis le 25/02/2015
Depuis le 30/12/2022
1
Mois
1	Depuis le
an	31/12/2021
Depuis le 31/12/2021
Haiyan Li-Labbé depuis le 01/01/2021
Source : Morningstar pour la moyenne de la catégorie et les quartiles.

## CONTRIBUTION À LA
AUTRES CARACTERISTIQUES ESG
| IW EUR Acc	 Indicateur de référence | 9.7	 6.0 | 9.7	 6.0 | -3.0	 -9.3 | -5.8	 -9.7 | 	-5.4	 -9.0 | INDICATEUR DE RÉFÉRENCE |
| --- | --- | --- | --- | --- | --- | --- |
| Moyenne de la catégorie | 6.5 | 6.5 | -10.1 | -11.3 | -10.5 | MSCI EM (USD) (Dividendes nets réinvestis). |
| Classement (quartile) | 1 | 1 | 1 | 1 | 1 |  |

Minimum % d’alignement à la Taxonomie	0%
Minimum % d’investissements durables	80%
Principales Incidences Négatives (PAI)	Oui
| STATISTIQUES (%) |  |  | VAR |  |  | PERFORMANCE |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 an |  | VaR du Fonds | 16.0% |  | Portefeuille actions | 9.5% |
| Volatilité du fonds | 25.7 |  | VaR de l'indicateur | 12.6% |  | Derivés actions | -0.5% |
| Volatilité du benchmark | 18.6 |  |  |  |  | Derivés devises | 0.1% |
| Ratio de Sharpe | -0.1 |  |  |  |  | OPCVM | 0.7% |
| Bêta | 1.0 |  |  |  |  | Total | 9.8% |
| Alpha | -0.1 |  |  |  |  | Performances brutes mensuelles |  |
| Calcul : pas hebdomadaire |  |  |  |  |  |  |  |

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

| ALLOCATION D'ACTIFS |  |  | RÉPARTITION SECTORIELLE |  |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |
| Actions | 97.5% |  | Consommation Discrétionnaire |  |  | 31.3% |
| Pays développés | 2.0% |  | Technologies de l'Information |  | 20.1% |  |

Asie Pacifique	2.0%
Pays émergents	95.5%
Finance
13.3%
| Amérique Latine | 18.0% | Services aux collectivités |  |
| --- | --- | --- | --- |
| Asie | 77.3% | Santé | 5.5% |
| Europe de l'Est | 0.3% | Industrie | 5.1% |

11.5%
Liquidités, emplois de trésorerie et opérations sur dérivés	2.5%
Matériaux
4.5%
Immobilier 3.6%
Biens de Consommation de Base 3.3%
Poids rebasés
Services de Communication
1.8%

## RÉPARTITION PAR CAPITALISATION
Grandes (>10000 MEUR)
79.4%

## EXPOSITION NETTE PAR DEVISE
Yuan Ren-Min-Bi
40.7%
Moyennes (2000 - 10000MEUR)	Dollar des Etats-Unis
Poids rebasés
Petites (<2000 MEUR)
Won Réal de Brésil
Nouveau dollar de Taïwan
Péso chilien
Péso mexicain
Yen
Ringgit de Malaisie
EURO
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 8.8% TAIWAN SEMICONDUCTOR	Taiwan	Technologies de l'Information 6.7% ELETROBRAS ON	Brésil	Services aux collectivités	6.1%

## RÉPARTITION GÉOGRAPHIQUE
Chine Corée du Sud
Brésil
40.4%
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