# PROFILE
Domicile: Luxembourg Dividend Policy: Distribution Fund Type: UCITS
Legal Form: SICAV
SICAV Name: Carmignac Portfolio Fiscal Year End: 31/12 Subscription/Redemption: Daily
Order Placement Cut-Off Time: Before 13:30 (CET/CEST)
Fund Inception Date: 20/11/2018 Date of 1st NAV: 20/11/2018 Base Currency: EUR
Fund AUM: 79M€ / 86M$ (1)
Share class AUM: 64M€
12/18 01/19
01/20
01/21
01/22
01/23
NAV: 93.96€
Carmignac Portfolio Flexible Allocation 2024 M EUR Ydis

### CUMULATIVE AND ANNUALIZED PERFORMANCE (as of 31/01/2023 - Net of fees)

## FUND MANAGER(S)
Nicolas Pierre since 20/11/2018
Cumulative Performance (%)
Annualised Performance (%)
|  | Since | 1 | 1 | 3 | Since |  | 3 | Since |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 30/12/2022 | Month | Year | Years | 20/11/2018 |  | Years | 20/11/2018 |
| M EUR Ydis | 2.4 | 2.4 | -10.4 | -6.0 | 3.4 |  | -2.0 | 0.8 |


## PERFORMANCE
| STATISTICS (%) |  |  | VAR |  |  | CONTRIBUTION |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 Year 3 Years |  | Fund VaR | 2.9% |  | Equity Derivatives | -0.2% |
| Fund Volatility | 5.5	8.8 |  |  |  |  | Currency Derivatives | -0.1% |
| Sharpe Ratio | -1.9	-0.2 |  |  |  |  | Mutual Fund | 2.8% |

Calculation : Weekly basis
Total	2.5%
Gross monthly performance
* For the share class Carmignac Portfolio Flexible Allocation 2024 M EUR Ydis. 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
Equity Strategies	7.2%
Carmignac Portfolio Investissement	1.7%

## GEOGRAPHIC BREAKDOWN EQUITY COMPONENT
Europe
54.3%
Carmignac Portfolio Emergents	1.1%
Carmignac Portfolio Climate Transition	1.7%
Carmignac Portfolio Emerging Discovery	1.0%
North America
| Carmignac Portfolio Grandchildren	1.7% | Asia-Pacific | 0.4% |
| --- | --- | --- |
| Diversified Strategies	23.8% | Middle East | 0.2% |
| Carmignac Portfolio Patrimoine | 10.6% | Eastern Europe | 0.1% |
| Carmignac Portfolio Patrimoine Europe | 8.4% | Africa | 0.0% |
| Carmignac Portfolio Emerging Patrimoine | 4.8% |  |  |
| Fixed Income Strategies | 57.7% | BOND COMPONENT |  |
|  |  |  |  |  |  |
| Carmignac Portfolio Sécurité | 6.2% | Europe |  |  | 57.2% |
|  |  |  |  |  |  |
| Carmignac Portfolio Flexible Bond | 10.4% | North America |  | 12.8% |  |

Asia Latin America
| Carmignac Portfolio Global Bond | 15.6% |
| --- | --- |
| Carmignac Portfolio Credit | 18.0% |
| Carmignac Portfolio EM Debt | 7.6% |

Eastern Europe Latin America
11.2%
6.7%
| Africa | 4.3% |
| --- | --- |
|  |  |
| Asia | 3.4% |
| Middle East | 1.8% |
| Supranational | 1.6% |
| Asia-Pacific | 0.9% |

Alternative strategies	10.1%
Carmignac Portfolio Long-Short European Equities	10.1%
Cash, Cash Equivalents and Derivatives Operations	1.1%

## ASSET CLASS EXPOSURE
Bonds
59.9%

## FIXED INCOME BREAKDOWN
Fixed Rate Corporate Bonds
55.8%
Cash, Cash Equivalents & Derivatives
Net Equity Exposure
Fixed Rate Government Bonds
| Inflation-linked Government Bonds | 4.9% |
| --- | --- |
| Floating Rate Government Bonds | 0.8% |
| Supranational Bonds | 0.7% |
| Convertible Corporate Bonds | 0.4% |
| Floating Rate Corporate Bonds | 0.3% |

ABS

## NET CURRENCY EXPOSURE OF THE FUND
EUR CHF
US Dollar
GBP JPY
Latin America AUD and CAD ASIAN BLOC
Eastern Europe Middle East and Africa
Others
70.5%

## SECTOR BREAKDOWN
Information Technology
Healthcare Consumer Discretionary
Financials Industrials Consumer Staples
Materials Communication Services
Utilities Energy Real Estate
3.9%
3.9%
2.8%
1.0%
8.3%
7.2%
11.3%
11.0%
19.1%
16.1%
15.5%

## EQUITY EXPOSURE - 1 YEAR HORIZON (% AUM) (1)
50
40
30
20
10
0
-10

## MODIFIED DURATION - 1 YEAR PERIOD
4
2
0
-2
01/22	05/22	08/22	10/22	01/23
Equity Exposure	Equity Investment Rate
01/22
04/22
07/22
10/22
01/23
(1) Equity Exposure Rate = Equity Investment Rate + Equity Derivatives Exposure.

Translation (ENFR, 2023-01-31):
# PROFIL
Domicile : Luxembourg
Affectation des résultats : Distribution
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 13:30 heures (CET/CEST)
Date de lancement du Fonds : 20/11/2018
Date de la 1ère VL : 20/11/2018
Devise de cotation : EUR
Actifs sous gestion du Fonds : 79M€ / 86M$ (1)
Encours de la part : 64M€
12/18 01/19
01/20
01/21
01/22
01/23
VL : 93.96€
Carmignac Portfolio Flexible Allocation 2024 M EUR Ydis
PERFORMANCES CUMULÉES ET ANNUALISÉES (au 31/01/2023 - Net de frais)
|  |  | Performances cumulées (%) |  |  | Performances annualisées (%) |
| --- | --- | --- | --- | --- | --- |
| Depuis le 30/12/2022 | 1	1	3 Mois	an	ans | Depuis le 20/11/2018 |  | 3	Depuis le ans	20/11/2018 |
| M EUR Ydis | 2.4 | 2.4	-10.4	-6.0 | 3.4 |  | -2.0	0.8 |


## CONTRIBUTION À LA

## GÉRANT(S) DU FONDS
Nicolas Pierre depuis le 20/11/2018
| STATISTIQUES (%) |  |  |  | VAR |  |  | PERFORMANCE |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 an | 3 ans |  | VaR du Fonds | 2.9% |  | Derivés actions | -0.2% |
| Volatilité du fonds | 5.5 | 8.8 |  |  |  |  | Derivés devises | -0.1% |
| Ratio de Sharpe | -1.9 | -0.2 |  |  |  |  | OPCVM | 2.8% |

Calcul : pas hebdomadaire
Total	2.5%
Performances brutes mensuelles
* Pour la part Carmignac Portfolio Flexible Allocation 2024 M EUR Ydis. 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
Stratégies actions	7.2%
Carmignac Portfolio Investissement	1.7%
Carmignac Portfolio Emergents	1.1%
Carmignac Portfolio Climate Transition	1.7%
Carmignac Portfolio Emerging Discovery	1.0%

## RÉPARTITION GÉOGRAPHIQUE
POCHE ACTIONS
Europe Amérique du Nord
| Carmignac Portfolio Grandchildren	1.7% | Asie Pacifique | 0.4% |
| --- | --- | --- |
| Stratégies diversifiées	23.8% | Moyen-Orient | 0.2% |
| Carmignac Portfolio Patrimoine | 10.6% | Europe de l'Est | 0.1% |
| Carmignac Portfolio Patrimoine Europe | 8.4% | Afrique | 0.0% |
| Carmignac Portfolio Emerging Patrimoine | 4.8% |  |  |
| Stratégies obligataires | 57.7% | POCHE TAUX |  |
|  |  |  |  |  |  |
| Carmignac Portfolio Sécurité | 6.2% | Europe |  |  | 57.2% |
|  |  |  |  |  |  |
| Carmignac Portfolio Flexible Bond | 10.4% | Amérique du Nord |  | 12.8% |  |

Asie Amérique Latine
54.3%
| Afrique | 4.3% |
| --- | --- |
|  |  |
| Asie | 3.4% |
| Moyen-Orient | 1.8% |
| Supranational | 1.6% |
| Asie Pacifique | 0.9% |

| Carmignac Portfolio Global Bond | 15.6% |
| --- | --- |
| Carmignac Portfolio Credit | 18.0% |
| Carmignac Portfolio EM Debt | 7.6% |
| Stratégies alternatives | 10.1% |
| Carmignac Portfolio Long-Short European Equities | 10.1% |

Europe de l'Est Amérique Latine
11.2%
6.7%
Liquidités, emplois de trésorerie et opérations sur dérivés	1.1%

## RÉPARTITION PAR CLASSE D'ACTIFS
Obligations Liq. emplois de Tréso. et op. sur dérivés Taux d'exposition nette actions
59.9%

## RÉPARTITION PAR TYPE D'EMPRUNTS
Emprunts privés à taux fixe Emprunts d'Etat à taux fixe
| Emprunts d'Etat à taux indexé inflation | 4.9% |
| --- | --- |
| Emprunts d'Etat à taux variable | 0.8% |
| Emprunts Supranationaux | 0.7% |
| Emprunts privés convertibles | 0.4% |
| Emprunts privés à taux variable | 0.3% |

ABS
55.8%

## EXPOSITION NETTE PAR DEVISE
Euro Franc suisse Dollar US Livre Sterling
Yen Bloc LATAM
Bloc $ (AUD et CAD) Bloc Asie ex Japon
Bloc EEMA
Autres
70.5%

## RÉPARTITION SECTORIELLE
Technologies de l'Information
Santé Consommation Discrétionnaire
Finance Industrie
Biens de Consommation de Base
Matériaux Services de Communication Services aux collectivités
Energie Immobilier
3.9%
3.9%
2.8%
1.0%
8.3%
7.2%
11.3%
11.0%
19.1%
16.1%
15.5%

## EVOLUTION EXPOSITION ACTIONS DEPUIS 1 AN (% DE L'ACTIF) (1)
50
40
30
20
10
0
-10

## EVOLUTION SENSIBILITÉ DEPUIS 1 AN
4
2
0
-2
01/22	05/22	08/22	10/22	01/23
Taux d'exposition	Taux d'investissement actions
01/22
04/22
07/22
10/22
01/23
(1) Taux d’exposition aux actions = taux d’investissement en actions + exposition aux dérivés d’actions.