# PROFILE
SFDR Fund Classification: Article 9
Domicile: Luxembourg Dividend Policy: Accumulation Fund Type: UCITS
120
100
80
60
40
01/12
12/12
12/13
12/14
12/15
12/16
12/17
12/18
12/19
12/20
12/21
21.5%
-1.7%
12/22
Legal Form: SICAV
SICAV Name: Carmignac Portfolio Fiscal Year End: 31/12 Subscription/Redemption: Daily
Order Placement Cut-Off Time: Before 18:00 (CET/CEST)
Fund Inception Date: 03/03/2003 Date of 1st NAV: 10/03/2003 Base Currency: EUR
Fund AUM: 277M€ / 296M$ (1)
Carmignac Portfolio Climate Transition A EUR Acc	Reference Indicator
CUMULATIVE AND ANNUALIZED PERFORMANCE (as of 30/12/2022 - Net of fees)
Cumulative Performance (%)	Annualised Performance (%)
Share class AUM: 199M€
NAV: 285.65€
Morningstar Category™: Sector Equity Ecology

## FUND MANAGER(S)
1	1	3
5	10
3	5	10
Since
Michel Wiskirski since 20/12/2018
| A EUR Acc |   Month	 -6.5 | Year	 -15.1 | Years	 -2.0 | Years	 -7.5 | Years  -1.7 |  |  Years	 -0.7 | Years	 -1.5 | Years  -0.2 | 14/05/2020  11.0 | REFERENCE INDICATOR(2) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Reference Indicator | -7.3 | -13.0 | -1.4 | 5.9 | 21.5 |  | -0.5 | 1.2 | 2.0 | 11.9 | MSCI ACWI (USD) (Reinvested Net Dividends). |
| Category Average | -6.2 | -17.6 | 20.6 | 39.4 | 138.3 |  | 6.5 | 6.9 | 9.1 | — |  |
| Ranking (Quartile) | 3 | 2 | 4 | 4 | 4 |  | 4 | 4 | 4 | — |  |

Source: Morningstar for the category average and quartiles.
As of the 15/05/2020, the Sub-Fund adopts a socially responsible approach towards the environment and invests thematically in equities of companies that provide products or services that the fund manager believes are addressing climate change mitigation.

## PERFORMANCE
| STATISTICS (%) |  |  |  | VAR |  |  | CONTRIBUTION |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 Year 3 | Years |  | Fund VaR | 11.7% |  | Equity Portfolio | -6.6% |
| Fund Volatility | 18.6 | 26.6 |  | Indicator VaR | 11.4% |  | Equity Derivatives | 0.5% |
| Indicator Volatility | 16.2 | 23.7 |  |  |  |  | Currency Derivatives | -0.3% |
| Sharpe Ratio | -0.8 | -0.0 |  |  |  |  | Total | -6.3% |
| Beta | 1.0 | 1.0 |  |  |  |  | Gross monthly performance |  |
| Alpha | -0.0 | 0.0 |  |  |  |  |  |  |
| Calculation : Weekly basis |  |  |  |  |  |  |  |  |

* For the share class Carmignac Portfolio Climate Transition A 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 30/12/2022. (2) On 15/05/2020 the reference indicator changed to MSCI AC WORLD NR (USD) index net dividends reinvested. Performances are presented using the chaining method. The Fund’s name was changed from Carmignac Portfolio Green Gold to Carmignac Portfolio Climate Transition.
| THEMATIC ASSET ALLOCATION |  |
| --- | --- |
| Green energy providers | 34.0% |  |
| Green Mobility | 5.8% |  |
| Renewable Energy | 28.2% |  |
| Green solution enablers | 49.5% |  |
| Building Efficiency | 6.7% |  |
| Circular Economy | 18.4% |  |
| Energy efficiency & Management | 3.3% |  |
| Green Technologies | 21.0% |  |
| Energy transition | 8.8% |  |
| Energy transition / Green Metal | 2.7% |  |
| Energy transition / Oil | 6.1% |  |
| Cash, Cash Equivalents and Derivatives Operations | 7.7% |  |
| CAPITALISATION BREAKDOWN |  | NET CURRENCY EXPOSURE OF THE FUND |

| TOP TEN |  |  |  |  | GEOGRAPHIC BREAKDOWN |  |
| --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |
| Name | Country | Green Thematic | % |  | USA |  |  | 46.6% |
| NEXTERA ENERGY | USA | Renewable Energy | 7.3% |  | South Korea |  | 10.8% |  |
| WASTE MANAGEMENT INC | USA | Circular Economy | 7.2% |  |  |  |  |  |
|  |  |  |  | France | 7.7% |
| SAMSUNG ELECTRONICS | South Korea | Green Technologies | 5.0% |  |  |
| RWE AG | Germany | Renewable Energy | 4.4% | United Kingdom | 6.0% |
| LG CHEM | South Korea | Green Mobility | 4.1% | Germany | 5.9% |
| ORSTED | Denmark | Renewable Energy | 3.9% | Denmark | 5.1% |
| GEOPARK LTD | Chile | Energy transition / Oil | 3.5% |  |  |  |  |  |
|  |  |  |  | Chile | 3.8% |
| DANAHER CORP | USA | Circular Economy | 3.4% |  |  |
| KINGSPAN GROUP | Ireland | Building Efficiency | 3.4% | Ireland | 3.7% |
| MICROSOFT CORP | USA | Green Technologies | 3.2% | China | 2.8% |
|  |  |  |  |  |  |

Total	45.5%
Italy
THEMATIC ASSET ALLOCATION
Green energy providers: Companies providing products, services or solutions that are low carbon like renewable energies or electric vehicles.
Green solution enablers: Companies offering products, services or solutions that directly or indirectly enable other companies to cut their carbon emissions or enhance their energy efficiency
(facilitators of solutions); for example, semiconductor companies that provide key components for electric vehicles.
Energy transition: Companies that contribute the most to the energy transition and the reduction in global carbon emissions, for example, some large integrated mining or oil companies that have
adopted drastic policies to shrink their carbon footprint and are expanding their commitment into renewables.
|  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Large (>10000 MEUR) |  |  |  | 71.3% | EUR |  | 19.9% |
|  |  |  |  |  |  |  |  |
| Mid (2000 - 10000 MEUR) |  |  | 12.6% |  | CHF | 0.0% |  |
|  |  |  |  |  |  |  |  |
| Small (<2000 MEUR) |  |  | 16.1% |  | US Dollar |  |  | 63.6% |
| Rebased weights |  |  |  |  |  |  |  |  |  |
|  | GBP | 4.6% |  |  |
| Latin America | 0.0% |  |  |
| ASIAN BLOC | 5.3% |  |  |
| Eastern Europe Middle East and Africa | 0.0% |  |  |
| AUD and CAD | 0.9% |  |  |
| Others | 5.8% |  |  |

Other countries
Rebased weights

Translation (ENFR, 2022-12-30):
# PROFIL
Classification SFDR : Article 9
Domicile : Luxembourg
Affectation des résultats : Capitalisation
Type de fonds : UCITS
Forme juridique : SICAV
Nom de la SICAV : Carmignac Portfolio
120
100
80
60
40
01/12
12/12
12/13
12/14
12/15
12/16
12/17
12/18
12/19
12/20
12/21
21.5%
-1.7%
12/22
Fin de l’exercice fiscal : 31/12
Souscription/Rachat : Jour ouvrable
Heure limite de passation d’ordres : avant 18:00 heures (CET/CEST)
Date de lancement du Fonds : 03/03/2003
Date de la 1ère VL : 10/03/2003
Devise de cotation : EUR
Actifs sous gestion du Fonds : 277M€ /
Carmignac Portfolio Climate Transition A EUR Acc	Indicateur de référence
PERFORMANCES CUMULÉES ET ANNUALISÉES (au 30/12/2022 - Net de frais)
Performances cumulées (%)	Performances annualisées (%)
296M$ (1)
Encours de la part : 199M€
VL : 285.65€
Catégorie Morningstar™ : Sector Equity Ecology

## GÉRANT(S) DU FONDS
1
Mois
1	3
an	ans
5
ans
10
ans
3
ans
5
ans
10
ans
Depuis le 14/05/2020
Michel Wiskirski depuis le 20/12/2018
| A EUR Acc	 Indicateur de référence | -6.5	 -7.3 | -15.1	 -13.0 | -2.0	 -1.4 | -7.5	 5.9 | -1.7  21.5 |   -0.7	 -0.5 | -1.5	 1.2 | -0.2	11.0	 2.0	11.9 | INDICATEUR DE RÉFÉRENCE(2) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Moyenne de la catégorie | -6.2 | -17.6 | 20.6 | 39.4 | 138.3 | 6.5 | 6.9 | 9.1	— | MSCI ACWI (USD) (Dividendes nets réinvestis). |
| Classement (quartile) | 3 | 2 | 4 | 4 | 4 | 4 | 4 | 4	— |  |

Source : Morningstar pour la moyenne de la catégorie et les quartiles.
A partir du 15/05/2020, le compartiment adopte une approche socialement responsable en matière d’environnement et investit de façon thématique dans des actions de sociétés qui, de l’avis du gérant du fonds, contribuent à l’atténuation du changement climatique.

## CONTRIBUTION À LA
| STATISTIQUES (%) |  |  |  | VAR |  |  | PERFORMANCE |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | 1 an | 3 ans |  | VaR du Fonds | 11.7% |  | Portefeuille actions | -6.6% |
| Volatilité du fonds | 18.6 | 26.6 |  | VaR de l'indicateur | 11.4% |  | Derivés actions | 0.5% |
| Volatilité du benchmark | 16.2 | 23.7 |  |  |  |  | Derivés devises | -0.3% |
| Ratio de Sharpe | -0.8 | -0.0 |  |  |  |  | Total | -6.3% |
| Bêta | 1.0 | 1.0 |  |  |  |  | Performances brutes mensuelles |  |
| Alpha | -0.0 | 0.0 |  |  |  |  |  |  |
| Calcul : pas hebdomadaire |  |  |  |  |  |  |  |  |

* Pour la part Carmignac Portfolio Climate Transition A 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 30/12/2022. (2) Le 15/05/2020 l'indicateur de référence a été remplacé par le MSCI AC WORLD NR (USD) net dividendes réinvestis. Les performances sont présentées selon la méthode du chainage. Le nom du fonds a été transformé de Carmignac Portfolio Green Gold à Carmignac Portfolio Climate Transition.
| ALLOCATION D’ACTIFS PAR THÉMATIQUE |  |
| --- | --- |
| Fournisseurs d'énergie verte | 34.0% |
| Mobilité verte | 5.8% |
| Energies renouvelables | 28.2% |
| Facilitateurs de solutions | 49.5% |
| Constructions “vertes” | 6.7% |
| Economie circulaire | 18.4% |
| Efficacité énergétique | 3.3% |
| Technologies “vertes” | 21.0% |
| Transition énergétique | 8.8% |
| Transition énergétique / Métaux verts | 2.7% |
| Transition énergétique / Pétrole | 6.1% |

THEMATIQUES
Fournisseurs d'énergie verte: Entreprises fournissant des produits, des services ou des solutions à faible teneur en carbone, comme les énergies renouvelables ou les véhicules électriques.
Facilitateurs de solutions: Entreprises offrant des produits, des services ou des solutions qui permettent directement ou indirectement à d’autres entreprises de réduire leurs émissions de carbone ou d’améliorer leur efficacité énergétique (des facilitateurs de solutions) ; par exemple, les entreprises de semi-conducteurs qui fournissent des composants essentiels pour les véhicules électriques.
Transition énergétique: Entreprises qui contribuent le plus à la transition énergétique et à la réduction des émissions mondiales de carbone, par exemple, certaines grandes sociétés minières ou pétrolières intégrées qui ont adopté des politiques radicales pour réduire leur empreinte carbone et qui étendent leur engagement au sein des énergies renouvelables.
Liquidités, emplois de trésorerie et opérations sur dérivés	7.7%
| RÉPARTITION PAR CAPITALISATION |  |  |  |  |  | EXPOSITION NETTE PAR DEVISE |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |
| Grandes (>10000 MEUR) |  |  |  | 71.3% |  | Euro |  | 19.9% |  |
|  |  |  |  |  |  |  |  |  |  |
| Moyennes (2000 - 10000MEUR) |  |  | 12.6% |  |  | Franc suisse | 0.0% |  |  |
|  |  |  |  |  |  |  |  |  |  |
| Petites (<2000 MEUR) |  |  | 16.1% |  |  | Dollar US |  |  | 63.6% |
| Poids rebasés |  |  |  |  |  |  |  |  |  |
|  | Livre Sterling | 4.6% |  |  |
| Bloc LATAM | 0.0% |  |  |
| Bloc Asie ex Japon | 5.3% |  |  |
| Bloc EEMA | 0.0% |  |  |
| Bloc $ (AUD et CAD) | 0.9% |  |  |
| Autres | 5.8% |  |  |


## PRINCIPALES POSITIONS
Nom	Pays	Thématique "vert"		% NEXTERA ENERGY	Etats-Unis	Energies renouvelables	7.3% WASTE MANAGEMENT INC	Etats-Unis	Economie circulaire	7.2% SAMSUNG ELECTRONICS	Corée du Sud  Technologies “vertes”	5.0% RWE AG	Allemagne	Energies renouvelables	4.4%
LG CHEM	Corée du Sud  Mobilité verte	4.1%
ORSTED	Danemark	Energies renouvelables	3.9%

## RÉPARTITION GÉOGRAPHIQUE
Etats-Unis Corée du Sud
France Royaume-Uni Allemagne
Danemark
46.6%
GEOPARK LTD	Chili	Transition énergétique / Pétrole
3.5%
Chili
DANAHER CORP	Etats-Unis	Economie circulaire		3.4% KINGSPAN GROUP	Irlande	Constructions “vertes”		3.4% MICROSOFT CORP	Etats-Unis	Technologies “vertes”		3.2% Total			45.5%
Poids rebasés
Irlande Chine Italie
Autres pays