Carmignac unveils Europe-focused multi-asset fund

Eugenia Jiménez
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Carmignac unveils Europe-focused multi-asset fund

Carmignac has expanded its product offer launching the European version of its flagship Patrimoine multi-asset fund aimed at long-term investors.

Carmignac Portfolio Patrimoine Europe – to be overseen by Keith Ney, fund manager of the fixed income flagship Carmignac Sécurité, and head of European equities Mark Denham, – will invest at least half of its assets in fixed income, while its net equity exposure may vary from 0% to 50%.

Keith Ney joined Carmignac in 2005 and is a part of the fixed income team headed by Rose Ouahba. After having served for five years as head of Credit, he has managed the Euro denominated bond fund Carmignac Sécurité since 2013. Prior to joining Carmignac, he worked for five years at Lawndale Capital Management in the US.

Mark Denham joined Carmignac in 2016 as head of European Equities, in the team of David Older, and now manages the European large cap equity Fund Carmignac Grande Europe. Before joining the firm, he worked for 13 years at Aviva Investors in London, where he was in charge of pan-European equities.

Carmignac Portfolio Patrimoine Europe Fund has the ability to be net short duration and benefit from the current rising rates environment thanks to a wide modified duration range from -4 to +10. In addition, non-European currency exposure is limited to 20%.

The fund is underpinned by the same non-benchmarked, flexible, multi-asset investment philosophy that is a hallmark of the Patrimoine offer, which aims to generate long-term performance in a wide variety of investment environments and serve as a useful diversification tool for investors.

Carmignac’s CIO Edouard Carmignac, said: “With the addition of Carmignac Portfolio Patrimoine Europe, we are pleased to expand our range of Patrimoine solutions in order to meet our clients’ long-term savings needs. I am confident that Keith and Mark, having already demonstrated their ample abilities and expertise will provide the ideal team for the task.”

Eugenia Jiménez
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Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.