Its flexible and opportunistic style enables this fund to implement an unconstrained and conviction-driven allocation. It aims to outperform its reference indicator (75% BofA Merrill Lynch Euro Corporate Index) over a minimum recommended investment period of two years.
The fund is co-managed by Pierre Verlé, head of credit, and Alexandre Deneuville, fixed income fund manager. It will combine macroeconomic analysis and rigorous bottom- up selection to aim for an optimal risk/return profile along the credit cycle.
The portfolio construction is a result of the fund manager's views and market analysis with no benchmark bias in order to optimise risk management, which has been a hallmark of Carmignac's investment style for over 30 years. Risk management is fully embedded in every step of the investment process on a qualitative and quantitative basis.Their unconstrained approach allows them to look for performance drivers by buying out-of-the-mainstream securities where they see value.
Rose Ouahba, head of fixed income, said: "We are pleased to extend our credit expertise to clients with the launch of Carmignac Portfolio Unconstrained Credit fund. Verlé and Deneuville's strong expertise in this asset class, combined with our flexible and unconstrained approach, will enable them to navigate the credit markets and capture non consensus opportunities."
As of today, the fund is registered in Luxembourg, Switzerland, Germany, Austria, Spain, France, Italy, Belgium, and Singapore.