Carmignac Emerging Patrimoine A CHF Acc Hdg

The sub-fund aims to outperform its reference indicator over a period exceeding five years. The reference indicator comprises 40% MSCI EM NR index, 40% JPM GBI-EM Global Diversified Composite index and 20% €STR Capitalised index. The Sub-Fund's reference indicator is rebalanced quarterly. The sub-fund is invested mainly in international equities and bonds of emerging countries. It offers active management on the international equity, fixed income, credit and currency markets. No more than 50% of the portfolio's net assets will be exposed to equities. Between 40% and 100% of the assets of the sub-fund shall be invested in fixed or variable rate bonds, transferable debt securities or treasury bills. The average rating of the bonds held by the sub-fund either directly or indirectly via UCITS shall be at least investment grade (as rated by at least one of the leading rating agencies). The sub-fund may invest in inflationlinked bonds. The manager may use Relative Value strategies as performance drivers, looking to take advantage of the relative value. The sub-fund uses derivatives for hedging or arbitrage purposes, or to expose the portfolio to the following risks (directly or via indices): currencies, bonds, credit (up to 30% of net assets), equities (all categories of capitalisation), ETFs, dividends, volatility, variance (the latter two categories for up to 10% of net assets) and commodities (up to 10% of assets). The derivatives available are options (vanilla, barrier, binary), futures and forwards, swaps (including performance) and CFDs (contracts for difference) on one or more underlyings. Overall exposure to derivatives is controlled by the expected leverage, calculated as the sum of nominal amounts without netting or hedging, of 500%; this may be higher under certain conditions. The maximum Relative VaR is limited to 2. The overall modified duration of the fixed income portfolio is between -4 and +10. Modified duration is defined as the change in portfolio capita

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No