Share Class
LU0992629740
Unlock the untapped potential of Asian markets beyond China:
- Capture the growth potential of Asian markets beyond China, thanks to a rigorous investment process focusing on quality companies, with sustainable profitability.
- Capitalise on the expertise of a seasoned investment team to unlock hidden opportunities through a small and mid-cap bias, a segment often neglected by research analysts and consequently overlooked by investors.
- Gain access to a vast universe and a wide range of investment themes, offering portfolio diversification.
Key documents
Asset Allocation
Equities91.1 %
Other8.9 %
Data as of: Apr 30, 2025.
Risk Indicator
1
2
3
4
5
6
7
Lowest risk
Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 105.3 %
+ 60.9 %
+ 57.8 %
+ 29.8 %
+ 7.1 %
To 05/06/2025
Calendar Year Performance 2015Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023Calendar Year Performance 2024
+ 3.7 %
+ 4.9 %
+ 19.0 %
- 8.0 %
+ 10.7 %
+ 0.9 %
+ 26.4 %
- 21.6 %
+ 13.8 %
+ 30.1 %
Net Asset Value
205.27 €
Asset Under Management
109 M €
Net Equity Exposure30/04/2025
91.1 %
SFDR - Fund Classification
Article
8
Data as of: Apr 30, 2025.
Data as of: Jun 5, 2025.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged. The Sustainable Finance Disclosure Regulation (SFDR) 2019/2088 is a European regulation that requires asset managers to classify their funds as either 'Article 8' funds, which promote environmental and social characteristics, 'Article 9' funds, which make sustainable investments with measurable objectives, or 'Article 6' funds, which do not necessarily have a sustainability objective. For more information please refer to https://eur-lex.europa.eu/eli/reg/2019/2088/oj.
Carmignac Portfolio Asia Discovery fund performance
Take a look at the Fund's performance supported by our Fund managers’ market commentary and strategy insight.Our monthly comments
Data as of: May 30, 2025.Fund management team
![[Management Team] [Author] Amol Gogate](https://carmignac.imgix.net/uploads/NextImage/0001/18/206d57f4169601a1b5be4a1556a54ff4db7b53d8.png?auto=format%2Ccompress&fit=fill&w=3840)
Amol Gogate
Fund Manager
Performance commentary
- The fund performed very well this month, in line with its reference indicator.
Our portfolio benefited from its exposure to Taiwanese stocks such as TSMC, Jentech Precision Industrial and Gold Circuit Electronics.
South Korean semiconductor manufacturer SK Hynix also saw its stock rise.
Our portfolio of Indian stocks also contributed positively to the fund, with Eureka Forbes and Max Estates.
However, we were somewhat disappointed by the decline in Kotak Mahindra and Kfin Technology.
Outlook strategy
- Emerging Asia is a vast and diverse universe offering fertile ground for stock selection and attractive growth prospects. We remain constructive on Asian small and mid caps due to encouraging macroeconomic indicators, where we are mainly positioned.
India remains our main geographical weighting and an excellent local market for finding long-term growth stocks. Our trip to India reinforced our view of the country's promising outlook, and the recent correction offers attractive entry points.
In addition, the country is emerging as one of the main beneficiaries of trade tensions between the US and the rest of the world.
Finally, we are maintaining significant exposure to artificial intelligence stocks through our small- and mid-cap companies operating in the semiconductor value chain in Taiwan and Korea, which should perform well once markets refocus on fundamentals.
Nevertheless, in the short term, we remain cautious, particularly in Southeast Asia, due to the Trump administration's introduction of customs barriers.
Over the month, we reduced our positions in Prodia Widyahusada and Chicony Electronics.
Performance Overview
Data as of: Jun 5, 2025.Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). Morningstar Rating™ : © Morningstar, Inc. All Rights Reserved. The information contained herein: is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.From 01/01/2013 the equity index reference indicators are calculated net dividends reinvested. The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 06/06/2025
Carmignac Portfolio Asia Discovery Portfolio overview
Below is an overview of the composition of the portfolio.Geographical Breakdown
Data as of: Apr 30, 2025.| Asia | 78.8 % |
| Middle East | 6.7 % |
| Latin America | 6.4 % |
| Asia-Pacific | 2.8 % |
| Eastern Europe | 1.8 % |
| North America | 1.6 % |
| Africa | 1.3 % |
| Europe | 0.5 % |
To Access the weekly view
Key figures
Below are the key figures for the Fund, which will give you a clearer idea of the Fund's management and equity positioning.Exposure Data
Data as of: Apr 30, 2025.Equity Investment Weight91.1 %
Net Equity Exposure91.1 %
Number of Equity Issuers102
Active Share81.2 %
To Access the weekly view
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Managers.Fund Management Team
Amol Gogate
Fund Manager
We seek to select the most attractive companies in the universe of emerging small and mid-caps and underexploited frontier markets through a socially responsible investment approach.
Amol Gogate
Fund Manager
Related articles
Emerging equities • August 5, 2024 • English
Carmignac Portfolio Emerging Discovery: Letter from the Fund Managers
3 minute(s) read
![[Fund News] [Background image] [Green] Monthly dividends distribution](https://carmignac.imgix.net/uploads/NextImage/0001/08/%5BMain-Media%5D-%5BFund-News%5D-Monthly-dividends-distribution.jpg?auto=format%2Ccompress&fit=fill&w=3840)
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Reference to certain securities and financial instruments is for illustrative purposes to highlight stocks that are or have been included in the portfolios of funds in the Carmignac range. This is not intended to promote direct investment in those instruments, nor does it constitute investment advice. The Management Company is not subject to prohibition on trading in these instruments prior to issuing any communication. The portfolios of Carmignac funds may change without previous notice.
The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
Carmignac Portfolio is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.
Market environment
After a very turbulent April due to Donald Trump's tariffs, he held numerous talks with his trading partners, revised certain tariffs downward and/or postponed them, leading to a rebound in the markets.
In India, economic indicators pointed to growth, with the manufacturing PMI expanding at 57.6 and the services PMI at 58.8 for May.
In May, the Indonesian central bank cut its key interest rate by 25 basis points to 5.5%, affirming its confidence in its ability to keep inflation under control.