Share Class
A EUR Acc • FR0010147603
Capturing long-term global equity trends with strong downside risk management
- A core equity portfolio invested in the most promising current market trends and dynamics.
- A Feeder Fund of international equity Fund Carmignac Investissement.
- A flexible and actively managed equity exposure (0% to 100%).
Key documents
Asset Allocation
Equities96.7 %
Other3.3 %
Data as of: Dec 31, 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
+ 307.6 %
+ 70.3 %
+ 29.6 %
+ 42.0 %
+ 12.7 %
To 10/02/2026
Calendar 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 2024Calendar Year Performance 2025
+ 1.3 %
+ 0.3 %
- 16.1 %
+ 9.1 %
+ 27.0 %
- 6.2 %
+ 2.1 %
+ 13.2 %
+ 10.2 %
+ 16.9 %
Net Asset Value
407.61 €
Asset Under Management
277 M €
Net Equity Exposure31/12/2025
97.0 %
SFDR - Fund Classification
Article
8
Data as of: Dec 31, 2025.
Data as of: Feb 10, 2026.
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.
Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. The SFDR classification of the Funds may change over time.
Carmignac Investissement Latitude 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: Jan 30, 2026.Fund management team
Performance commentary
- In this context, the fund delivered a positive performance, outperforming its reference indicator over the period.
- The portfolio benefited significantly from our exposure to the South Korean market, particularly SK Hynix and Samsung Electronics, whose share prices rose sharply amid strong investment plans by major US players in AI-related infrastructure. In the same vein, Taiwan Semiconductor also made a positive contribution to performance during the period.
- By contrast, our investments in software were somewhat disappointing, with names such as Salesforce and ServiceNow affected by ongoing uncertainty regarding the impact of AI on their business models.
- Our European holdings performed well over the period, supported by the share price appreciation of Prysmian, Novo Nordisk and Siemens.
- Finally, our hedges on the U.S. and Southeast Asian markets slightly weighed on performance during the period.
Outlook strategy
- The current market regime is being shaped by momentum: it powered last year’s rally and has driven the sharp sell-off seen in recent weeks in certain parts of the market. A significant share of this momentum has been tied to the AI narrative; as this story evolves, reversals are likely to remain fast and violent.
- Selective re-rating of casualties: We maintain very selective exposure to financial infrastructure, payments and software names that have been indiscriminately sold off, without fundamental justification.
- Diversifying beyond AI: Non-AI risk exposure has been reinforced through other lagging segments, including selected biotechnology names.
- More selective AI exposure: We are concentrating on higher-quality areas of AI (e.g. SK Hynix, TSMC), while reducing exposure to fully priced, high-beta AI names.
- Rising volatility and dispersion: We are adding to long-term convictions that have suffered significant de-ratings, while continuing to reduce exposure to positions that have, so far, been resilient during the early-February volatility episode.
- In this context, we remain highly active in managing equity exposure and have partially hedged the USD exposure of the master fund.
Performance Overview
Data as of: Feb 10, 2026.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 11/02/2026
Key figures
Below are some key figures to help you understand the Fund's management and positioning.
Exposure Data
Data as of: Dec 31, 2025.Net Equity Exposure97.0 %
Global investment rate98.7 %
Master Fund Allocation98.0 %
To Access the weekly view
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Manager.
Fund Management Team
I always strive to fully exploit the Fund’s dynamic nature. The return of inflation is the return of the economic cycle where truly active management will stand out even more as the recent years have shown.
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Changes to the Carmignac Investissement Latitude Fund
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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.
The Funds are common funds in contractual form (FCP) conforming to the UCITS Directive under French law except Carmignac Investissement Latitude, alternative investment fund (AIF) under French law.
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