Carmignac launches its third target maturity Fund
Carmignac Credit 2029
Three years after the creation of our first target maturity bond fund, we are now launching Carmignac Credit 2029 so that investors can benefit from high yields on credit markets.
Favourable conditions
After a particularly turbulent year for bond markets and more than a decade
of very low and even negative interest rates, the horizon has cleared for the asset class.
The rise in interest rates, brought about by restrictive monetary policies introduced to tackle rampant inflation, now offers investors more attractive returns.
With market conditions still uncertain, a buy-and-hold strategy that combines visibility, diversification and selectivity may be an appropriate option.
Key features of Carmignac Credit 2029
Carmignac Credit 2029 follows a buy-and-hold strategy on global credit markets. With a careful selection of issuers, a target performance objective and predetermined end date1, Carmignac Credit 2029 gives investors visibility over their investment and diversifies the risks to which they are exposed.
A vast investment universe
Carmignac Credit 2029 may invest in both developed and emerging markets, in securities with diverse risk/return profiles, to build a diversified and selective portfolio with an average investment grade2 rating.
A target performance objective
The Fund targets an annualised performance, net of management fees, of more than 4.22% for A EUR Acc and A EUR Ydis units between its inception on 20/10/2023 and maturity on 28/02/20291.
Risks that diminish over time
In addition to systematic hedging of currency risk and to the portfolio’s diversification, the very nature of the Fund allows to anticipate a diminution of interest rate and credit risks as the end date approaches.The objective does not constitute a promise of return or performance, the performance is not guaranteed.
Credit market expertise
The Fund benefits from the proven expertise of its management team, which already looks after two target maturity Funds launched in 2020 and 2022, as well as our Carmignac Portfolio Credit flexible credit strategy, launched in July 2017. Our experts have shown their ability to create value in different market conditions.
Citywire “Gold” rating
Carmignac is ranked Gold in Citywire’s “Bonds – Euro Corporates” category for its risk-adjusted return across the whole category over the 30/06/2016 – 30/06/20233 period.
EUR 10.2 billion
Credit assets under management at Carmignac4.Expertise reflected in a flexible strategy
Carmignac Portfolio Credit is in the top percentile of its Morningstar category for its performance since inception5.
Carmignac Credit 2029 A EUR Acc
- Recommended minimum investment horizon
- 5 years
- Risk indicator*
- 2/7
- SFDR - Fund Classification**
- Article 8
*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.
Main risks of the fund
Carmignac Credit 2027 A EUR Acc
- Recommended minimum investment horizon
- 5 years
- Risk indicator*
- 2/7
- SFDR - Fund Classification**
- Article 8
*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.
Main risks of the fund
Carmignac Credit 2025 A EUR Acc
- Recommended minimum investment horizon
- 5 years
- Risk indicator*
- 2/7
- SFDR - Fund Classification**
- Article 6
*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.
Main risks of the fund
Carmignac Portfolio Credit A EUR Acc
- Recommended minimum investment horizon
- 3 years
- Risk indicator*
- 2/7
- SFDR - Fund Classification**
- Article 6
*Risk Scale from the KID (Key Information Document). Risk 1 does not mean a risk-free investment. This indicator may change over time. **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.
Main risks of the fund
Please refer to the Fund’s prospectus to view the exhaustive list of risks.
Related articles
Letter to holders of the Fund Carmignac Credit 2025
Annual Dividends Distribution 2024 - Carmignac Credit 2025
Merger of “Flexible Allocation 2024” into “Flexible Bond” in Carmignac Portfolio
MARKETING COMMUNICATION. Please refer to the KID/prospectus of the Fund before making any final investment decisions.
Source : Carmignac, 20/10/2023. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. It does not constitute a subscription offer, nor does it constitute investment advice. The information contained in this document may be partial information and may be modified without prior notice. The decision to invest in the promoted funds should take into account all their characteristics or objectives as described in their prospectus. The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager. Carmignac Portfolio Credit is a sub-fund of Carmignac Portfolio SICAV, an investment company under Luxembourg law, conforming to the UCITS Directive. The Funds are common funds in contractual form (FCP) conforming to the UCITS Directive under French law. 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. The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager. Access to the Funds may be subject to restrictions with regard to certain persons or countries. The Funds may not be offered or sold, directly or indirectly, for the benefit or on behalf of a U.S. person, according to the definition of the US Regulation S and/or FATCA. The Funds present a risk of loss of capital. The risk, fees and ongoing charges are described in the KIDs (Key Information Document). The Funds’ respective prospectuses, KIDs, NAV and annual reports are available at www.carmignac.com, or upon request to the Management Company. The KIDs must be made available to the subscriber prior to subscription. The Management Company can cease promotion in your country at any time. Investors have access to a summary of their rights in English at the following links (paragraphe 6 “Summary of investor rights”): • France: https://www.carmignac.fr/en_GB/article-page/regulatory-information-3863; • Luxembourg: https://www.carmignac.lu/en_GB/article-page/regulatory-information-1385.