Carmignac Portfolio EM Debt

The Sub-Fund’s investment objectives are to deliver sustainable positive returns with attractive Sharpe ratio over a recommended minimum investment period of three years while outperforming its reference indicator, calculated with coupons reinvested, and making a positive contribution to society and the environment. The Sub-Fund implements a total return approach striving to deliver sustainable positive returns with attractive Sharpe ratio whatever the market environment over the investment horizon of 3 years. This total return mindset allows to participate in rising markets, while implementing a defensive approach, by hedging the portfolio to market risks, during declining market expectations.