Carmignac promotes Yunfan Bao to co-manager of Carmignac China New Economy and strengthens the analysis team
12 MAY, 2026
By Joanna Piwko from RankiaPro Europe
Carmignac has announced the promotion of Yunfan Bao to co-manager of the Carmignac China New Economy fund, a role he shares with Naomi Waistell from April 1, 2026. At the same time, the company has announced new entries and internal movements in the analysis team, with the aim of expanding sector coverage and consolidating research capabilities on technology, sustainability and industrial sectors.
Yunfan Bao at the helm of Carmignac China New Economy
Having joined Carmignac in 2021 as an analyst specializing in Greater China securities within the emerging markets equity team, Yunfan Bao now takes on the role of co-manager of the Carmignac China New Economy fund. In his new role, he will contribute to the construction of the portfolio and investment decisions of the strategy, leveraging his experience in technology sectors and innovation-driven companies in Greater China.
Bao began his career in 2018 at Goldman Sachs in Hong Kong, before moving to Fullgoal Fund Management in Hong Kong in 2020 as a Chinese equity analyst specializing in the TMT sector. In his academic career, he earned a Master of Science in Finance from the Simon Business School at the University of Rochester and a degree in Finance from Zhejiang University.
New appointments to expand sector research
In addition to Bao's promotion, Carmignac has strengthened the team of analysts with the entry of Eirik Fladmark and Kai Johns and the internal transfer of William Benoit to the equity team. Fladmark, who joined in February 2026 and is based in London, is a technology analyst specializing in software and artificial intelligence. Before joining Carmignac, he worked as a technology analyst at J.P. Morgan and as a forward deployed engineer at Palantir. At Carmignac, he joins Somesh Batra, an analyst focused on hardware, and will also collaborate with the wider investment team, including Kristofer Barrett, manager of the Carmignac Portfolio Tech Solutions, Carmignac Investissement and the equity component of Carmignac Patrimoine.
William Benoit, already an ESG analyst at Carmignac since 2019, has moved to the equity team with a generalist mandate. The company highlights that he brings skills developed in the utility, materials and energy sectors, as well as a knowledge of industrial value chains, regulatory dynamics and investment themes related to the transition. Benoit has a degree in economics from Loughborough University, has a master's degree in corporate and banking finance from EDHEC Business School and holds the CFA certification.
Kai Johns has instead been appointed ESG analyst in the sustainable investment team, specializing in environmental research. He comes from Greenbank Investments, where he worked for seven years, and has a law degree from the University of Cambridge. Johns also holds the CFA certification. According to Carmignac, these appointments are intended to further strengthen the company's research capabilities and support the identification of long-term investment opportunities and innovation in various sectors.
