20 NOV, 2023
Carmignac has announced the launch of its third target-maturity credit fund, Carmignac Credit 2029. This launch follows its two previous funds (2025 and 2027 maturities).
Carmignac Credit 2029 launched on 20 October 2023 and is managed by Carmignac’s award-winning credit team, including head of credit, Pierre Verlé and fund managers, Alexandre Deneuville and Florian Viros.
The fund, which matures in 2029, invests in selected corporate credit instruments and aims to provide a target annualized performance between its inception and maturity date, while hedging currency risk.
Securities are selected using the team’s rigorous investment approach, combining deep company research and credit market analysis to estimate their cost of risk. The approach makes it possible to build a diversified portfolio of corporate bonds with an attractive risk-adjusted weighting and high-visibility income.
“Credit markets have been one of the few asset classes to reprice as capital ceased to be free, pushing up credit yields and creating opportunities for investors. However, the macro environment, with the prospects of inflation and slower growth, mean market volatility is at the top of many clients’ minds. Our target-maturity strategy, which focuses on bottom-up credit selection, aims to take advantage of the opportunities while providing stability and visibility over a defined investment period. We’re thrilled the strategy has resonated with investors and are delighted to launch a third fund. We’re also pleased to further grow our credit offering, aligned with our desire to offer a broad range of fixed-income funds, suitable for different investor profiles. ”
* The fund is registered in: Spain, Portugal, Germany, Austria, Italy, Luxembourg, Belgium and France; and we are waiting on Switzerland.