Carmignac Portfolio Patrimoine A EUR Acc

The Sub-Fund seeks to outperform its reference indicator over a recommended investment horizon of three (3) years. The search for performance involves flexible, discretionary management on equity, fixed income, foreign exchange and credit markets, based on the manager's expectations of how economic and market conditions will evolve. The Sub-Fund may adopt a defensive strategy if the markets are expected to perform negatively. Up to 50% of the Sub-Fund's net assets are exposed to equity markets, and at least 40% invested in bonds, negotiable debt securities and money market instruments.