Carmignac Portfolio Sécurité F EUR Acc

This sub-fund invests mainly in bonds and other debt securities denominated in euro.
The investment strategy aims to outperform the reference indicator, the Euro MTS 1-3 year index, with lower volatility:
– by exposing the portfolio to the government and corporate bonds from issuers rated “investment grade” by at least one of the main rating agencies. The sub-fund reserves the right to invest in bonds issued by “high yield” corporate and government issuers, limiting the investment to 10% of the net assets for each category of issuer; and
– by varying the overall modified duration of the portfolio according to the manager’s expectations.