Carmignac

Carmignac is a French asset management firm founded in 1989 by Édouard Carmignac and Éric Helderlé.^[2] The firm is wholly employee-owned and as of 2021 had $44 billion of assets under management, according to Forbes.^[1]

Carmignac

Founded	1989; 36 years ago (1989)
Founder	Édouard Carmignac (Founder, Chairman and CIO) Éric Helderlé (Founder, Managing Director Carmignac Luxembourg)
Headquarters	24, Place Vendôme, Paris , France
Key people	Frédéric Leroux (Head of Cross Asset) Rose Ouahba (Head of Fixed Income) David Older (Head of Equities) Didier Saint-Georges (Managing Director, Member of the Strategic Investment Committee Carmignac Gestion)
Products	Asset Management
Total assets	$44 billion[1] (2021)
Number of employees	281
Website	www.carmignac.com

History

Foundation and early year

After its founding in 1989 in Paris, the firm opened its first office abroad in Luxembourg in 1999. In 2008, offices were established in Madrid and Milan, followed by London in 2012 and Zurich in 2015.^[2][3]

In 2000, Carmignac’s assets amounted to €1 billion, reaching €13 billion in 2007.^[4]

The firm’s flagship fund, Carmignac Patrimoine, was not affected by the 2008 financial crisis, which led to an increase in assets in the following years,^[5] and it became one of the largest funds in Europe for a while, according to the Financial Times.^[6]

2018 - Present

In September 2018, it was announced that Édouard Carmignac would step down from running the Carmignac Investissement Fund, management of which passed to David Older.^[6]

Edouard Carmignac announced in January 2019 that he would step down as the portfolio manager of the Carmignac Patrimoine fund after holding this position for 30 years.^[7][8] Rose Ouahba and David Older succeeded Carmignac as dual leads of the Fund.^[9] However, Edouard Carmignac maintained his role as a member of the strategic investment committee and chief investment officer (CIO).^[10]

In June 2019, the company agreed to pay a €30 million as part of a settlement under a public interest judicial agreement against the discontinuation of proceedings by the National Financial Prosecutor's Office.^[11]

Funds managed

As of 2019^[update], Carmignac managed 21 investment strategies. These activities include, among others, equity and fixed income management.^[2][12]

In May 2019, it was announced that Carmignac launched six new OEICs funds in the United Kingdom in a push to increase its European presence beyond the French market.^[13][14] The funds are similar to those the firm is already managing in France.^[13] In April 2019, Marie-Anne Allier took over the co-management of Carmignac Sécurité Fond. In the same year, three of the company's funds were certified with the French SRI label for sustainable investment vehicles.^[15]

The firm launched two more funds in June that year, called the Carmignac Portfolio Grandchildren fund and the Carmignac Portfolio Family Governed fund. These aim to provide financial security to children.^[16]