Carmignac Emergents Ratings Under Review as Pickard Departs

The departure of Carmignac's head of emerging markets equities has caused Morningstar to review their positive fund ratings

Holly Cook 27 February, 2015 | 9:54AM
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Carmignac Gestion's head of emerging markets equities, Simon Pickard, is leaving the firm to pursue "a personal project", leaving the management of the flagship Carmignac Emergents fund to colleagues Xavier Hovasse and David Park.

Pickard has been with Carmignac for 12 years and has managed the Emergents fund for the past seven years. He said he would announce details of his new personal project "at the right point in time".

Morningstar analyst Thomas Lancereau has placed his ratings on both the Carmignac Emergents and Carmignac Portfolio Emergents funds under review, pending meetings with the new managers to discuss their plans for the funds. Both funds previously held a Morningstar Analyst Rating of Bronze – a positive rating on the scale of Gold to Negative, but the funds' underperformance of peers in 2013 and 2014 as well as their slightly higher-than-average ongoing charges prevented them from being awarded a higher accolade.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Carmignac Emergents A EUR Acc1,460.47 EUR0.68Rating
Carmignac Pf Emerg Discv A EUR Acc1,754.43 EUR0.76Rating
Carmignac Pf Emerg Patrim A EUR Acc153.22 EUR0.33Rating
Carmignac Pf Emergents F EUR Acc209.47 EUR0.72Rating

About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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