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
Facebook Twitter LinkedIn

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.

In addition to managing the Emergents funds, Pickard also managed the emerging markets equities portion of the Carmignac Emerging Patrimoine fund, alongside Edward Cole, who is also leaving the firm. Hovasse will take over responsibility for the emerging markets equities in the Emerging Patrimoine fund. In addition to taking on the firm’s flagship emerging markets offering, Hovasse and Park will continue to manage the Carmignac Emerging Discovery fund.


The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Carmignac Emergents A EUR Acc  
Carmignac Pf Emerg Discv A EUR Acc1,841.44 EUR0.56Rating
Carmignac Pf Emerg Patrim A EUR Acc137.96 EUR0.42Rating
Carmignac Pf Emergents F EUR Acc  

About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures