The year is 2018 in the life of Edouard Carmignac a extraordinary time. The 71-year-old founder and head of the Paris Fund company has achieved what not a few successful money managers dream about. He has opened on the French Mediterranean island of Porquerolles with the money his Foundation, a Museum which, in the opinion of international experts in the art: works by contemporary artists such as Jean-Michel Basquiat can be seen there, as well as the paintings of old Masters such as Sandro Botticelli, embedded in the unusual natural beauty of the island. It is the completion of Carmignacs life-long dream.
editor in the area of “money & More” the Frankfurt General Sunday newspaper.
F. A. Z.
How bitter it must be because that Carmignac must at the same time, experience how his real life’s work into question: investors doubt whether their money is safe in funds from Carmignac. This shows, for example, the most popular Carmignac Fund, Carmignac Patrimoine. The mixed funds, which can invest in both equities as well as bonds came to the beginning of the year to a volume of 22 billion euros, so he managed to only 15 billion euros. This is not only the currently falling share prices attributable to them, but above all a unique confidence vote against the 71-year-old Carmignac. Because, for the Carmignac Patrimoine he is different than many of the other funds of his house himself as a Fund Manager responsible.
The long spoiled by Success recently experienced a loss of control, even as he is for the financial sector in the Hype and crash, sometimes close to each other, is unusual. Because Carmignac has just ascended to one of the most popular money managers in Europe, because he brought the money of his investors safely through the worst financial crisis of this century: the year of the collapse of Lehman brothers in 2008, graduated from Carmignac, unlike almost all its competitors with a small Plus.
“We have made a number of errors”
This was a masterpiece of the French in the financial scene for the Star, also many Germans familiar Carmignac then your money. His brilliant performance has made Carmignac even the trademark of his company, who resides in the posh Place Vendôme in Paris: “Carmignac, the risk Manager,” was its advertising slogan.
But the Fatal for all investors is: in the current turbulent times on the stock market, the Fund company to your claim is to protect the money of investors to risks. The performance of the Carmignac Patrimoine is also compared to the competition in the recent past, catastrophic.
Almost ten percent is the Minus with a view on the past twelve months, in the most recent three years of loss in the cut was around three percent per year, and even in the past five years, only a minimal increase of just 0.7 per cent a year on average. Carmignac, who used to be famous for the way he had his Portfolio in the handle, seems to have the control of it is lost. And there is doubt whether he will ever find back to old strength.