Thursday, Apr 9, 2020
International Finance
Asset Management Featured

Carmignac shifts US offshore and Latin America operations to Spain

Carmignac Spain
The asset management firm’s decision was based on its organisational assessment

French asset management firm Carmignac has moved its US offshore and Latin America’s business operations to Madrid, Spain. According to Carmignac, the decision was based on its organisational assessment. 

The firm said in a statement that its operational transition will not affect clients in the US and Latin America. The firm will continue its business operations in both the US and Latin American markets, according to a media report

The firm has strengthened its UK sales presence, with an improved performance last year. Its performance gain has increased 2.7 percent in the year to January 24. 

Carmignac demonstrated significant performance last year and is expected to see a turnaround in 2020. The firm said in a statement, “No turnaround would be possible without performance and last year most of our funds had more than commendable performance. [But] beyond performance, in terms of preparing the future, which is my main concern now, we have continued to make some key hirings. I truly believe now that we have one of the best equity and bond teams in Europe.” 

It was established in 1989. Last year, the firm launched a global credit fund called the Carmignac Portfolio Unconstrained Credit. On the back of last year’s performance, Carmignac had more than €35 billion in assets under management as of September 2019. It highlighted that there was no decrease in assets under management and predicts an increase again. 

The firm is also eyeing China as equity opportunities on the mainland expand. Carmignac plans to take an swift approach to equity exposure this year, a media report said. It firmly believes that making transitions between segments and regions at the right time is crucial to its performance in 2020. 

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