French investor Edouard Carmignac is handing over the responsibility for his flagship funds. Which doesn’t mean that he will stop doing what he knows best.
Frenchman Edouard Carmignac (pictured above) has the reputation of an investment genius. During the financial crisis, he managed to maintain the value of his clients’ investments and in some cases to even increase their worth. Quite to the contrary of how most publicly accessible investment products fared.
Carmignac earned himself a global following and money came his way in large quantities as the times improved on the markets. This however constrained him because big sums can’t be moved around as easily without an impact on security prices. Therefore, his performance became a little more moderate in recent years.
More Experts to Take Responsibility
He built a strong team of specialist to help him with his funds in recent years and now has even decided to take it one step further. The investment guru will pass on responsibility for the Carmignac Investissement to David Older (pictured above) with immediate effect, according to the company. Older, 48, joined the fund manager in 2015 as a fund manager for tech, telecommunications and media firms. In 2017 he was chosen as head of the equity team.
Carmignac also reshuffled the team overlooking the second flagship fund, Carmignac Patrimoine, a mixed fund. Carmignac, who had signed responsible for the equity side of affairs, and Rose Ouahba, who was head of the bond business, have been joined by Older. He will have joint responsibility with Carmignac for the stocks business. Carmignac will focus more on the strategic development of the funds.
