Institutional Money, Ausgabe 1 | 2026

CARMIGNAC EMERGENTS Vielversprechende Aktien-Chancen in den Emerging Markets nachhaltig nutzen. HAUPTRISIKEN DES FONDS: Aktienrisiko: 'HU )RQGV NDQQ YRQ $NWLHQNXUVVFKZDQNXQJHQ EHWURΊHQ VHLQ GHUHQ $XVPD¡ YRP +DQGHOVYROXPHQ GHU $NWLHQ GHU 0DUNWNDSLWDOLVLHUXQJ RGHU DQGHUHQ H[WHUQHQ )DNWRUHQ DEK¦QJW Schwellen- länder-Risiko 'LH 5DKPHQEHGLQJXQJHQ XQG GLH $XIVLFKW LQ ȋDXIVWUHEHQGHQȉ 0¦UNWHQ N¸QQHQ YRQ GHQ 6WDQGDUGV GHU HWDEOLHUWHQ LQWHUQDWLRQDOHQ %¸UVHQ DEZHLFKHQ XQG VLFK DXI GLH 3UHLVH GHU E¸UVHQQRWLHUWHQ ,QVWUXPHQWH DXVZLUNHQ LQ GLH GHU )RQGV LQYHVWLHUHQ NDQQ Währungsrisiko: 'DV :¦KUXQJVULVLNR LVW PLW GHP (QJDJHPHQW LQ HLQHU :¦KUXQJ GXUFK 'LUHNWDQODJHQ RGHU 'HULYDWH YHUEXQGHQ GLH QLFKW GLH %HZHUWXQJVZ¦KUXQJ GHV )RQGV LVW Risiko durch aktive Allokations-Entscheidungen des Portfoliomanagements: 'LH YRQ GHU 9HUZDOWXQJVJHVHOOVFKDIW HUZDUWHWH (QWZLFNOXQJ GHU )LQDQ]P¦UNWH ZLUNW VLFK GLUHNW DXI GLH 3HUIRUPDQFH GHV )RQGV DXV GLH YRQ GHQ DXVJHZ¦KOWHQ 7LWHOQ DEK¦QJW Der Fonds ist mit einem Kapitalverlustrisiko verbunden. 4XHOOH &DUPLJQDF 5LVLNRVNDOD GHV .,' %DVLVLQIRUPDWLRQVEODWW 5LVLNR EHGHXWHW QLFKW GDVV GLH $QODJH ULVLNRORV LVW 'LHVHU ,QGLNDWRU NDQQ VLFK LP /DXIH GHU =HLW ¦QGHUQ 'LH 2ΊHQOHJXQJVYHURUGQXQJ 6XVWDLQDEOH )LQDQFH 'LVFORVXUH 5HJXODWLRQ 6)'5 'LH 6)'5 .ODVVL΋]LHUXQJ GHU )RQGV NDQQ VLFK LP /DXIH GHU =HLW ¦QGHUQ 0$5.(7,1*$1=(,*( 'LHVHV'RNXPHQWLVWI¾USURIHVVLRQHOOH$QOHJHUEHVWLPPW %LWWHOHVHQ6LHGDV.,' GHQ3URVSHNW EHYRU6LHHLQHHQGJ¾OWLJH$QODJHHQWVFKHLGXQJWUHΊHQ 'LHVH'RNXPHQWHG¾UIHQRKQHYRUKHULJH*HQHKPLJXQJGHU9HUZDOWXQJV JHVHOOVFKDIW ZHGHU JDQ] QRFK WHLOZHLVH UHSURGX]LHUW ZHUGHQ 'LHVH 'RNXPHQWH VWHOOHQ ZHGHU HLQ =HLFKQXQJVDQJHERW QRFK HLQH $QODJHEHUDWXQJ GDU 'LHVH 'RNXPHQWH VWHOOHQ NHLQH %XFKKDOWXQJV 5HFKWV RGHU 6WHXHUEHUDWXQJ GDU XQG VROOWHQ QLFKW DOV VROFKH KHUDQJH]RJHQ ZHUGHQ 'LHVH 'RNXPHQWH GLHQHQ DXVVFKOLH¡OLFK ]X ,QIRUPDWLRQV]ZHFNHQ XQG G¾UIHQ QLFKW ]XU %HXUWHLOXQJ GHU 9RU]¾JH HLQHU $QODJH LQ GLH LQ GLHVHQ 'RNXPHQWHQ JHQDQQWHQ :HUWSDSLHUH RGHU $NWLHQ RGHU I¾U DQGHUH =ZHFNH KHUDQJH]RJHQ ZHUGHQ 'LH LQ GLHVHQ 'RNXPHQWHQ HQWKDOWHQHQ ,QIRUPDWLRQHQ N¸QQHQ XQYROOVW¦QGLJ VHLQ XQG RKQH YRUKHULJH $QN¾QGLJXQJ JH¦QGHUW ZHUGHQ 6LH JHEHQ GHQ 6WDQG GHU ,QIRUPDWLRQHQ ]XP =HLWSXQNW GHU (UVWHOOXQJ GHU 'R NXPHQWH ZLHGHU VWDPPHQ DXV LQWHUQHQ XQG H[WHUQHQ 4XHOOHQ GLH &DUPLJQDF DOV ]XYHUO¦VVLJ HUDFKWHW XQG N¸QQHQ XQYROOVW¦QGLJ VHLQ 'DU¾EHU KLQDXV ZLUG NHLQH *HZ¦KU I¾U GLH 5LFKWLJNHLW GLHVHU ,QIRUPDWLRQHQ ¾EHUQRPPHQ 'HPHQWVSUHFKHQG ZLUG NHLQH *HZ¦KU I¾U GLH 5LFKWLJNHLW XQG =XYHUO¦VVLJNHLW GLHVHU ,QIRUPDWLRQHQ ¾EHUQRPPHQ XQG &DUPLJQDF LKUH 7RFKWHUJHVHOOVFKDIWHQ 0LWDUEHLWHU XQG 9HUWUHWHU OHKQHQ MHGH +DIWXQJ I¾U )HKOHU XQG $XVODVVXQJHQ HLQVFKOLH¡OLFK GHU +DIWXQJ JHJHQ¾EHU 3HUVRQHQ DXIJUXQG YRQ )DKUO¦VVLJNHLW DE 'HU =XJDQJ ]X GHQ )RQGV NDQQ I¾U EHVWLPPWH 3HUVRQHQ RGHU /¦QGHU HLQJHVFKU¦QNW VHLQ 'LHVH 'RNXPHQWH VLQG QLFKW I¾U 3HUVRQHQ LQ /¦QGHUQ EHVWLPPW LQ GHQHQ GLH 'RNXPHQWH RGHU GLH %HUHLWVWHOOXQJ GLHVHU 'RNXPHQWH DXIJUXQG GHU 6WDDWVDQJHK¸ULJNHLW RGHU GHV :RKQVLW]HV GLHVHU 3HUVRQHQ RGHU DXV DQGHUHQ *U¾QGHQ YHUERWHQ VLQG 3HUVRQHQ I¾U GLH VROFKH 9HUERWH JHOWHQ G¾UIHQ QLFKW DXI GLHVH 'RNXPHQWH ]XJUHLIHQ 'LH %H VWHXHUXQJ K¦QJW YRQ GHQ MHZHLOLJHQ 8PVW¦QGHQ GHU EHWUHΊHQGHQ 3HUVRQ DE 'LH )RQGV VLQG QLFKW I¾U GHQ 9HUWULHE DQ 3ULYDWDQOHJHU LQ $VLHQ -DSDQ XQG 1RUGDPHULND UHJLVWULHUW XQG QLFKW LQ 6¾GDPHULND UHJLVWULHUW &DUPLJQDF )RQGV VLQG LQ 6LQJDSXU DOV HLQJHVFKU¦QNWH DXVO¦QGLVFKH )RQGV QXU I¾U SURIHVVLRQHOOH $QOHJHU UHJLVWULHUW 'LH )RQGV VLQG QLFKW JHP¦¡ GHP 86 :HUWSDSLHUJHVHW] YRQ UHJLVWULHUW *HP¦¡ GHU 'H΋QLWLRQ GHU 86 9HURUGQXQJ 6 XQG )$7&$ G¾UIHQ GLH )RQGV ZHGHU GLUHNW QRFK LQGLUHNW ]XJXQVWHQ RGHU LP1DPHQ HLQHU ȋ86 3HUVRQȊ DQJHERWHQ RGHU YHUNDXIW ZHUGHQ 'LH 9HUZDOWXQJVJHVHOOVFKDIW NDQQ GLH :HUEXQJ LQ ,KUHP /DQG MHGHU]HLW HLQVWHOOHQ 'LH 5LVLNHQ *HE¾KUHQ XQG ODXIHQGHQ .RVWHQ VLQG LQ GHQ ZHVHQWOLFKHQ $QOHJHULQIRUPDWLRQHQ EHVFKULHEHQ 'LH ZHVHQWOLFKHQ $QOHJHULQIRUPDWLRQHQ P¾VVHQ GHP =HLFKQHU YRU GHU =HLFKQXQJ DXVJHK¦QGLJW ZHUGHQ 'HU =HLFKQHU PXVV GLH ZHVHQWOLFKHQ $QOHJHULQIRUPDWLRQHQ OHVHQ $QOHJHU N¸QQHQ HLQHQ 7HLO RGHU LKU JHVDPWHV .DSLWDO YHUOLHUHQ GD GDV .DSLWDO GHU )RQGV QLFKW JDUDQWLHUW LVW 'LH )RQGV VLQG PLW HLQHP .DSLWDOYHUOXVWULVLNR YHUEXQGHQ 'LH 9HUZDOWXQJVJHVHOOVFKDIW NDQQ GHQ 9HUWULHE LQ ,KUHP /DQG MHGHU]HLW HLQVWHOOHQ 'LH )RQGV VLQG ,QYHVWPHQWIRQGV LQ )RUP HLQHU YHUWUDJOLFK JHUHJHOWHQ JHPHLQVDPHQ (LJHQW¾PHUVFKDIW )&3 GLH GHU 2*$: 5LFKWOLQLH QDFK IUDQ]¸VLVFKHP 5HFKW HQWVSUHFKHQ )¾U 'HXWVFKODQG 'HU 3URVSHNW GLH ZHVHQWOLFKHQ $QOHJHULQIRUPDWLRQHQ .,' XQG GLH -DKUHVEHULFKWH GHV )RQGV VLQG YHUI¾JEDU DXI GHU :HEVLWH KWWSV ZZZ FDUPLJQDF FRP GH GH XQG N¸QQHQ EHL GHU 9HUZDOWXQJVJHVHOOVFKDIW DQJHIRUGHUW ZHUGHQ $QOHJHU N¸QQHQ HLQH =XVDPPHQIDVVXQJ LKUHU 5HFKWH LQ GHXWVFKHU 6SUDFKH XQWHU IROJHQGHP /LQN DEUXIHQ KWWSV ZZZ FDUPLJQDF GH GHB'( YHUIDKUHQVWHFKQLVFKH LQIRUPDWLRQHQ &RS\ULJKW 'LH LQ GLHVHU 3U¦VHQWDWLRQ HQWKDOWHQHQ 'DWHQ VLQG DXVVFKOLH¡OLFKHV (LJHQWXP GHU MHZHLOLJHQ (LJHQW¾PHU ZLH DXI GHU MHZHLOLJHQ 6HLWH DQJHJHEHQ &$50,*1$& *(6 7,21 SODFH 9HQG¶PH ) 3DULV 7HO 9RQ GHU $0) ]XJHODVVHQH 3RUWIROLRYHUZDOWXQJVJHVHOOVFKDIW $NWLHQJHVHOOVFKDIW PLW HLQHP *UXQGNDSLWDO YRQ (XUR +DQGHOVUHJLVWHU 3DULV % &$50,*1$& *(67,21 /X[HPERXUJ &LW\ /LQN UXH GH OD &KDSHOOH / /X[HPERXUJ 7HO 7RFKWHUJHVHOOVFKDIW GHU &DUPLJQDF *HVWLRQ 9RQ GHU &66) ]XJHODVVHQH ,QYHVWPHQWIRQGVYHUZDOWXQJVJHVHOOVFKDIW $NWLHQJHVHOOVFKDIW PLW HLQHP *UXQGNDSLWDO YRQ (XUR +DQGHOVUHJLVWHU /X[HPERXUJ % JAHRE Empfohlene Mindestanlagedauer NIEDRIGERESRISIKO HÖHERESRISIKO SFDR- Klassifizierung** ARTIKEL Ein konzentriertes, aktiv verwaltetes $NWLHQSRUWIROLR GLYHUVL΋]LHUW LQ 8QWHUQHKPHQ PLW JUR¡HP 3RWHQ]LDO ȁ PLW GHP =LHO ODQJIULVWLJ HLQ VLJQL΋NDQWHV $OSKD LP JOREDOHQ 6FKZHOOHQO¦QGHUXQLYHUVXP ]X HU]LHOHQ 'HU )RNXV OLHJW DXI IXQGDPHQWDO DXVJHZ¦KOWHQ 4XDOLW¦WVXQWHUQHKPHQ PLW ODQJIULVWLJHU 3UR΋WDELOLW¦W VWDUNHQ *HVFK¦IWVPRGHOOHQ XQG ¾EHU]HXJHQGHQ VWUXNWXUHOOHQ :DFKVWXPVWUHLEHUQ 'HU )RQGV YHUIROJW GDV 1DFKKDOWLJNHLWV]LHO HLQHQ SRVLWLYHQ %HLWUDJ I¾U 8PZHOW XQG *HVHOOVFKDIW ]X OHLVWHQ XQG JOHLFK]HLWLJ VHLQHQ &2ћ )X¡DEGUXFN NRQVWDQW QLHGULJ ]X KDOWHQ BESUCHEN SIE DAS FONDSPROFIL

RkJQdWJsaXNoZXIy ODI5NTI=