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Has the secular growth rally only just begun?

Video: The world economy came to a screeching halt, but secular growth stocks are hitting new highs. Will their bull run continue?

Carmignac Patrimoine is a common fund in contractual form (FCP) conforming to the UCITS Directive under French law. Risk scale: 4 (for the share class A EUR Acc). Risk Scale from the KIID (Key Investor Information Document) from 1 (lowest risk) to 7 (highest risk). Risk 1 does not mean a risk-free investment. This indicator may change over time. Recommended minimum investment horizon: 3 years. Main risks of Carmignac Patrimoine – EQUITY: The Fund may be affected by stock price variations, the scale of which is dependent on external factors, stock trading volumes or market capitalization. INTEREST RATE: Interest rate risk results in a decline in the net asset value in the event of changes in interest rates. CREDIT: Credit risk is the risk that the issuer may default. CURRENCY: Currency risk is linked to exposure to a currency other than the Fund’s valuation currency, either through direct investment or the use of forward financial instruments. The Funds may have specific investment limits, as mentioned in their respective prospectuses.The Fund presents a risk of loss of capital.

PROMOTIONAL MATERIAL. For professional investors only. This document may not be reproduced, in whole or in part, without prior authorisation from the management company. This document does not constitute a subscription offer, nor does it constitute investment advice. Access to the Fund may be subject to restrictions with regard to certain persons or countries. The Fund is not registered in North America, in South America, in Asia nor is it registered in Japan. The Funds are registered in Singapore as restricted foreign scheme (for professional clients only). The Fund has not been registered under the US Securities Act of 1933. The Fund may not be offered or sold, directly or indirectly, for the benefit or on behalf of a “U.S. person”, according to the definition of the US Regulation S and/or FATCA. The Fund presents a risk of loss of capital. The risks and fees are described in the KIID (Key Investor Information Document). The Fund’s prospectus, KIIDs and annual reports are available at www.carmignac.com, or upon request to the Management Company. The KIID must be made available to the subscriber prior to subscription. ● In Switzerland, the Fund’s respective prospectuses, KIIDs and annual reports are available at www.carmignac.ch, or through our representative in Switzerland, CACEIS (Switzerland) S.A., Route de Signy 35, CH-1260 Nyon. The paying agent is CACEIS Bank, Paris, succursale de Nyon/Suisse, Route de Signy 35, 1260 Nyon. ● In the United Kingdom, the Funds’ respective prospectuses, KIIDs and annual reports are available at www.carmignac.co.uk, or upon request to the Management Company, or for the French Funds, at the offices of the Facilities Agent at BNP PARIBAS SECURITIES SERVICES, operating through its branch in London: 55 Moorgate, London EC2R. This material was prepared by Carmignac Gestion and/or Carmignac Gestion Luxembourg and is being distributed in the UK by Carmignac Gestion Luxembourg UK Branch (Registered in England and Wales with number FC031103, CSSF agreement of 10/06/2013). Carmignac Gestion – 24 place Vendôme – F-75001 Paris. Tel: (+33) 01 42 86 53 35 – Investment management company approved by the AMF – Public limited company with share capital of € 15,000,000 – RCS Paris B 349 501 676. Carmignac Gestion Luxembourg – City Link – 7, rue de la Chapelle – L-1325 Luxembourg – Tel: (+352) 46 70 60 1 – Subsidiary of Carmignac Gestion – Investment fund management company approved by the CSSF – Public limited company with share capital of €23,000,000 – RC Luxembourg B 67 549.

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