Carmignac confident of recovery after hefty 2014 outflows

Carmignac Gestion's Didier Saint-Georges has said that the company is confident it can reverse the significant outflows it saw in 2014.

Carmignac saw €6.4bn (£4.8bn) of outflows in the first half of last year, equivalent to more than 10% of its total assets under management, a result the company blamed on 2013 performance. Saint-Georges, a member of the company's investment committee, said flows had stablised in the second half of the year, and that the company particularly suffered during 2013’s 'taper tantrum'. He said, “In first half of 2014 we saw €6.4bn in outflows, which is around 11% of are total AUM. Performance in our global funds in 2013 was not too good. We suffered from the taper tantrum as we stuck to ...