French asset manager Carmignac has launched a strategic investment committee, headed by CIO and founder Edouard Carmignac, to review and aim to turn around the poor performance the group has seen in recent years.
Speaking at Carmignac's annual media event in Paris, which also marks its 30-year anniversary, Didier Saint-Georges, head of portfolio advisors, said 2018 was a challenging but also pivotal year for the group. He said: "It was challenging because markets were tricky, our performances were not where we wanted them to be and we lost about €9bn in assets through redemptions. We ended the year with a total AUM of €42bn. "But it was also pivotal because Edouard announced he will be stepping down from our flagship Carmignac Patrimoine fund, to focus on the strategic committee which was set ...
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