Carmignac eyes 'turnaround' in 2020 as outflows slow

Expecting rise in AUM

Carmignac Gestion is eyeing a "turnaround" year, as it sees benefits from strategic review implemented a year ago, founder and CIO Edouard Carmignac said.

Speaking to press at the firm's Paris base, Carmignac said he hoped the start of the 2020s would herald an upturn in fortunes for the firm, after two years of constant outflows totalling around €19bn (£16bn). Performance did improve in 2019, stemming outflows in Q4. "No turnaround would be possible without performance and last year most of our funds had more than commendable performance," said Carmignac. "[But] beyond performance, in terms of preparing the future, which is my main concern now, we have continued to make some key hirings. I truly believe now that we have one of the best...