The firm has added the new share class to its Carmignac Portfolio Patrimoine Fund, a retirement-focused vehicle.
The fund seeks to provide investors with monthly dividend payments of 5% per annum – a figure that may be adjusted depending on the fund’s performance.
Managed by Edouard Carmignac and Rose Ouahba – of the firm’s equity and bond teams, respectively – the Carmignac Portfolio Patrimoine Fund will invest in the global equity, bond and currency markets.
A statement from the firm outlined the rationale behind the decision to introduce the new share class.
“In Europe, pay-as-you-go pension systems cannot guarantee collection rates that would allow pensioners to maintain living standards. These systems are subject to constant reforms in an attempt to juggle three variables: longer working lives (leading to later retirement), lower coverage rates and increased contributions.”
