2012 SEMI-ANNUAL REPORT OF THE FRENCH MUTUAL FUND (FCP) CARMIGNAC INVESTISSEMENT

Transcription

1 2012 SEMI-ANNUAL REPORT OF THE FRENCH MUTUAL FUND (FCP) CARMIGNAC INVESTISSEMENT (For the period ended 29 June 2012) 24, place Vendôme Paris - Tel.: Fax: Société anonyme. Portfolio management company (authorisation no. GP 9708 of 13/03/97), with share capital of EUR 15,000,000, RCS Paris B

2 CARMIGNAC INVESTISSEMENT 2012 SEMI-ANNUAL REPORT Main features of the Fund Dividend policy Income from A acc and I acc units (regardless of their currency) is fully reinvested. Dividends are recorded on an accruals basis. Income from D inc units (regardless of their currency) is distributed, either in full or in part, at the discretion of the Management Company. Countries in which the Fund is authorised for distribution A units: Austria, Belgium, France, Germany, Italy, Luxembourg, Netherlands, Spain, Sweden and Switzerland. E units: France, Italy, Netherlands and Spain. GBP units: France and the UK. 2

3 STATEMENT OF NET ASSETS OF CARMIGNAC INVESTISSEMENT Items on the statement of net assets a) Eligible financial instruments referred to in point I.1 of article L b) Cash at bank c) Other assets held by the fund c) Total assets held by the fund e) Liabilities f) Net asset value * Negative figures are preceded by a minus sign Amount at end of period * 7,471,769, ,630, ,510,174, ,128,574, ,417,978, ,710,595,

4 NUMBER OF UNITS OUTSTANDING AND NET ASSET VALUE PER UNIT OF CARMIGNAC INVESTISSEMENT Unit Type of unit Net assets per unit CARMIGNAC INVESTISSEMENT A EUR acc in EUR CARMIGNAC INVESTISSEMENT A CHF acc in CHF (1) CARMIGNAC INVESTISSEMENT I GBP acc in GBP CARMIGNAC INVESTISSEMENT A USD acc in USD (1) EUR inc in EUR (1) CARMIGNAC INVESTISSEMENT E EUR acc in EUR GBP inc in GBP (1) Number of units outstanding Net asset value A EUR acc 6,947,280, , , A CHF acc I GBP acc 446, , A USD acc D EUR inc E EUR acc 762,759, ,065, D GBP inc (1) These units were created on 19 June

5 SECURITIES PORTFOLIO INVESTMENTS OF CARMIGNAC INVESTISSEMENT Securities portfolio investments a) Eligible financial instruments and money market instruments listed on another recognised, regulated market that operates regularly and is open to the public and whose registered office is located in a member state of the European Union or another state party to the Agreement on the European Economic Area. b) Eligible financial instruments and money market instruments officially listed on a stock exchange of a third country or traded on another market of a third country that is regulated, recognised and open to the public and operates regularly, provided that this exchange or market is not included on a list compiled by the Autorité des marchés financiers (AMF) or that the choice of this exchange or market is in compliance with the law or the regulations or articles of association of the undertaking for collective investment in transferable securities. c) Newly issued financial instruments referred to in point I.4 of article R of the French monetary and financial code. d) Other assets Percentage Net assets Total assets

6 CHANGES IN THE SECURITIES PORTFOLIO DURING THE PERIOD FOR CARMIGNAC INVESTISSEMENT Securities portfolio investments a) Eligible financial instruments and money market instruments listed on another recognised, regulated market that operates regularly and is open to the public and whose registered office is located in a member state of the European Union or another state party to the Agreement on the European Economic Area. b) Eligible financial instruments and money market instruments officially listed on a stock exchange of a third country or traded on another market of a third country that is regulated, recognised and open to the public and operates regularly, provided that this exchange or market is not included on a list compiled by the Autorité des marchés financiers (AMF) or that the choice of this exchange or market is in compliance with the law or the regulations or articles of association of the undertaking for collective investment in transferable securities. c) Newly issued financial instruments referred to in point I.4 of article R of the French monetary and financial code. d) Other assets Change (in amount) Acquisitions Disposals 361,502, ,294, ,560,125, ,997,602, A detailed portfolio breakdown is available at: CARMIGNAC GESTION, 24, Place Vendôme, Paris 6

7 DISTRIBUTIONS DURING THE PERIOD FOR CARMIGNAC INVESTISSEMENT Dividends paid Dividends payable Unit EUR inc GBP inc EUR inc GBP inc Net amount per unit Tax credit (1) Gross amount per unit (2) (1) The tax credit per unit shall only be determined on the distribution date in accordance with the tax provisions in force. (2) The gross amount per unit shall only be determined on the distribution date in accordance with the tax provisions in force. 7

8 DETAILED SECURITIES PORTFOLIO OF CARMIGNAC INVESTISSEMENT AT 29 JUNE 2012 Name of securities Currency Quantity or nominal amount Current value % of net assets Equities and similar securities Equities and similar securities traded on a regulated or similar market AUSTRALIA WOODSIDE PETROLEUM ltd AUD 3,126,940 78,347, TOTAL AUSTRALIA 78,347, BERMUDA CL HDFC / CLSA FINL 0% 20/05/15 IND *USD USD 1,573,000 14,581, CLSA FINANCIAL PRODUCTS CERTIF 10/05/15 USD 1,925,810 24,583, CREDICORP USD 840,835 83,410, TOTAL BERMUDA 122,576, BRAZIL BRASIL.DIST.ADR USD 2,537,262 79,953, CIA DE BEBIDAS DAS AMERICAS PREF ADR USD 4,034, ,841, CYRELA BRAZIL REALTY BRL 14,541,729 84,020, HRT PETROLEO BRL 9,372,500 22,905, ROSSI RESIDENCIAL SA BRL 10,446,274 20,105, TOTAL BRAZIL 328,826, CANADA BARRICK GOLD CORP COM NPV USD 4,408, ,498, DETOUR GOLD CAD 2,290,067 36,304, ELDORADO GOLD CORP CAD 5,008,966 48,550, FIRST QUANTUM MINERALS CAD 4,946,250 68,817, FRANCO-NEVADA CORP CAD 2,273,200 80,895, GOLDCORP INC USD 7,656, ,725, HUDBAY MINERALS CAD 5,140,100 31,188, KINROSS GOLD CORPORATION USD 20,959, ,604, KINROSS GOLD WT ON SHS USD 945, , PACIFIC RUBIALES ENERGY CAD 4,858,355 80,963, POTASH CORP OF SASKATCHEWAN INC USD 4,670, ,775, URANIUM ONE CAD 21,934,119 43,910, TOTAL CANADA 1,043,555, CHINA BAIDU.COM SPONS.ADR CL.A USD 1,954, ,038, CHINA CONSTRUCTION BANK CORPORATION HKD 299,335, ,860, CHINA LIFE INSURANCE H HKD 65,133, ,070, INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITE HKD 228,392,449 99,535, TOTAL CHINA 569,504, COLOMBIA BANCOLOMBIA ADR USD 1,086,676 52,953, TOTAL COLOMBIA 52,953, DENMARK NOVO-NORDISK B DKK 1,991, ,349, TOTAL DENMARK 227,349, SPAIN INDUSTRIA DE DISENO TEXTIL INDITEX EUR 1,483, ,930, TOTAL SPAIN 120,930,

9 Name of securities Currency Quantity or nominal amount Current value % of net assets UNITED STATES OF AMERICA ANADARKO PETROLEUM CORP USD 6,255, ,292, APPLE INC / EX - APPLE SHS USD 519, ,836, CATERPILLAR INC USD 83,968 5,618, CELGENE CORP USD 2,033, ,783, CME Group-A Shs -A- USD 299,656 63,307, DOLLAR TREE INC. USD 2,861, ,327, ENSCO CL.A USD 2,150,000 79,575, HALLIBURTON CO USD 6,322, ,444, INTERCONTINENTALEXCHANGE INC USD 751,891 80,565, LAS VEGAS SANDS USD 5,064, ,551, MEAD JOHNSON NUTRITION CL.A USD 1,642, ,205, NEWMONT MINING USD 2,927, ,889, WC CYRELA 11/13 MS USD 313,950 1,821, YUM BRANDS USD 3,490, ,160, TOTAL UNITED STATES OF AMERICA 1,728,381, FRANCE ESSILOR INTERNATIONAL EUR 1,402, ,773, EUROPEAN AERONAUTIC DEFENSE AND SPACE COMPANY EUR 2,856,000 79,796, EADS HERMES INTERNATIONAL EUR 411,068 99,581, LVMH (LOUIS VUITTON - MOET HENNESSY) EUR 1,639, ,494, PERNOD RICARD EUR 1,045,000 88,051, SAFT GROUPE EUR 754,483 14,259, TOTAL FRANCE 580,956, HONG KONG AIA GROUP HKD 36,740,000 98,905, CHINA OVERSEAS LAND & INVESTMENT HKD 117,717, ,014, HANG LUNG PROPERTIES LTD HKD 38,302, ,943, SUN ART RETAIL HKD 65,111,000 56,156, TOTAL HONG KONG 472,020, CAYMAN ISLANDS WYNN MACAU LTD HKD 85,048, ,688, TOTAL CAYMAN ISLANDS 155,688, INDIA DLF LIMITED INR 14,213,000 39,826, GMR INFRASTRUCTURE LTD NV INR 59,876,942 21,210, HOUSING DEVELOPMENT FINANCE INR 11,657, ,465, ICICI BANK INR 9,754, ,833, ICICI BANK ADR USD 820,223 20,947, TOTAL INDIA 313,282, INDONESIA ASTRA INTERNATIONAL IDK 235,750, ,482, BANK CENTRAL ASIA IDK 73,247,107 44,859, TOTAL INDONESIA 180,341, ISRAEL CHECK POINT SOFTWARE TECHNOLOGIES LTD USD 2,912, ,815, TOTAL ISRAEL 113,815, JAPAN FANUC JPY 1,054, ,797,

10 Name of securities Currency Quantity or nominal amount Current value % of net assets TOTAL JAPAN 134,797, JERSEY RANGOLD RESOURCES ADR SPONS. USD 1,658, ,597, TOTAL JERSEY 117,597, NETHERLANDS CORE LABORATORIES USD 1,320, ,553, TOTAL NETHERLANDS 120,553, PORTUGAL JERONIMO MARTINS EUR 5,545,850 73,898, TOTAL PORTUGAL 73,898, REPUBLIC OF KOREA SAMSUNG ELECTRONIC KRW 152, ,069, TOTAL REPUBLIC OF KOREA 126,069, UNITED KINGDOM TULLOW OIL GBP 6,340, ,202, TOTAL UNITED KINGDOM 115,202, SWITZERLAND CIE FINANCIERE RICHEMONT CHF 5,114, ,793, NESTLE NOM. CHF 3,334, ,987, TOTAL SWITZERLAND 377,781, THAILAND BANK OF AYUDHYA NVDR THB 64,345,022 47,095, TOTAL THAILAND 47,095, MERRILL - CW15 ICICI BANK LTD USD 3,853,594 49,192, MLI W HOUSING DEVEL USD 7,306,920 67,735, SCHLUMBERGER LTD CURACAO USD 2,997, ,317, TOTAL 270,245, TOTAL Equities and similar securities traded on a regulated or similar market 7,471,769, TOTAL equities and similar securities 7,471,769, Securities received under a repurchase agreement (pension) FRANCE OAT 2,10% INDX EUR 41,500,000 50,215, TOTAL FRANCE 50,215, TOTAL Securities received under a repurchase agreement (pension) 50,215, Guarantees with respect to securities received under a repurchase agreement (pension) 5, Forward financial instruments Futures Futures on regulated or similar markets CME S&P500 MINI 0912 USD -18,200-30,829, EUREX EUROSTX 0912 EUR -40,749-39,775, TOTAL futures on regulated markets -70,604, Futures on OTC markets ML KOSPI KRW -1,155-1,738, ML TAIEX TWD , TAIEX JUIL/ TWD , TAIEX JUIL/ TWD -1, , TAIEX JUIL/ TWD -1,700-1,489,

11 Name of securities Currency Quantity or nominal amount Current value % of net assets UBS KOSPI 0912 KRW -3,470 1,550, UBS KOSPI 0912 KRW -1,815-2,534, TOTAL futures on OTC markets -6,360, TOTAL futures -76,965, TOTAL Forward financial instruments -76,965, Margin calls C.A.Indo margin calls in USD USD 39,124, ,829, C.A.Indo margin calls in euro EUR 39,775,520 39,775, TOTAL Margin calls 70,604, Receivables 4,387,798, Payables -4,281,884, Financial accounts 89,052, Net assets 7,710,595, CARMIGNAC INVESTISSEMENT I GBP acc GBP 5, CARMIGNAC INVESTISSEMENT A CHF acc CHF EUR inc EUR CARMIGNAC INVESTISSEMENT A USD acc USD CARMIGNAC INVESTISSEMENT A EUR acc EUR 839, , CARMIGNAC INVESTISSEMENT E EUR acc EUR 6,065, GBP inc GBP