France’s Carmignac Gestion opens its London office

Paris-based Carmignac Gestion has announced the opening of its London office, a move first flagged last year.

Already present in ten European countries, the London opening underscores Carmignac Gestion’s long-term commitment to the UK as a strategic market, the firm said.

It hopes that its establishment in the UK will enhance relationships with wealth managers, family offices, private banks, IFAs and institutional clients.

Founded in 1989 by Edouard Carmignac (pictured), Carmignac Gestion is one of Europe’s leading independent asset management companies. Its entire share capital is owned by management and staff, a structure the firm believes is of “utmost importance” to ensure the freedom required for successful portfolio management.

With close to €50bn in assets, Carmignac Gestion has developed a range of 18 funds across all asset classes – equities, bonds and multi-strategy, as well as segregated mandates. Its funds are marketed in France, Luxembourg, Switzerland, Belgium, Italy, Germany, Spain, Austria, The Netherlands, Sweden and United Kingdom.

The London office will be led by Matthew Wright, with a four-strong launch team to service clients through a “tailor-made regional approach”.  Additional UK staff will be recruited through the year.

Eric Helderlé, Managing Director, Carmignac Gestion, said the depth and sophistication of its fund management industry made the UK a key market.

“Strategically, it’s an opportune time to set up in London given the changing framework of retail distribution. The London office is a significant milestone in our strategy of paced European expansion aimed at promoting customer choice and open architecture. 

Carmignac, whose Patrimoine fund has enjoyed stellar success in Continental Europe, is set to offer  a range of 10 funds to UK investors with GBP shares classes, FSA registration and reporting status.

“These funds are designed to help savers diversify their portfolios and protect capital during periods of market volatility, yet remain exposed to long-term growth opportunities especially in the emerging world where domestic consumption is increasing,” the firm said.

Funds specialist Fund Buyer Focus, in its 2012 analysis based on the views of 900 fund distributors throughout Europe, highlighted Carmignac Gestion as one of Europe’s strongest fund brands. It  has subsidiaries in Luxembourg and Frankfurt and offices in Madrid, Milan and London, and registered its range of products for professional investors in Singapore.

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