Paris-based asset manager Carmignac has announced a series of new appointments to bolster its Patrimoine fund, which has a substantial Luxembourg component.
Guillaume Rigeade, Eliezer Ben Zimra, Jacques Hirsch and Christophe Moulin are stepping in as co-managers of Carmignac Patrimoine, joining forces with David Older, the firm’s head of equities. This move follows the recent elevation of Rose Ouahba (photo) to the position of managing director within the firm’s senior management team.
The newly appointed co-managers will collaborate with David Older, Carmignac’s head of equities. The team of five will now manage a set of funds: the France-domiciled 6.7 billion Patrimoine fund, the 1.4 billion fund based in Luxembourg, and the €18 million UK fund.
‘Evolving economic cycle’
“With macroeconomics taking centre stage due to the evolving economic cycle, we’re enhancing Carmignac Patrimoine’s management, consolidating around three key performance drivers,” chairman Edouard Carmignac remarked on LinkedIn.
“I’m confident in the collective capability of our team, from Guillaume and Eliezer’s expertise in fixed income allocation to Jacques and Christophe’s prowess in macro analysis and risk assessment.”
Carmignac has about 57 billion euro under management.
Fixed income
Rigeade and Ben Zimra, both with over 15 years in bond fund management, will oversee the fixed income and foreign exchange aspects of the portfolio. Since 2019, they’ve jointly managed the Carmignac Portfolio Flexible Bond, which has exceeded its benchmark by over 13 percentage points in the past three years.
Meanwhile, multi-asset investment specialists Hirsch and Moulin will manage the fund’s macro overlay, combining bottom-up security selection with top-down analysis. Notably, Hirsch, a former co-manager at Ruffer, has been overseeing the Carmignac Portfolio Patrimoine Europe fund since July 2023. Moulin, previously from BNP Paribas AM, has been Carmignac’s cross-asset team deputy head since September 2022.
Distribution and marketing
Ouahba, in her new capacity as managing director, will be collaborating with a diverse team spanning from Luxembourg to Paris, focusing on refining the firm’s distribution and marketing strategies. She will partner with top brass, including Edouard Carmignac, Eric Helderlé in Luxembourg, Maxime Carmignac in London, and Christophe Peronin in Paris.
“Rose’s distinct expertise and client-centric approach make her an invaluable addition to our senior management,” Maxime Carmignac stated. “Her leadership in the fixed income space has been transformative, and I anticipate her continued impact in this new role.”
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