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French firm Carmignac to launch 10 funds in UK

French firm Carmignac Gestion says it intends to launch 10 funds in the UK in the second half of this year.

The firm opened its London office last month, where its distribution team of four, led by head of country UK Matthew Wright, will plan the sales strategy for the UK.
Carmignac Gestion plans to launch 10 funds in the UK – five equity , three multi-asset and two fixed-income funds.

Managing director Eric Helderlé says: “The first target for us is to build the appetite and create the motivation for buying our funds. We are going to do some direct marketing with UK advisers and we are in discussions with platforms. We hope to get the funds on platforms in the second half of the year. The sooner the better for us.”

Helderlé says he does not expect to have fund managers based in London in the future as the firm wants all managers to continue to operate from Paris.

But he says: “I expect the distribution team to grow as sales of the Carmignac funds increase in the UK.”

Chelsea Financial Services managing director Darius McDermott says: “I know both Wright and UK sales director Mark Dunn from LV= and I expect them to do well in terms of UK distribution.”

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