Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a730587

Edouard Carmignac begins hunt for a successor

by Chris Sloley, Atholl Simpson on Jan 28, 2014 at 09:58

Edouard Carmignac begins hunt for a successor

Industry veteran Edouard Carmignac has said he will need to find a successor to take over his asset management firm in the next three-to-five years.

Speaking at the firm’s annual conference in Paris, the company founder and fund manager said he was beginning to think more about the long-term future of the group.

‘The future is less and less about me, I will need to find my successor in the next three to five years,’ he said in a keynote address.

Emphasising the need for change, Edouard Carmignac said it would be important for independent companies such as Carmignac to exist and also touched on how solid structures can create long-term growth.

‘When I created this group, I thought there was a place for a [company like] Fidelity and Franklin Templeton in Europe. I didn’t understand why the industry was in the hands of large banks.’

‘One thing that surprises me, is when you look back at the big US companies before 1929 and you look at how few have survived today in the same form.’

In his speech, Carmignac unveiled a redesigned company logo which has changed from ‘Carmignac Gestion’ to read just ‘Carmignac’ – a move designed to further build brand recognition.

Discussing the changes, Carmignac said: ‘There are three types of species in our industry; asset gatherers, fund managers and risk managers. We see ourselves more and more as risk managers.

‘Many of our competitors have either given up or gone into ETFs or more into hedge funds. I believe the future is in open ended funds that offer liquidity and transparency.’

Carmignac founded the company in 1989 and works as both chairman and lead fund manager across a number of the group’s largest funds.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the fund managers

  • Edouard Carmignac
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet