French asset manager Carmignac has officially opened its Miami office as it looks to expand its largely Europe-focused business to the Americas.
The independent Paris-based group has over €60 billion ($70 billion) of assets under management and offers 17 different funds to its clients, including equities, bonds and balanced products.
Its Miami office is run by David Fernández Tavares who leads a five-person team tasked with building partnerships with major distributors to serve Latin American and international clients.
From the Miami location Fernández Tavares and his team are focusing on the US offshore, Chile, Uruguay and Panamá markets. Prior to moving to Miami last year to help launch the group’s first US office, Fernández Tavares worked at the company’s offices in Luxembourg and Spain.
His team includes David O’Suilleabhain, a business development executive who joined Carmignac in January 2016 from Wells Fargo Advisors where he was a product manager for offshore mutual funds.
At an event marking the opening of the Miami office last week Maxime Carmignac, the managing director of the firm’s UK branch, said: ‘Carmignac is above all an independent family owned-business.
'We look forward to offering non-US and Latin American investors the benefits resulting from this guiding principle: accountability for courageous decisions, and enough agility to seek to manage risks and be contrarian when needed.’
Above: Carmignac team in Paris headquarters
The group’s three largest funds include:
- Carmignac Patrimoine, a €28.5 billion ($33.7 billion) mixed asset fund run by Edouard Carmignac, the group’s founder;
- Carmignac Sécurité, a €16.6 billion ($19.7 billion) global bond fund run by Keith Ney;
- and Carmignac Investissement, a €5.6 billion ($6.6 billion) global equity fund also run by Edouard Carmignac.
Edouard Carmignac founded his eponymous asset manager in 1989 alongside his colleague Eric Helderlé. The group currently distributes its funds in 12 European countries as well as in Singapore and Taiwan.