@import url(https://fast.fonts.net/t/1.css?apiType=css&projectid=1fd00e63-ae7d-40ea-b8e5-0d634f6a8d84);.blocker{position:fixed;top:0;right:0;bottom:0;left:0;width:100%;height:100%;overflow:auto;z-index:1;padding:20px;box-sizing:border-box;background-color:#000;background-color:rgba(0,0,0,.75);text-align:center}.blocker:before{content:"";display:inline-block;height:100%;vertical-align:middle;margin-right:-.05em}.blocker.behind{background-color:transparent}.customModal{display:none;vertical-align:middle;position:relative;z-index:2;max-width:600px;box-sizing:border-box;width:90%;background:#fff;padding:15px 30px;-webkit-border-radius:8px;-moz-border-radius:8px;-o-border-radius:8px;-ms-border-radius:8px;border-radius:8px;-webkit-box-shadow:0 0 10px #000;-moz-box-shadow:0 0 10px #000;-o-box-shadow:0 0 10px #000;-ms-box-shadow:0 0 10px #000;box-shadow:0 0 10px #000;text-align:left}.customModal a.close-modal{position:absolute;top:-12.5px;right:-12.5px;display:block;width:30px;height:30px;text-indent:-9999px;background-size:contain;background-repeat:no-repeat;background-position:50%;background-image:url("data:image/png;base64,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")}.customModal-spinner{display:none;position:fixed;top:50%;left:50%;transform:translateY(-50%) translateX(-50%);padding:12px 16px;border-radius:5px;background-color:#111;height:20px}.customModal-spinner>div{border-radius:100px;background-color:#fff;height:20px;width:2px;margin:0 1px;display:inline-block;-webkit-animation:sk-stretchdelay 1.2s ease-in-out infinite;animation:sk-stretchdelay 1.2s ease-in-out infinite}.customModal-spinner .rect2{-webkit-animation-delay:-1.1s;animation-delay:-1.1s}.customModal-spinner .rect3{-webkit-animation-delay:-1s;animation-delay:-1s}.customModal-spinner .rect4{-webkit-animation-delay:-.9s;animation-delay:-.9s}@-webkit-keyframes sk-stretchdelay{0%,40%,to{-webkit-transform:scaleY(.5)}20%{-webkit-transform:scaleY(1)}}@keyframes sk-stretchdelay{0%,40%,to{transform:scaleY(.5);-webkit-transform:scaleY(.5)}20%{transform:scaleY(1);-webkit-transform:scaleY(1)}}@font-face{font-family:libre-bakerville;src:url(/assetic/assets/fonts/libre-bakerville/libre-bakerville.eot);src:url(/assetic/assets/fonts/libre-bakerville/libre-bakerville?#iefix) format("eot"),url(/assetic/assets/fonts/libre-bakerville/libre-bakerville.woff) format("woff"),url(/assetic/assets/fonts/libre-bakerville/libre-bakerville.ttf) format("truetype"),url(/assetic/assets/fonts/libre-bakerville/libre-bakerville.svg#libre-bakerville) format("svg");font-style:normal;font-weight:400}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-regular.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-regular.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-regular.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-regular.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-regular.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-regular.svg#univers-regular) format("svg");font-style:normal;font-weight:400}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-regular-italic.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-regular-italic.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-regular-italic.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-regular-italic.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-regular-italic.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-regular-italic.svg#univers-regular-italic) format("svg");font-style:italic;font-weight:400}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-light.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-light.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-light.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-light.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-light.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-light.svg#univers-light) format("svg");font-style:normal;font-weight:100}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-light-italic.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-light-italic.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-light-italic.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-light-italic.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-light-italic.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-light-italic.svg#univers-light-italic) format("svg");font-style:italic;font-weight:100}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-bold.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-bold.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-bold.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-bold.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-bold.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-bold.svg#univers-bold) format("svg");font-style:normal;font-weight:700}@font-face{font-family:univers;src:url(/assetic/assets/fonts/univers/univers-bold-italic.eot?#iefix);src:url(/assetic/assets/fonts/univers/univers-bold-italic.eot?#iefix) format("eot"),url(/assetic/assets/fonts/univers/univers-bold-italic.woff2) format("woff2"),url(/assetic/assets/fonts/univers/univers-bold-italic.woff) format("woff"),url(/assetic/assets/fonts/univers/univers-bold-italic.ttf) format("truetype"),url(/assetic/assets/fonts/univers/univers-bold-italic.svg#univers-bold-italic) format("svg");font-style:italic;font-weight:700}@font-face{font-family:carmignac-icon;src:url(/assetic/assets/fonts/carmignac-icon/carmignac-icon.eot);src:url(/assetic/assets/fonts/carmignac-icon/carmignac-icon?#iefix) format("eot"),url(/assetic/assets/fonts/carmignac-icon/carmignac-icon.woff) format("woff"),url(/assetic/assets/fonts/carmignac-icon/carmignac-icon.ttf) format("truetype"),url(/assetic/assets/fonts/carmignac-icon/carmignac-icon.svg#carmignac-icon) format("svg");font-style:normal;font-weight:400}@font-face{font-family:UniversLTStd-Cn;font-style:normal;font-weight:400;src:url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.eot?#iefix);src:url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.eot?#iefix) format("eot"),url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.woff) format("woff"),url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.woff2) format("woff2"),url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.ttf) format("truetype"),url(/assetic/assets/fonts/UniversLTStd-Cn/UniversLTStd-Cn.svg#UniversLTStd-Cn) format("svg")}*,:after,:before{box-sizing:border-box}:focus{outline:none}h1,h2,h3,h4,h5,h6{margin:0;font-weight:400}p{margin:0}blockquote{-webkit-margin-before:0;-webkit-margin-after:0;-webkit-margin-start:0;-webkit-margin-end:0}dl,ol,ul{margin:0;padding:0}li{list-style:none}a{text-decoration:none}figure{-webkit-margin-before:0;-webkit-margin-after:0;-webkit-margin-start:0;-webkit-margin-end:0}sup{font-size:12px;vertical-align:super}input[type=password],input[type=search],input[type=text]{background:none;-webkit-appearance:textfield;-webkit-box-sizing:content-box;-webkit-box-shadow:0 0 0 1000px #fff inset}input[type=search]::-webkit-search-cancel-button,input[type=search]::-webkit-search-decoration,input[type=search]::-webkit-search-results-button,input[type=search]::-webkit-search-results-decoration{display:none}.hidden-wording{position:absolute;height:1px;width:1px;overflow:hidden;clip:rect(1px 1px 1px 1px);clip:rect(1px,1px,1px,1px)}html{font-size:62.5%}body{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-direction:normal;-webkit-box-orient:vertical;flex-direction:column;position:relative;max-width:1400px;min-height:100vh;margin:0 auto;padding-top:116px;overflow-x:hidden;font-size:1.2rem;line-height:1;-moz-osx-font-smoothing:grayscale;-webkit-font-smoothing:antialiased}@media (min-width:768px) and (max-width:1279px){body{transition:padding .3s;padding-top:60px}}@media (max-width:767px){body{transition:padding .3s;padding-top:60px}}body.is-modal-open{overflow:hidden}.main-content{-webkit-box-flex:1;-moz-box-flex:1;flex:1;flex-basis:auto;position:relative;min-height:calc(100vh - 416px)}.contact-permalink{position:fixed;z-index:5;right:30px;bottom:0;box-sizing:border-box;width:50px;height:50px;padding:15px 0;transform:translateY(-90%);transition:background-color .3s ease;border:1px solid #4e8368;border-radius:50%;background-color:#4e8368;box-shadow:2px 2px 5px rgba(39,37,37,.5);color:#fff;font-size:1.4rem;font-weight:100;cursor:pointer;will-change:background-color}@media (min-width:768px) and (max-width:1279px){.contact-permalink{display:none}}@media (max-width:767px){.contact-permalink{display:none}}.contact-permalink:before{content:"\EA18";position:absolute;top:50%;left:14px;margin-top:-1rem;font-family:carmignac-icon;font-size:2rem}.contact-permalink:focus,.contact-permalink:hover{transition:background-color .3s ease;will-change:background-color;background-color:#fff;color:#4e8368}.contact-permalink--desktop,.contact-permalink--desktop.hidden,.contact-permalink--mobile,.contact-permalink--mobile.hidden,.go-top{display:none}.go-top{position:fixed;z-index:999;bottom:50px;right:100px;transition:all .5s}@media (min-width:768px) and (max-width:1279px){.go-top{right:7%;bottom:80px}}@media (max-width:767px){.go-top{right:10px;bottom:80px}}.go-top:before{content:"\EA1F";color:#4e8368;font-family:carmignac-icon;font-size:3rem;background:#fff;border-radius:50%}.go-top.is-displayed{display:inline-block}.go-top.is-hidden{display:none}.clearfix{clear:both}.image__wrapper{display:inline-block;width:100%;margin:0}body,body button,body input{font-family:univers,Arial,sans-serif}body[lang=zh_TW],body[lang=zh_TW] button,body[lang=zh_TW] input{font-family:HeiT ASC Light W40 Regular,Arial,sans-serif}.g-recaptcha{margin-bottom:1em}.flash-messages{min-width:50em;max-width:80em;margin-left:auto;margin-right:auto;width:100%}@media (max-width:767px){.flash-messages.flash-messages__authentication{min-width:auto;max-width:auto;padding:0 30px}}.flash-messages .flash-message{margin:0 1rem 1rem;font-weight:500;padding:15px;border-width:1px;border-style:solid;border-radius:4px}.flash-messages .flash-message:first-of-type{margin-top:2em}.flash-messages .flash-notice{color:#2f7fa0;border-color:#35c2e7;background-color:#8cddf5}.flash-messages .flash-success{color:#4a844c;border-color:#a6d677;background-color:#bfe29b}.flash-messages .flash-warning{color:#aa6b40;border-color:#ffcc5f;background-color:#f9d992}.flash-messages .flash-error{color:#b94648;border-color:#f55d6f;background-color:#f8949f}article,footer,header,main,nav,section{display:block}.article-carrousel__articles__arrow,.article-carrousel__tabs,.article-header__nav,.article-header__type--carmignac,.article-header__type__wrapper,.article-header__under-wrapper,.article-illustrated__background__wrapper,.article-illustrated__block-image__cta,.article-illustrated__block-text__cta,.article__download,.article__performances,.article__stay-connected,.breadcrumb,.consent,.contact-permalink,.fund-fragments,.go-top,.main-footer,.main-header__inner,.main-header__mob-btn,.main-header__wrapper:before,.modal,.panel__footer,.print-footer,.print-header,.recommendation,.report__tabs,.sf-toolbarreset,.share-links{display:none!important}body{padding-top:0;-webkit-print-color-adjust:exact}.main-header__wrapper{position:static}.main-header{position:static;width:100%;max-width:none;padding:0;transform:none}.main-header,.main-header__logo__wrapper{display:block;height:auto}.main-header__logo{display:block;position:relative;width:200px;height:50px!important;margin:20px auto}.main-header__logo__visual{display:inline-block}.article-block-layout .article-block-layout__inner{padding:40px 0;background-color:transparent!important}.article-block-layout .article-block-layout__banner{display:none}.article-block-layout .rte__blockquote .rte__paragraph{line-height:1.33}.article-block-layout:after{content:"";display:block;clear:both}.article-block-layout--image-background{margin-bottom:0}.article-carrousel__title{padding:0;text-align:left}.article-carrousel__article{display:block!important;margin:40px 0;padding:0;background-color:transparent!important}.article-carrousel__article__title{display:block!important;font-size:1.8rem;line-height:1.2}.article-strategy .article-strategy__text,.article-strategy .rte__paragraph{color:#fff}.article-header{margin-top:30px}.article-header__type__wrapper{display:block}.pro-background__wrapper{position:absolute;z-index:-1;top:0;right:0;bottom:0;left:0;overflow:hidden}.pro-background{display:block!important;position:absolute}.fragment-image__media{min-width:600px}@media print{body{display:block}}.article-strategy .rte__paragraph .rte__bold,.article-strategy .rte__paragraph .rte__italic,.article-strategy .rte__paragraph .rte__link{color:#000}.article-illustrated__content{display:table;width:100%}.article-illustrated__content--reverse{display:block;overflow:hidden}.article-illustrated__content--reverse .article-illustrated__block-text{display:block;float:left}.article-illustrated__content--reverse .article-illustrated__block-image{display:block;float:right}.article-illustrated__block-text{display:table-cell;width:50%!important;vertical-align:top}.article-illustrated__block-text.is-first{border-right:40px solid #fff}.article-illustrated__block-image{display:table-cell;width:50%!important;vertical-align:top}.article-illustrated__block-image.is-first{border-right:40px solid #fff}.block-medallion{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-direction:normal;-webkit-box-orient:vertical;flex-direction:column;margin-right:25px;margin-left:12%}.block-medallion__illustration__image__wrapper{z-index:9;left:50%;transform:translate(-50%)}.block-medallion__body,.block-medallion__illustration{display:table-cell;vertical-align:top}.block-medallion__body{width:100%}.article-block-layout--letter{border:0;box-shadow:none}.panel{width:48%;margin:20px 1%;float:left!important;border:0}.panel--third:last-of-type{width:100%!important;float:none!important}.panels{padding-bottom:0!important}.panels__list{margin-bottom:0!important}.block-medallion__body__content__signature:before{height:.65px;color-adjust:exact}.block-medallion__body__content{display:block;width:100%}section{page-break-before:always}