French asset manager Carmignac Gestion has created three so-called “clean” distributing shares denominated in sterling in its Luxembourg Sicav. This follows the launch of "retail distribution review-ready" sterling-denominated share classes within its French mutual fund structure back in June.

For units denominated in a currency other than the euro, currency risk vis-à-vis the euro is systematically hedged, the firm stated.

Carmignac is making a determined assault on the UK market, having opened a London office in April this year. The firm now has a total of ten funds available to UK investors, in various share classes.