CPR Invest - Megatrends - R EUR - Acc ISIN : LU1734694380

CPR Invest - Megatrends - R EUR - Acc
R(C) - LU1734694380
Asset class: Equities

YTD
As of 27/10/2026
16.79%

Risk IndicatorThe level of risk of the fund mainly reflects the risk of the market in which the fund is invested and, as the case may be, the leveraging strategy or inverse performance of the index. The capital initially invested does not benefit from any guarantee. The current level of risk does not indicate the future level of risk and may change over time. The lowest risk level is not equal to a risk-free investment.
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The risk indicator assumes you keep the product according to the holding period.

NAV
As of 27/10/2026
€199.80

SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8

Fund AUM
As of 27/10/2026
€286.81M
The investment objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in equity funds or equities that benefit from global thematic trends.

NAVs

NAV from 14/12/2017 to 27/10/2026
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Created with Highcharts 11.4.8CPR Invest - Megatrends - R EUR - AccJan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2675100125150175200225

Performance

Change in NAV in base 100
FundCPR Invest - Megatrends - R EUR - Acc (99.8% over the period)
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Created with Highcharts 11.4.8CPR Invest - Megatrends - R EUR - AccBenchmarkJan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2650100150200250300
FundCPR Invest - Megatrends - R EUR - Acc (99.8% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Megatrends - R EUR - AccBenchmarkJan '18Jul '18Jan '19Jul '19Jan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2650100150200250300

Portfolio Analysis

Repartition 09/30/2026
Created with Highcharts 11.4.8Values36.05​36.059.90​9.909.63​9.639.28​9.289.17​9.177.24​7.247.16​7.162.45​2.452.36​2.362.10​2.101.64​1.641.43​1.43Portfolio02468101214161820222426283032343638Information TechnologyFinancialsHealth CareCommunication ServicesIndustrialsUnknownConsumer DiscretionaryMaterialsConsumer StaplesEnergyUtilitiesReal EstateHighcharts.com

Management commentary

Effective date: 30/09/2026

The month of September 2026 was marked by the return of major central banks to monetary tightening: the ECB, the Fed, and the BoJ all raised their key interest rates by 25 bps, marking the first time this has happened in the same month. This move came in a context of high energy prices. Indeed, the conflict between Iran and the United States intensified again at the beginning of the month. Brent crude oil thus crossed the $100 mark again on September 9, for the first time since July.
 

The inflation indices published in September, covering the month of August, confirmed the divergence between the two sides of the Atlantic. In the eurozone, headline inflation accelerated sharply to 3.2%, while in the United States, headline inflation (CPI) remained stable at 3.4% year-on-year. Activity indicators once again demonstrated the resilience of developed economies in the face of high energy prices. In the United States, the August employment report was a significant upside surprise, and Q2 GDP growth was also strongly revised upwards, to 2.2% annualized from 1.5% previously. Similarly, the strength of the September PMI surveys (58.4 for the United States) made an impression and was interpreted as a sign that US growth was stronger than expected. In the eurozone, the composite PMI rose for the fourth consecutive month, reaching 53.1 in September, its highest level since April 2023. Meanwhile, China continues to stand out, as retail sales grew by only 0.4% year-on-year in August and investment continued to contract.
 

The ECB raised its key interest rates by 25 bps on September 10, increasing the deposit rate for the second time in three months, bringing it to 2.50%. The Fed unanimously raised the fed funds target range by 25 bps, to 3.75/4%, its first rate hike since 2023. Kevin Warsh presented this decision as the "removal of a dose of accommodation" rather than a tightening, while once again emphasizing that he did not intend to give any guidance on what comes next. As a result, bond yields rose sharply over the month, driven by the combined effect of higher oil prices and monetary tightening. The US 10-year yield rose by about 50 bps over the month, ending around 5.28%, its highest level since 2007, while the German 10-year yield rose by about 25 bps to 3.55%, after reaching its highest level since 2009. In Japan, the 10-year yield crossed the 3% mark for the first time since 1996, ending the month at 3.02%.
 

Equity markets paused in September, penalized by the rise in long-term rates. The S&P 500 ended the month roughly unchanged (about -0.8%). The Eurostoxx 600 fell by 2.5%, its first monthly decline in six months, the Nikkei rose by 0.7%, and finally, the MSCI Emerging edged down slightly (-0.8%), penalized notably by the Korean and Chinese markets. At the sector level, Energy (+2.8%) and Technology (+2.0%) were the only sectors to end the month in positive territory. Energy benefited from rising oil prices and ongoing disruptions at Hormuz and Bab el-Mandeb. Technology was supported by structural demand for semiconductors and AI infrastructure, with the exceptional performance of the M7 (+7.3%) standing out. Conversely, Automobiles (-8.1%) lagged behind, penalized by the deteriorating outlook for Volkswagen and Porsche, against a backdrop of ever-intensifying Chinese competition in Europe. The Financial sector (-7.3%), its worst monthly performance since March 2023, suffered from rising yields and, for online brokers, concerns related to the rise of AI agents. Real Estate (-7.2%) was hit by higher borrowing costs, while Commodities (-6.7%) were penalized by the correction in precious metals.
 

AI, particularly through Semiconductors, was the dominant theme of the month. Dario Amodei called for a slowdown in AI development in mid-September, citing concerns about humanity's safety. This triggered a brief but sharp sell-off in AI-related stocks around September 13 and 14. Rapid rebound: arguments from game theory, notably the idea that China's proximity to US frontier models makes a coordinated slowdown unlikely. On September 21, Meta launched Muse, its personal AI agent. The app immediately shot to first place, recording over 900k downloads in the first few days. META stock jumped 11% in the session. The AI sector saw a sharp rebound, partly on Inference: AMD +10%, Intel +12%, Arm +17%. At the same time, Cybersecurity delivered a remarkable performance in the background. When Dario Amodei called for a slowdown in AI development, AI infrastructure suffered a sharp drop, while cybersecurity moved in the opposite direction. The theme jumped 11% on September 14 alone. The theme was also supported by Palo Alto Networks, which guided for +23% revenue growth for 2027, explicitly citing AI as the main acceleration factor. Finally, after Hugging Face, Boston Scientific, Astrana Health, and Craneware, these cyberattacks validate the threat.

 

In August, CPR Megatrends rose by 1.49% compared to 1.05% for its benchmark index, the MSCI World (EUR). Among the best contributors, in addition to our overweight positions on the M7, were CPR AI (+7.8%), our Cybersecurity basket (+7.3%), and our Memory & HBM basket (+10.35%). Finally, with a more modest but still above MSCI World performance, our Data Center Construction basket was up 3.0%. Still within this theme, we added an Optical Networks basket at the end of the month. Among the detractors to performance were our positions in US banks with the Ishares US Banks ETF (-3.6%) and eurozone banks with Eurostoxx Bank futures (-1.9%). We moved from a neutral weighting in the financial sector to -2% at the end of the month.

Characteristics

General data

Inception date
14/12/2017
First Nav Date
14/12/2017
Currency
EUR
Show more
Valuation
Daily
Minimum initial investment
1 10/1000° share(s)/equity
Minimum additional investment
1 10/1000° share(s)/equity

Costs Composition

One-off costs upon entry or exit (Investment EUR 10,000)If you exit after 1 year
Entry costsThis includes distribution costs of 5.00% of amount invested. This is the most you will be charged. The person selling you the product will inform you of the actual charge.Up to €500.00
Exit costsWe do not charge an exit fee for this product, but the person selling you the product may do so.€0.00
Ongoing costs taken each year (Investment EUR 10,000)
Management fees and other administrative or operating costs1.16% of the value of your investment per year. This percentage is based on actual costs over the last year.€109.92
Transaction costs0.09% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell.€8.84
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

15.00% annual outperformance of the reference asset 100% MSCI WORLD NR Close. The calculation applies on each Net Asset Value calculation date in accordance with the terms described in the prospectus. Past underperformances over the last 5 years should be clawed back before any new accrual of performance fee.The actual amount will vary depending on how well your investment performs. The aggregated cost estimation above includes the average over the last 5 years.

The performance fee is paid even if the performance of the share over the performance observation period is negative, while remaining higher than the performance of the Reference Asset.

€8.27

Codification

ISIN code
LU1734694380
Bloomberg code
CPMEGRA LX
Reuters code
LP68460151

Investment Objective

The investment objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in equity funds or equities that benefit from global thematic trends.

Documents

LanguageDocumentsTypeClosing Date
DE
PDF
30/01/2026
EN
PDF
30/01/2026
FR
PDF
30/01/2026
PDF
31/07/2024
PDF
16/04/2026
PDF
31/01/2026
IT
PDF
30/01/2026
FR
PDF
26/10/2016
Prices expressed in a currency other than the base currency of the portfolio are available for information purposes only. Nothing contained in this site constitutes a solicitation or offer by any member of CPR Asset Management to provide any investment advice or service or to purchase or sell any financial instruments. The information it contains aims to inform the subscriber by providing information on the UCITS supplemental to that appearing in the Information Memorandum. The material provided on this site is presented as of the date shown and "as is". CPR Asset Management does not expressly or impliedly warrant the accuracy of the information provided on this site and expressly disclaims any warranties of fitness of this site for any particular purpose. This material reflects the opinion of the management company at the date of printing. The material is based upon information that we consider reliable, but we do not represent it is accurate, complete, valid or timely and it should not be relied on as such for any particular purpose. Any subscription should be based solely on the Information Memorandum provided to subscribers prior to the subscription and/or available upon request.The Key investor Informations document (KIID) and the prospectus of the fund, as well as the annual and semi-annual reports are available free of charge on the website www.cpram.com and from the Representative or Paying Agents : CACEIS (SWITZERLAND) SA - 35 Route de Signy, CH-1260 Nyon, Suisse or CACEIS Bank, Montrouge, Succursale de Nyon - Route de Signy 35 - CH- 1260 Nyon, Suisse.