CPR Invest - Reactive - A EUR - Dist ISIN : LU1203020943

CPR Invest - Reactive - A EUR - Dist
A(D) - LU1203020943
Asset class: Balanced
YTD
As of 27/10/2026
2.04%
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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Higher Risk
The risk indicator assumes you keep the product according to the holding period.
NAV
As of 27/10/2026
€1,014.02
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 27/10/2026
€60.58M
This international diversified sub-fund aims to outperform its benchmark index over a minimum of 4 years with maximum projected volatility of 15%. The portfolio's equity exposure ranges from 20% to 80% and its interest-rate sensitivity from -2 to +5. The sub-fund is a feeder fund for the French mutual fund CPR Croissance Réactive.

NAVs

NAV from 31/10/2016 to 27/10/2026
Select period
Created with Highcharts 11.4.8CPR Invest - Reactive - A EUR - DistJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '267508008509009501K1.1K1.1K

Performance

Change in NAV in base 100
FundCPR Invest - Reactive - A EUR - Dist (28.46% over the period)
Select period
Created with Highcharts 11.4.8BCPR Invest - Reactive - A EUR - DistBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '2680100120140160
B. Since the beginning of this period, the reference indicator of the Sub-Fund is the capitalized €STR.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Reactive - A EUR - Dist (28.46% over the period)
Select period
Created with Highcharts 11.4.8BCPR Invest - Reactive - A EUR - DistBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '2680100120140160
B. Since the beginning of this period, the reference indicator of the Sub-Fund is the capitalized €STR.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.

Portfolio Analysis

Repartition 09/30/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencyPortfolio Breakdown by Maturity (Source: Amundi)
Sector
Weight
AM EURO LIQUIDITY S-T RESP - Z (C)Money Market Investments9.57%
AMUNDI EURO LIQUIDITY SELECT - Z (C)Money Market Investments8.51%
AM EURO LIQUIDITY-RATED RESP - Z (C)Money Market Investments7.04%
CPR INVEST - CLIMATE BONDS EURO - Z EURInvestment Grade EMU6.41%
AM MSCI WRLD SCREENED UCITS ETF (PAR)Equities World5.28%
abrdn Em Mkt Lcl Ccy Dbt K Acc EURGovies Emerging Global5.27%
CPR ABSOLUTE RETURN BONDS - Z (C)Absolute Return Fixed Income5.05%
ARI - EUROPEAN CREDIT- I2 - CInvestment Grade EMU4.85%
CPR INVEST - CREDIXX GLOB HI YIELDHigh Yield World4.65%
CPR ACTIONS USA RESPONSABLE IEquities USA3.67%

Management commentary

Effective date: 30/09/2026Economic growth remains strong
Activity indicators have 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, with 162,000 non-farm jobs created compared to the expected 53,000, along with upward revisions for previous months, while the unemployment rate remained stable at 4.1%. GDP growth in Q2 was also strongly revised upwards, to 2.2% quarter-on-quarter annualized, compared to 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, with France returning to expansion territory for the first time in ten months.
 
But which raises concerns of persistent inflation among central banks
The ECB raised its key rates by 25 bps on September 10, marking the second increase in three months, with the deposit rate brought to 2.50%. The Governing Council justified its decision by stating that inflation is expected to remain sustainably above the 2% target. On September 16, 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 provide guidance on future actions. The "dots," i.e., the FOMC members' projections for key rates, indicate another rate hike by the end of the year. Finally, the BoJ raised its main policy rate by 25 bps, to 1.25%, its highest level since 1995.
 
Equities and bonds
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 gained about 50 bps over the month, ending around 5.28%, its highest level since 2007, while the 30-year yield exceeded 5.60%, a high since 2002. 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%. Finally, gold was penalized by the rise in real rates and lost about 6% over the month, erasing much of its August gains.
 
Our allocation
We took advantage of the pressure on interest rates to increase our rate sensitivity. We believe that current levels incorporate a larger safety cushion compared to an adverse scenario. Furthermore, we remain positive on High Yield Credit, given the strength of growth, especially in the US. On the equity side, we maintain our overweight position in the emerging segment, due to its valuation, the ongoing convergence of certain economies, and its diversification benefits. Finally, we remain cautious on European equities, which are much more sensitive to energy issues.
 
Our central scenario
We believe that a stabilization of interest rates, even at high levels, can be beneficial for risky assets, especially the equity market.
The global growth dynamic remains very positive, but it is mainly driven by technological investments. In the United States, the labor market remains solid.

Characteristics

General data

Inception date
27/03/2015
First Nav Date
18/04/1997
Currency
EUR
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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 costs2.30% of the value of your investment per year. This percentage is based on actual costs over the last year.€218.88
Transaction costsWe do not charge a transaction fee for this product€0.00
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

20.00% annual outperformance of the reference asset 100% ESTR CAPITALISE (OIS). 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.

€0.00

Codification

ISIN code
LU1203020943
Bloomberg code
CPRRCAD LX
Reuters code
LP68307133

Investment Objective

This international diversified sub-fund aims to outperform its benchmark index over a minimum of 4 years with maximum projected volatility of 15%. The portfolio's equity exposure ranges from 20% to 80% and its interest-rate sensitivity from -2 to +5. The sub-fund is a feeder fund for the French mutual fund CPR Croissance Réactive.

Documents

LanguageDocumentsTypeClosing Date
DE
PDF
17/06/2026
EN
PDF
17/06/2026
FR
PDF
17/06/2026
PDF
31/07/2024
PDF
16/04/2026
PDF
31/01/2026
IT
PDF
17/06/2026
EN
PDF
30/09/2026
FR
PDF
30/09/2026
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 Informations document (KID) 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 : UniCredit Bank Czech Republic and Slovakia, a.s., Bratislava, Šancová 1/A, Postal Code 813 33, Slovak Republic
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