CPR Invest - Future Cities - R EUR - Acc ISIN : LU1989764235

CPR Invest - Future Cities - R EUR - Acc
R(C) - LU1989764235
Asset class: Equities
YTD
As of 26/08/2026
11.55%
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 26/08/2026
€178.77
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 26/08/2026
$40.90M
The Compartment's objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in international equities which contribute to urbanisation and sustainable development of cities, while integrating Environmental, Social and Governance (E, S, and G - or, when taken together, ESG) criteria in the investment process.

NAVs

NAV from 09/17/2019 to 08/26/2026
Select period
Created with Highcharts 11.4.8CPR Invest - Future Cities - R EUR - AccJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '265075100125150175200

Performance

Change in NAV in base 100
FundCPR Invest - Future Cities - R EUR - Acc (78.77% over the period)
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Created with Highcharts 11.4.8CPR Invest - Future Cities - R EUR - AccBenchmarkJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2650100150200250
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Future Cities - R EUR - Acc (78.77% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Future Cities - R EUR - AccBenchmarkJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2650100150200250

Portfolio Analysis

Repartition 07/31/2026
Sector allocationMain Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)Currency
Created with Highcharts 11.4.8Values37.49​37.4921.38​21.3811.95​11.958.00​8.006.75​6.756.55​6.554.27​4.272.98​2.98Portfolio0246810121416182022242628303234363840Information TechnologyIndustrialsConsumer DiscretionaryMaterialsCommunication ServicesUtilitiesFinancialsReal EstateHighcharts.com

Management commentary

Effective date: 31/07/2026In July, global equity markets evolved in a more volatile environment, marked by escalating tensions between the United States and Iran, with second-round effects on energy prices, inflation expectations, and market sentiment. The Fed’s new communication policy, namely its willingness to no longer provide forward guidance, also slightly fueled volatility. At the same time, the AI theme underwent a significant adjustment, as valuation levels and positioning reached extreme levels. Even minor negative news, with low impact, triggered profit-taking. The market was particularly concerned to see Alphabet’s free cash flow generation turn negative; this news was interpreted as an early sign of a peak in its AI infrastructure investments. The emergence of a Chinese equipment manufacturer capable of producing DUV semiconductor manufacturing machines also fueled concerns about upcoming semiconductor overproduction. These factors drove a rotation from momentum and AI-related stocks to value and defensive sectors for most of the month, until the release of Microsoft and Amazon’s results on Thursday, August 30. These reports, which showed not only good profitability from AI infrastructure spending but also continued strong demand, marked a real turning point for the technology sector: initially, the beneficiaries of this spending, particularly semiconductors, rebounded sharply; subsequently, cloud providers began to outperform and catch up on their year-to-date lag. Furthermore, half-year earnings releases proved extremely strong (with upward revisions to expected results) and resilient in the face of disruptions related to the Middle East conflict and inflationary pressures. Nevertheless, over the month, the AI theme underperformed through semiconductors and electrification companies, while energy (rising oil prices amid renewed US-Iran tensions) and financials (favorable market and economic environment, rising long-term rates) outperformed.
 
Over the period, the fund declined by 1.3%, underperforming its benchmark by 0.8%. The fund’s relative performance was penalized both by its absence from the energy sector (costing 40 basis points) and from financials (costing 80 basis points). We were also penalized by stock selection in the industrial sector: profit-taking on Caterpillar and Prysmian failed to offset the strong performances of Hitachi, Schneider, and Saint Gobain, for which expectations were low and which reported good results. We held up well during the semiconductor sell-off thanks to our underexposure to the memory and semiconductor equipment segments, as well as the strong resilience of Broadcom and Nvidia, which are our main positions in the sector. Ultimately, we offset our overweight in the sector with good stock selection, so the effect was neutral for the fund compared to the MSCI AC World index. In the rest of the technology sector, we benefited from Microsoft’s rebound following results showing an acceleration in Azure and their AI Copilot offering. We also benefited from Autodesk’s very strong results, which outperformed thanks to the anticipation of solid results, supported by resilient demand in infrastructure and construction. Finally, in consumer discretionary, Amazon contributed 26 basis points following results showing an acceleration in AWS and AI growth, while BYD (+29%) reassured on its international growth prospects.  
 
More constructive discussions between Iran and the United States, macroeconomic indicators that remain solid, earnings releases above expectations accompanied by more favorable outlooks, and the reassuring statements from Microsoft and Amazon on the profitability of their AI investments, all argue in favor of a market rebound driven by cyclical sectors. We are therefore maintaining the portfolio’s cyclical bias.

Characteristics

General data

Inception date
17/09/2019
First Nav Date
17/09/2019
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 costs1.30% of the value of your investment per year. This percentage is based on actual costs over the last year.€123.50
Transaction costs0.14% 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.€13.28
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

15.00% annual outperformance of the reference asset 15% of the difference between the net assets of the Share Class and the Reference Asset. Performance indicator :MSCI All Country World Index (MSCI ACWI) Net Return Index. ESMA methodology since 01/01/2022. 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.

€0.10

Codification

ISIN code
LU1989764235
Bloomberg code
Reuters code

Investment Objective

The Compartment's objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in international equities which contribute to urbanisation and sustainable development of cities, while integrating Environmental, Social and Governance (E, S, and G - or, when taken together, ESG) criteria in the investment process.

Documents

LanguageDocumentsTypeClosing Date
DE
PDF
18/12/2025
EN
PDF
18/12/2025
FR
PDF
18/12/2025
PDF
31/07/2024
PDF
16/04/2026
PDF
31/01/2026
IT
PDF
18/12/2025
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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