CPR Invest - Global Resources - A USD - Dist ISIN : LU1989770398

CPR Invest - Global Resources - A USD - Dist
A USD(D) - LU1989770398
Asset class: Equities
YTD
As of 07/10/2026
17.22%
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 07/10/2026
$194.57
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 07/10/2026
$1.12B
The Compartment's objective is to outperform (after applicable fees) over a long-term period (minimum 5 years), the S&P Global Natural Resources Index by investing in international equities mainly involved in the energy, gold and materials activities.

NAVs

NAV from 10/16/2020 to 10/07/2026
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Created with Highcharts 11.4.8CPR Invest - Global Resources - A USD - DistJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '2675100125150175200225

Performance

Change in NAV in base 100
FundCPR Invest - Global Resources - A USD - Dist (120.47% over the period)
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Created with Highcharts 11.4.8ABCPR Invest - Global Resources - A USD - DistBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '2650100150200250300
A. Simulation based on the performance from inception to Oct 15, 2020 of AF - CPR Global Resources - AU (D) absorbed by CPR Invest - Global Resources - A USD - Dist on Oct 16, 2020. CPR Invest - Global Resources - A USD - Dist has adopted a fee structure with the same total ongoing charges than those of AF - CPR Global Resources - AU (D) estimated at the merger date Oct 16, 2020.B. Performance of CPR Invest - Global Resources - A USD - Dist since its launch date.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 - Global Resources - A USD - Dist (120.47% over the period)
Select period
Created with Highcharts 11.4.8ABCPR Invest - Global Resources - A USD - DistBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '2650100150200250300
A. Simulation based on the performance from inception to Oct 15, 2020 of AF - CPR Global Resources - AU (D) absorbed by CPR Invest - Global Resources - A USD - Dist on Oct 16, 2020. CPR Invest - Global Resources - A USD - Dist has adopted a fee structure with the same total ongoing charges than those of AF - CPR Global Resources - AU (D) estimated at the merger date Oct 16, 2020.B. Performance of CPR Invest - Global Resources - A USD - Dist since its launch date.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)Currency
Sector
Weight
Spread / Index
SHELL PLC GBPEnergy5.98%0.96%
EXXONMOBIL HOLDINGS CORPEnergy5.93%1.18%
NUTRIEN LTDMaterials5.00%-0.10%
TOTALENERGIES SE PARISEnergy4.88%1.38%
CHEVRON CORPEnergy3.63%0.91%
FREEPORT-MCMORAN INCMaterials3.07%0.67%
UPM-KYMMENE OYJMaterials2.52%-0.72%
AGNICO EAG MINES-USDMaterials2.40%0.18%
CORTEVA INCMaterials2.27%-0.20%
NEWMONT CORP USDMaterials2.22%-0.72%

Management commentary

Effective date: 30/09/2026September 2026 was marked by the return of major central banks to monetary tightening: within the space of a week, the ECB, the Fed, and the BoJ all raised their key interest rates by 25 basis points, which is a first for these three central banks in the same month. This move occurred in a context of high energy prices. Indeed, the conflict between Iran and the United States intensified again at the beginning of the month, with attacks on both sides against ships near the Strait of Hormuz.

The materials sector faced several simultaneous headwinds. Gold fell sharply as there was a significant rise in the US 10-year real interest rates of almost 50 basis points and a 2% appreciation of the US dollar against major currencies. Gold producers were heavily sold in September. Copper experienced a volatile month: prices reached a record high at the beginning of the month due to tight supply and tariff expectations, which supported copper stocks, but then fell sharply on September 10 after Reuters reported that the White House had blocked tariffs on refined copper due to concerns about affordability. Lithium stocks were the most affected subsector, penalized by persistent concerns of oversupply and declining political support in China. Fertilizer stocks were impacted by Trump's announcement of a potential potash deal with Belarus.

The energy sector was divided between refiners and upstream/oilfield services. Retail diesel prices in the United States climbed to record levels above $6.50 per gallon, driven by the ongoing war between the United States and Iran disrupting flows through the Strait of Hormuz and Ukrainian strikes on Russian refineries. This created a strong tailwind for refining margins — the ultra-low sulfur diesel margin reportedly reached about $106 per barrel — which significantly boosted profits and refining stocks until mid-month. However, the rally stopped in the last two weeks, with reports that the Trump administration was preparing a 90-day diesel export ban, triggering massive one-day sell-offs in refiner stocks. Oilfield services and the uranium/nuclear sectors significantly underperformed. Companies exposed to LNG benefited from the energy supply shock, with Shell's final investment decision (FID) on phase 2 of the LNG Canada project (doubling capacity to 28 mtpa) providing a catalyst at the end of the month.

In this environment, the natural resources theme posted a significantly negative performance, far worse than global equities. While the energy sector proved the most resilient, metals and mining were particularly affected. The agriculture sector ranked in the middle of the pack.

In this context, the fund recorded a markedly negative performance, underperforming its benchmark index. Materials were the main detractor from performance, notably through metals and mining including gold miners (Kinross Gold, Agnico Eagle), diversified miners (Solaris Resources, Nouveau Monde Graphite), lithium producers (Standard Lithium, Albemarle), and aluminum (Alcoa). The underexposure to the paper and wood industry, which proved more defensive, was also penalizing. The energy sector also contributed negatively through uranium (Cameco Corp, Nexgen Energy) and the overweight in oilfield services. Conversely, the refining sector and the absence of exposure to pure exploration/production stocks were beneficial.

Regarding portfolio management, a new stock was added to the portfolio: Energy Fuels, which develops uranium and rare earth projects in the United States. Furthermore, the main increases concerned the energy sector, through integrated oil companies Shell Plc, BP Plc, and Chevron Corp, oilfield services including Vallourec, and uranium via Nexgen Energy. Conversely, one stock was removed from the portfolio: Ingredion Inc, in favor of an increase in Bunge Global in agricultural products. Additionally, the main reductions concerned Gold Fields and Newmont Corp among gold miners, Ero Copper in copper, West Fraser in the wood industry, and Stee Dynamics in steel.

Characteristics

General data

Inception date
16/10/2020
First Nav Date
15/12/2008
Currency
USD
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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 USD 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 USD 10,000)
Management fees and other administrative or operating costs2.00% of the value of your investment per year. This percentage is based on actual costs over the last year.$190.10
Transaction costs0.32% 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.$30.52
Incidental costs taken under specific conditions (Investment USD 10,000)
Performance fees

15.00% annual outperformance of the reference asset 100% S&P GLOBAL NATURAL RESOURCES INDEX 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.

$5.04

Codification

ISIN code
LU1989770398
Bloomberg code
Reuters code

Investment Objective

The Compartment's objective is to outperform (after applicable fees) over a long-term period (minimum 5 years), the S&P Global Natural Resources Index by investing in international equities mainly involved in the energy, gold and materials activities.

Documents

LanguageDocumentsTypeClosing Date
DE
PDF
01/09/2026
EN
PDF
01/09/2026
FR
PDF
01/09/2026
PDF
31/07/2024
PDF
16/04/2026
PDF
31/01/2026
IT
PDF
01/09/2026
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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