CPR Invest - Biodiversity - R EUR - Acc ISIN : LU3133798929
CPR Invest - Biodiversity - R EUR - Acc
R EUR(C) - LU3133798929
Asset class: Equities
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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SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
-
The Compartment's objective is to outperform the MSCI World Index, over the recommended holding period (at least five years) through active management of international equities, while incorporating indicators for analysing the sustainability of biodiversity practices.
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NAV from 08/28/2026 to 01/01/1970
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Portfolio Analysis
Management commentary
Effective date: 31/07/2026Key highlights of the month
July 2026 was dominated by the renewed geopolitical tensions between Iran and the United States, in a context of the end of negotiations. This development led to a sharp rise in Brent prices in the first part of the month, reaching $100 per barrel, before a slight decline at the end of the period to $89. In the United States, total inflation for June surprised on the downside, at 3.5%, benefiting from lower energy prices and a more widespread slowdown in underlying inflation. In the eurozone, July inflation, on the contrary, surprised on the upside, at 2.9%, due to the rebound in energy prices.
In the United States, the ISM manufacturing and services indices edged down slightly in June, to 53 and 54, while still being consistent with growth close to 2%. However, the June employment report was disappointing and revived questions about the strength of the previous three releases, which had been significantly above expectations.
In Japan, business surveys remain well oriented, with a manufacturing PMI at 54.7 and a services PMI at 51.9. Conversely, China continues to stand out unfavorably, with the economic downturn worsening in July, as the composite PMI hit its lowest level since 2022.
On the monetary front, the main central banks kept their rates unchanged.
Equity markets moved in a mixed fashion. The S&P 500 remained almost flat (-0.1%), weighed down by technology, while the Eurostoxx 600 rose by 1.2%. The Nikkei fell by 8.1% and the MSCI Emerging Markets by 3.3%. Sovereign yields rose sharply, with the US 10-year at 4.71% and the German 10-year at 3.17% at the end of the month. European credit spreads remained broadly stable, and gold ended the month almost unchanged.
Note:
A study published at the end of May in the journal Geophysical Research Letters suggests that trees planted by humans show higher growth than natural forests. Planted trees grow 66% faster than natural woodlands. Several explanatory factors are highlighted, such as the choice of seeded species (often eucalyptus or poplars, which grow quickly) or the active management from which reforested plants benefit. According to scientists, trees resulting from reforestation react more strongly to the increase in atmospheric carbon dioxide. (Since 1978, the Middle Kingdom has planted 66 billion trees. Some 34 billion more will be reforested by 2050).
Summary of the main positions of the month:
Over the month, the fund posted a slightly lower performance compared to the benchmark index.
We note a negative sector effect, despite a good contribution from Communication Services and Consumer Discretionary, but negative in the Energy and Technology sectors.
The main source of underperformance was the rebound in the energy sector, to which the fund is structurally not exposed due to its biodiversity positioning, with an estimated impact of around -0.40%. Added to this was the correction in semiconductor-related stocks and the technology investment chain, which were among the main detractors of the month: despite reductions already made upstream, the normalization of capex expectations and the halt in upward revisions for certain players, in a context of a sharp decline in the momentum factor, weighed on performance.
The country effect was positive, notably with a good contribution in Asia and North America but negative in Europe.
We also observe a neutral effect from our blend factor, with a contribution around -0.01%, and at the same time note a negative effect from our defensive factor, showing a contribution of -0.23%.
The market capitalization size effect was positive, and the effect related to the Biodiversity exclusion was positive.
During the review period, we were overweight on the Environment factor and underweight on the defensive factor.
At the stock level, we find very strong contributors to performance such as Tesla Inc (UW, -26.5%), Autodesk (OW, 19.7%), Central Japan Railway Company (OW, 16.6%), NetApp (OW, 15%).
Conversely, the following stocks penalized us: Applied Materials (OW, -30.2%), Lam Research (OW, -32.8%), Amazon.com (UW, 13.2%), Microsoft (UW, 23.8%).
Stock selection in software provided notable support, with the rebound of Autodesk, held in the portfolio, which mainly reflected a catch-up after the stress episode linked to fears of AI substitution in the software segment; new Buy coverages may also have contributed to the movement. NetApp rebounded in a similar dynamic. Japan also contributed positively via Central Japan Railway, whose rise was more of a technical rebound than a publication effect, as the latter occurred on the 31st, outside the period actually reflected by the prices. "Biodiversity solutions" exposures were more neutral, notably on Xylem, with no specific catalyst identified during the month.
Outlook for the following month:
The market environment is expected to remain dominated in the short term by geopolitical volatility and uncertainty surrounding oil price developments. The main risk remains the persistence of high crude prices, which could temporarily fuel inflation and delay monetary easing. In the United States, caution is still warranted due to high valuations, excessive market concentration, and a risk of disappointment in results or outlook. The theme of artificial intelligence remains promising, but its driver is gradually broadening beyond semiconductors, towards infrastructure, electricity, applications, and adjacent value chains. Europe, on the other hand, appears more attractive, with revaluation potential in the event of macroeconomic improvement and the materialization of announced reforms and investments. The financial, industrial, utilities sectors and certain quality stocks seem better positioned. Japan also maintains a favorable profile, supported by reasonable valuations and solid fundamentals.
We maintain a disciplined approach focused on companies providing solutions to biodiversity challenges, while assuming structural biases (no energy, underweighting certain mega-caps) that may create relative gaps during style rotations.
July 2026 was dominated by the renewed geopolitical tensions between Iran and the United States, in a context of the end of negotiations. This development led to a sharp rise in Brent prices in the first part of the month, reaching $100 per barrel, before a slight decline at the end of the period to $89. In the United States, total inflation for June surprised on the downside, at 3.5%, benefiting from lower energy prices and a more widespread slowdown in underlying inflation. In the eurozone, July inflation, on the contrary, surprised on the upside, at 2.9%, due to the rebound in energy prices.
In the United States, the ISM manufacturing and services indices edged down slightly in June, to 53 and 54, while still being consistent with growth close to 2%. However, the June employment report was disappointing and revived questions about the strength of the previous three releases, which had been significantly above expectations.
In Japan, business surveys remain well oriented, with a manufacturing PMI at 54.7 and a services PMI at 51.9. Conversely, China continues to stand out unfavorably, with the economic downturn worsening in July, as the composite PMI hit its lowest level since 2022.
On the monetary front, the main central banks kept their rates unchanged.
Equity markets moved in a mixed fashion. The S&P 500 remained almost flat (-0.1%), weighed down by technology, while the Eurostoxx 600 rose by 1.2%. The Nikkei fell by 8.1% and the MSCI Emerging Markets by 3.3%. Sovereign yields rose sharply, with the US 10-year at 4.71% and the German 10-year at 3.17% at the end of the month. European credit spreads remained broadly stable, and gold ended the month almost unchanged.
Note:
A study published at the end of May in the journal Geophysical Research Letters suggests that trees planted by humans show higher growth than natural forests. Planted trees grow 66% faster than natural woodlands. Several explanatory factors are highlighted, such as the choice of seeded species (often eucalyptus or poplars, which grow quickly) or the active management from which reforested plants benefit. According to scientists, trees resulting from reforestation react more strongly to the increase in atmospheric carbon dioxide. (Since 1978, the Middle Kingdom has planted 66 billion trees. Some 34 billion more will be reforested by 2050).
Summary of the main positions of the month:
Over the month, the fund posted a slightly lower performance compared to the benchmark index.
We note a negative sector effect, despite a good contribution from Communication Services and Consumer Discretionary, but negative in the Energy and Technology sectors.
The main source of underperformance was the rebound in the energy sector, to which the fund is structurally not exposed due to its biodiversity positioning, with an estimated impact of around -0.40%. Added to this was the correction in semiconductor-related stocks and the technology investment chain, which were among the main detractors of the month: despite reductions already made upstream, the normalization of capex expectations and the halt in upward revisions for certain players, in a context of a sharp decline in the momentum factor, weighed on performance.
The country effect was positive, notably with a good contribution in Asia and North America but negative in Europe.
We also observe a neutral effect from our blend factor, with a contribution around -0.01%, and at the same time note a negative effect from our defensive factor, showing a contribution of -0.23%.
The market capitalization size effect was positive, and the effect related to the Biodiversity exclusion was positive.
During the review period, we were overweight on the Environment factor and underweight on the defensive factor.
At the stock level, we find very strong contributors to performance such as Tesla Inc (UW, -26.5%), Autodesk (OW, 19.7%), Central Japan Railway Company (OW, 16.6%), NetApp (OW, 15%).
Conversely, the following stocks penalized us: Applied Materials (OW, -30.2%), Lam Research (OW, -32.8%), Amazon.com (UW, 13.2%), Microsoft (UW, 23.8%).
Stock selection in software provided notable support, with the rebound of Autodesk, held in the portfolio, which mainly reflected a catch-up after the stress episode linked to fears of AI substitution in the software segment; new Buy coverages may also have contributed to the movement. NetApp rebounded in a similar dynamic. Japan also contributed positively via Central Japan Railway, whose rise was more of a technical rebound than a publication effect, as the latter occurred on the 31st, outside the period actually reflected by the prices. "Biodiversity solutions" exposures were more neutral, notably on Xylem, with no specific catalyst identified during the month.
Outlook for the following month:
The market environment is expected to remain dominated in the short term by geopolitical volatility and uncertainty surrounding oil price developments. The main risk remains the persistence of high crude prices, which could temporarily fuel inflation and delay monetary easing. In the United States, caution is still warranted due to high valuations, excessive market concentration, and a risk of disappointment in results or outlook. The theme of artificial intelligence remains promising, but its driver is gradually broadening beyond semiconductors, towards infrastructure, electricity, applications, and adjacent value chains. Europe, on the other hand, appears more attractive, with revaluation potential in the event of macroeconomic improvement and the materialization of announced reforms and investments. The financial, industrial, utilities sectors and certain quality stocks seem better positioned. Japan also maintains a favorable profile, supported by reasonable valuations and solid fundamentals.
We maintain a disciplined approach focused on companies providing solutions to biodiversity challenges, while assuming structural biases (no energy, underweighting certain mega-caps) that may create relative gaps during style rotations.
Characteristics
General data
Inception date
20/10/2025First Nav Date
Currency
EURShow more
Valuation
DailyMinimum initial investment
1 10/1000° share(s)/equityMinimum additional investment
1 10/1000° share(s)/equityCosts Composition
| One-off costs upon entry or exit (Investment EUR 10,000) | If you exit after 1 year | ||
| Entry costs | This 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 costs | We 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 costs | 1.05% of the value of your investment per year. This percentage is based on actual costs over the last year. | €99.75 | |
| Transaction costs | 0.20% 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. | €19.00 | |
| 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. | €0.00 | |
Codification
ISIN code
LU3133798929Bloomberg code
CPIBRER LXReuters code
Investment Objective
The Compartment's objective is to outperform the MSCI World Index, over the recommended holding period (at least five years) through active management of international equities, while incorporating indicators for analysing the sustainability of biodiversity practices.
Documents
| Language | Documents | Type | Closing Date |
|---|---|---|---|
FR | PDF | 03/08/2026 | |
PDF | 31/07/2025 | ||
PDF | 07/05/2026 | ||
PDF | 31/01/2026 | ||
FR | PDF | 28/04/2026 | |
PDF | 31/07/2026 | ||
PDF | 31/12/2024 | ||
PDF | 31/03/2025 | ||
FR | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
FR | PDF | 20/10/2025 | |
PDF | 07/05/2026 |
This site does not constitute in any way a solicitation or an offer to buy or sell securities. The information it contains is intended to inform the subscriber by supplementing certain financial characteristics of the OPC appearing in the Key Information Document (KID PRIIPs) or in the prospectus. As a result, this information is inevitably partial and is subject to change. The KID PRIIPs or the prospectus must be offered to subscribers prior to subscription, provided upon subscription and made available to the public upon request, as well as the latest financial statements available.
Data relating to past performance does not take into account any entry fees and exit fees on subscriptions and redemptions of units. These fees may impact past performance.
The funds and securities mentioned above are in no way sponsored, recommended or promoted by the sponsor of the reference index or benchmark used. The sponsor of the reference index or benchmark is not legally and legally responsible for the funds, securities, indices or any funds or securities on which these are based.
References of the local representative or paying agent from whom the legal documents are available free of charge: CACEIS Bank France 1-3, place Valhubert 75013 Paris.
Data relating to past performance does not take into account any entry fees and exit fees on subscriptions and redemptions of units. These fees may impact past performance.
The funds and securities mentioned above are in no way sponsored, recommended or promoted by the sponsor of the reference index or benchmark used. The sponsor of the reference index or benchmark is not legally and legally responsible for the funds, securities, indices or any funds or securities on which these are based.
References of the local representative or paying agent from whom the legal documents are available free of charge: CACEIS Bank France 1-3, place Valhubert 75013 Paris.