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CPR Invest - Hydrogen - I EUR - Acc ISIN : LU2389406054

CPR Invest - Hydrogen - I EUR - Acc
I EUR(C) - LU2389406054
Asset class: Equities
YTD
As of 09/09/2026
14.59%
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 09/09/2026
€140.84
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 09/09/2026
$676.42M
The Compartment's objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in international equities of companies involved in any part of the hydrogen economy. The investment process integrates a sustainable approach through Environmental, Social and Governance (ESG) criteria. 

NAVs

NAV from 12/15/2021 to 09/09/2026
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Created with Highcharts 11.4.8CPR Invest - Hydrogen - I EUR - AccJan '22Apr '22Jul '22Oct '22Jan '23Apr '23Jul '23Oct '23Jan '24Apr '24Jul '24Oct '24Jan '25Apr '25Jul '25Oct '25Jan '26Apr '26Jul '2680100120140160

Performance

Change in NAV in base 100
FundCPR Invest - Hydrogen - I EUR - Acc (40.08% over the period)
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Created with Highcharts 11.4.8CPR Invest - Hydrogen - I EUR - AccBenchmarkJan '22Apr '22Jul '22Oct '22Jan '23Apr '23Jul '23Oct '23Jan '24Apr '24Jul '24Oct '24Jan '25Apr '25Jul '25Oct '25Jan '26Apr '26Jul '2680100120140160180
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Hydrogen - I EUR - Acc (40.08% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Hydrogen - I EUR - AccBenchmarkJan '22Apr '22Jul '22Oct '22Jan '23Apr '23Jul '23Oct '23Jan '24Apr '24Jul '24Oct '24Jan '25Apr '25Jul '25Oct '25Jan '26Apr '26Jul '2680100120140160180

Portfolio Analysis

Repartition 08/31/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector
Weight
Spread / Index
SIEMENS ENERGY AGIndustrials5.29%5.17%
SCHNEIDER ELECT SEIndustrials5.04%4.86%
EATON CORP PLCIndustrials3.70%3.55%
ANGLO AMERICAN PLC GBPMaterials3.52%3.46%
SIEMENS AG-REGIndustrials3.46%3.22%
AIR LIQUIDE SAMaterials3.36%3.24%
LINDE PLCMaterials3.13%2.91%
HITACHI LTDIndustrials3.05%2.91%
BYD CO LTD-HConsumer Discretionary2.92%2.88%
ENEL SPAUtilities2.80%2.72%

Management commentary

Effective date: 31/08/2026August had started off rather well, with hopes for the restoration of traffic in the Strait of Hormuz. The rest of the month was more turbulent, with renewed tensions between Iran and the United States, new tariffs between the United States and Canada in particular, and intensified Russian bombings in Ukraine while the front appears to be at a standstill.
From a macroeconomic perspective, activity remains well oriented in the United States, even though economic surprises are deteriorating, while Europe is in a more uncertain dynamic.
In this context, markets focused on the end of earnings releases and the outlook provided by companies, which remain positive and show strong growth.
Ultimately, equity markets reached new highs in August. The gold, “Momo,” and technology sectors outperformed, while “Value” stocks, Treasuries, and bond securities underperformed.
However, concerns about “fiscal dominance,” the Fed’s credibility, and the sharp rise in issuances led to an increase in interest rates, which weighed on equities from mid-month onwards. These concerns are likely to persist as government debt levels remain high and significant electoral deadlines lie ahead (mid-terms, French presidential elections, elections in Italy).

In terms of sector performance, Materials driven by gold stocks, Tech boosted by large caps, Energy by rising oil prices, and Healthcare where Medtech is rebounding on low valuations, posted the best gains. Conversely, more defensive sectors affected by rising rates underperformed, including Utilities, Real Estate, Telecoms, and Consumer Staples.

August marked the true launch of the US midterm election campaign. It saw the Democratic opposition sharply criticize the installation of data centers. This led to massive profit-taking on industrial stocks that had benefited so much in their order books from these installation projects. Order books remain full and the projects will go ahead, but in the short term, fear prevails.

In August, the fund fell by -1.9% compared to a +1.7% rise for the MSCI ACWI, showing an underperformance of 3.6%. This underperformance is explained by the decline in industrial stocks, which contributed negatively by -1.8%, the lack of exposure to technology stocks, which cost a relative 1.1%, and exposure to utilities, which cost 1% in relative performance. The rise in interest rates is the main reason for the decline in Utilities. Industrial stocks suffered profit-taking linked to the vehemence of the US midterm campaign arguments from Democratic candidates opposing the installation of data centers. Yet, these projects have been the main growth driver for industrial order books this year. In this context, the declines were indiscriminate and affected almost all players. Added to this was the announcement of a new executive order from President Trump banning the import of foreign inverters, which caused a sharp drop in Sungrow.

Ultimately, the elections will take place in early November and until then, the volatility of our strategy could remain high. However, once this turbulent period has passed and more reasonable valuation levels are restored, the strengthened outlook for industrial stocks should allow us to return to performance. This is all the more true as our exposure is based on long-term trends that are not solely dependent on the installation of data centers. In fact, these only represent the fifth growth driver for global electricity demand, far behind industry (conversion and capacity increases), buildings (heat pumps and, more recently, air conditioning in Europe, which is only 30% equipped), and mobility (38% of electric vehicle sales in France in August 2026 vs 19% in August 2025, linked to the rise in gasoline prices).

Characteristics

General data

Inception date
30/11/2021
First Nav Date
15/12/2021
Currency
EUR
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Valuation
Daily
Minimum initial investment
100000 euros
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 costs0.97% of the value of your investment per year. This percentage is based on actual costs over the last year.€91.87
Transaction costs0.47% 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.€44.42
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

15.00% annual outperformance of the reference asset 100% MSCI ACWI 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
LU2389406054
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 of companies involved in any part of the hydrogen economy. The investment process integrates a sustainable approach through Environmental, Social and Governance (ESG) criteria. 

Documents

LanguageDocumentsTypeClosing Date
FR
PDF
04/09/2026
PDF
31/07/2025
PDF
03/08/2026
PDF
31/01/2026
FR
PDF
31/08/2026
FR
PDF
31/07/2025
FR
PDF
26/10/2016
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.
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