BFT MONETAIRE COURT TERME ISR CLIMAT - I (C) ISIN : FR0010232298
BFT MONETAIRE COURT TERME ISR CLIMAT - I (C)
Asset class: Money Market
YTD
As of 27/08/20262.10%
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 27/08/2026€14,734.5400
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 27/08/2026€2.01B
The investment objective is to outperform its benchmark, capitalized Eonia, an index representing the eurozone's money market rate, after deducting ongoing charges. To achieve this, the management team selects securities from public or private issuers, in euros or in foreign currencies. These securities will be deemed to be of high quality by the management team and in compliance with the management company's internal credit risk monitoring policy. Fund management may invest, but not exclusively or automatically, in securities issued by...
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NAV from 08/28/2016 to 08/27/2026
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Performance
Change in NAV in base 100
FundBFT MONETAIRE COURT TERME ISR CLIMAT - I (C) (8.96% over the period)
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* Rolling performance : for funds that have been launched since less than 1 year or 3 years or 5 years, the performance showed in the table in the 1 year or 3 years or 5 years column is the performance since inception of the fund.
All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.
Past performance does not guarantee future returns. The value of an investment can rise or fall with market fluctuations, and you may lose the amount originally invested. The material is based upon information that we consider reliable as of the date shown, but we do not represent that it is accurate, complete, valid or timely, in particular any data communicated to us by a third party, and it should not be relied on as such for any particular purpose. All material is subject to change.
The fund performance is calculated net of investment management fees including commissions and custody fees. The benchmark performances are calculated with net dividend reinvested when applicable. Both performances for funds and benchmarks are calculated using internal software fed by external sources (predominantly Datastream).
The exchange rates used to convert the benchmark and investment funds are the rates published by WM/Reuters at 16:00 (London time) on the last day of the month.
All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.
Past performance does not guarantee future returns. The value of an investment can rise or fall with market fluctuations, and you may lose the amount originally invested. The material is based upon information that we consider reliable as of the date shown, but we do not represent that it is accurate, complete, valid or timely, in particular any data communicated to us by a third party, and it should not be relied on as such for any particular purpose. All material is subject to change.
The fund performance is calculated net of investment management fees including commissions and custody fees. The benchmark performances are calculated with net dividend reinvested when applicable. Both performances for funds and benchmarks are calculated using internal software fed by external sources (predominantly Datastream).
The exchange rates used to convert the benchmark and investment funds are the rates published by WM/Reuters at 16:00 (London time) on the last day of the month.
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundBFT MONETAIRE COURT TERME ISR CLIMAT - I (C) (8.96% over the period)
Select period
* Rolling performance : for funds that have been launched since less than 1 year or 3 years or 5 years, the performance showed in the table in the 1 year or 3 years or 5 years column is the performance since inception of the fund.
All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.
Past performance does not guarantee future returns. The value of an investment can rise or fall with market fluctuations, and you may lose the amount originally invested. The material is based upon information that we consider reliable as of the date shown, but we do not represent that it is accurate, complete, valid or timely, in particular any data communicated to us by a third party, and it should not be relied on as such for any particular purpose. All material is subject to change.
The fund performance is calculated net of investment management fees including commissions and custody fees. The benchmark performances are calculated with net dividend reinvested when applicable. Both performances for funds and benchmarks are calculated using internal software fed by external sources (predominantly Datastream).
The exchange rates used to convert the benchmark and investment funds are the rates published by WM/Reuters at 16:00 (London time) on the last day of the month.
All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.
Past performance does not guarantee future returns. The value of an investment can rise or fall with market fluctuations, and you may lose the amount originally invested. The material is based upon information that we consider reliable as of the date shown, but we do not represent that it is accurate, complete, valid or timely, in particular any data communicated to us by a third party, and it should not be relied on as such for any particular purpose. All material is subject to change.
The fund performance is calculated net of investment management fees including commissions and custody fees. The benchmark performances are calculated with net dividend reinvested when applicable. Both performances for funds and benchmarks are calculated using internal software fed by external sources (predominantly Datastream).
The exchange rates used to convert the benchmark and investment funds are the rates published by WM/Reuters at 16:00 (London time) on the last day of the month.
Portfolio Analysis
Management commentary
Effective date: 31/07/2026July 2026 was marked by the end of negotiations and the resumption of hostilities between Iran and the United States. As a result, the price of Brent crude rose sharply in the first part of the month, reaching $100 per barrel, before slightly decreasing at the very end of the month to $89. Ultimately, its increase was 22% over the month, the largest rise since March.
The erratic movement of inflation indices reflects the volatility of oil prices. In the United States, headline inflation surprised significantly on the downside for June, at 3.5%, partly due to the drop in energy prices that month but also thanks to a clear and widespread decline in core inflation. Conversely, inflation surprised on the upside in the eurozone in July, at 2.9%, due to the rebound in oil prices.
Overall, business surveys are consistent with a moderate pace of growth. In the eurozone, the composite PMI rose from 50 to 51.9, thanks to an improvement in industry but especially in services, thus returning to its highest level since the outbreak of the war in Iran. Moreover, GDP growth in Q2 came in at +0.4% quarter-on-quarter. In the United States, both the ISM manufacturing and services surveys fell slightly in June (to 53.4 and 54, respectively) but remain consistent with a growth rate of around 2%. The June employment report was not good and cast doubt on the previous three reports, which had been significantly better than expected. In particular, the private sector excluding healthcare returned to job losses. In Japan, PMI surveys remain well oriented with 54.7 for manufacturing and 51.9 for services. China, on the other hand, continues to stand out negatively, with the economic downturn worsening over the month, as the composite PMI fell to its lowest level since 2022.
Several major central banks held their monetary policy meetings in July, but none decided to change their interest rate policy. The ECB left its deposit rate unchanged at 2.25% but opened the door to a hike in September, in response to renewed tensions in energy prices. The Bank of Japan kept its main policy rate at 1% but was fairly aggressive about a forthcoming tightening. For its part, the Fed did not change its policy rates but was satisfied with the rise in bond yields since the previous meeting, in direct reaction to economic developments. Most notably, it confirmed a radical shift in its communication regime: it will provide significantly less guidance than in the past. This also implies a regime change for the bond market.
Bond yields rose sharply over the month, largely due to the rebound in oil prices. Ultimately, 10-year US and German yields climbed by about 30 bps over the month to end at 4.71% and 3.17%, respectively. In Europe, credit spreads remained roughly unchanged over the month, staying below the levels seen before the war in Iran. The price of gold also ended the month virtually unchanged.
€STR swap rates increased by 9 bps for the 3-month swap to 2.31% and by +22 bps for the 1-year swap to 2.61%.
Bank issuer spreads on the NeuCP money market remained steady in July. French bank spreads show average levels of ESTR +33 bps for one-year maturities and ESTR +24 bps for six-month maturities, stable compared to the previous month.
Corporate issuer rates at issuance stand at +247 bps for 3-month maturities, stable over the month, representing an average spread vs 3-month ESTR Swap of +19 bps.
At the end of July, the fund shows an average life (WAL) of 75 days, down 5 days over the month. The fund’s interest rate sensitivity (WAM) stands at 4 days, stable over the month.
Liquidity and Money Market UCITS represent 37.3% of the fund, up over the month. Exposure to bank issuers stands at 45.5%, stable over the month, while exposure to Corporate issuers stands at 17%, slightly down over the month.
During the month, we invested €270 million, including €170 million in Financials and €90 million in Corporate issuers. The WAL of investments made during the month (excluding JJ) is 119 days, down compared to the previous month.
The fund’s average ESG rating stands at C, above its investment universe after excluding the bottom 30% of issuers by rating.
The erratic movement of inflation indices reflects the volatility of oil prices. In the United States, headline inflation surprised significantly on the downside for June, at 3.5%, partly due to the drop in energy prices that month but also thanks to a clear and widespread decline in core inflation. Conversely, inflation surprised on the upside in the eurozone in July, at 2.9%, due to the rebound in oil prices.
Overall, business surveys are consistent with a moderate pace of growth. In the eurozone, the composite PMI rose from 50 to 51.9, thanks to an improvement in industry but especially in services, thus returning to its highest level since the outbreak of the war in Iran. Moreover, GDP growth in Q2 came in at +0.4% quarter-on-quarter. In the United States, both the ISM manufacturing and services surveys fell slightly in June (to 53.4 and 54, respectively) but remain consistent with a growth rate of around 2%. The June employment report was not good and cast doubt on the previous three reports, which had been significantly better than expected. In particular, the private sector excluding healthcare returned to job losses. In Japan, PMI surveys remain well oriented with 54.7 for manufacturing and 51.9 for services. China, on the other hand, continues to stand out negatively, with the economic downturn worsening over the month, as the composite PMI fell to its lowest level since 2022.
Several major central banks held their monetary policy meetings in July, but none decided to change their interest rate policy. The ECB left its deposit rate unchanged at 2.25% but opened the door to a hike in September, in response to renewed tensions in energy prices. The Bank of Japan kept its main policy rate at 1% but was fairly aggressive about a forthcoming tightening. For its part, the Fed did not change its policy rates but was satisfied with the rise in bond yields since the previous meeting, in direct reaction to economic developments. Most notably, it confirmed a radical shift in its communication regime: it will provide significantly less guidance than in the past. This also implies a regime change for the bond market.
Bond yields rose sharply over the month, largely due to the rebound in oil prices. Ultimately, 10-year US and German yields climbed by about 30 bps over the month to end at 4.71% and 3.17%, respectively. In Europe, credit spreads remained roughly unchanged over the month, staying below the levels seen before the war in Iran. The price of gold also ended the month virtually unchanged.
€STR swap rates increased by 9 bps for the 3-month swap to 2.31% and by +22 bps for the 1-year swap to 2.61%.
Bank issuer spreads on the NeuCP money market remained steady in July. French bank spreads show average levels of ESTR +33 bps for one-year maturities and ESTR +24 bps for six-month maturities, stable compared to the previous month.
Corporate issuer rates at issuance stand at +247 bps for 3-month maturities, stable over the month, representing an average spread vs 3-month ESTR Swap of +19 bps.
At the end of July, the fund shows an average life (WAL) of 75 days, down 5 days over the month. The fund’s interest rate sensitivity (WAM) stands at 4 days, stable over the month.
Liquidity and Money Market UCITS represent 37.3% of the fund, up over the month. Exposure to bank issuers stands at 45.5%, stable over the month, while exposure to Corporate issuers stands at 17%, slightly down over the month.
During the month, we invested €270 million, including €170 million in Financials and €90 million in Corporate issuers. The WAL of investments made during the month (excluding JJ) is 119 days, down compared to the previous month.
The fund’s average ESG rating stands at C, above its investment universe after excluding the bottom 30% of issuers by rating.
Characteristics
General data
Inception date
27/11/2000First Nav Date
17/12/2000Currency
EURShow more
Valuation
DailyMinimum initial investment
10 share(s)Minimum 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 day | ||
| Entry costs | We do not charge an entry fee for this product. | €0 | |
| 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 | 0.09% of the value of your investment per year. This percentage is based on actual costs over the last year. | €0.02 | |
| Transaction costs | 0.02% 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. | €0.01 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 10.00% 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
FR0010232298Bloomberg code
Reuters code
Investment Objective
The investment objective is to outperform its benchmark, capitalized Eonia, an index representing the eurozone's money market rate, after deducting ongoing charges. To achieve this, the management team selects securities from public or private issuers, in euros or in foreign currencies. These securities will be deemed to be of high quality by the management team and in compliance with the management company's internal credit risk monitoring policy. Fund management may invest, but not exclusively or automatically, in securities issued by private entities with one of the top two short-term ratings determined by each of the recognized rating agencies, or in securities with an investment grade rating issued by public entities. Securities in foreign currencies will be hedged against the currency risk.
Documents
| Language | Documents | Type | Closing Date |
|---|---|---|---|
NL | PDF | 26/05/2026 | |
EN | PDF | 31/03/2026 | |
PDF | 16/04/2026 | ||
PDF | 30/09/2025 | ||
PDF | 16/04/2026 | ||
EN | PDF | 16/05/2025 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
EN | PDF | 19/06/2025 |
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 the Amundi 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". Amundi 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 collective inestment scheme (UCITS) has been recognised for public marketing in the Netherlands by the Authority for The Financial Markets (AFM)
Nothing contained in this site constitutes a solicitation or offer by any member of the Amundi 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". Amundi 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 collective inestment scheme (UCITS) has been recognised for public marketing in the Netherlands by the Authority for The Financial Markets (AFM)