CPR Invest - Hydrogen - I EUR - Acc ISIN : LU2389406054
CPR Invest - Hydrogen - I EUR - Acc
I EUR(C) - LU2389406054
Asset class: Equities
YTD
As of 09/09/202614.59%
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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Performance
Change in NAV in base 100
FundCPR Invest - Hydrogen - I EUR - Acc (40.08% 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
FundCPR Invest - Hydrogen - I EUR - Acc (40.08% 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
Repartition 08/31/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector | Weight | Spread / Index | |
|---|---|---|---|
| SIEMENS ENERGY AG | Industrials | 5.29% | 5.17% |
| SCHNEIDER ELECT SE | Industrials | 5.04% | 4.86% |
| EATON CORP PLC | Industrials | 3.70% | 3.55% |
| ANGLO AMERICAN PLC GBP | Materials | 3.52% | 3.46% |
| SIEMENS AG-REG | Industrials | 3.46% | 3.22% |
| AIR LIQUIDE SA | Materials | 3.36% | 3.24% |
| LINDE PLC | Materials | 3.13% | 2.91% |
| HITACHI LTD | Industrials | 3.05% | 2.91% |
| BYD CO LTD-H | Consumer Discretionary | 2.92% | 2.88% |
| ENEL SPA | Utilities | 2.80% | 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).
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
30/11/2021First Nav Date
15/12/2021Currency
EURShow more
Valuation
DailyMinimum initial investment
100000 eurosMinimum 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 | 0.97% of the value of your investment per year. This percentage is based on actual costs over the last year. | €91.87 | |
| Transaction costs | 0.47% 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
LU2389406054Bloomberg 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
| Language | Documents | Type | Closing Date |
|---|---|---|---|
NL | PDF | 04/09/2026 | |
PDF | 03/08/2026 | ||
PDF | 31/01/2026 | ||
EN | PDF | 31/07/2025 | |
NL | PDF | 31/08/2026 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
NL | PDF | 21/05/2025 | |
EN | PDF | 07/05/2026 |
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)