CPR Invest - Global Disruptive Opportunities - A2 USDH - Acc ISIN : LU1989764748

CPR Invest - Global Disruptive Opportunities - A2 USDH - Acc
A2(C) - LU1989764748
Asset class: Equities
YTD
As of 23/09/2026
23.62%
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 23/09/2026
$172.80
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 23/09/2026
€2.79B
The investment objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in shares of companies which either establish or benefit - fully or partly - from disruptive business models.

NAVs

NAV from 05/15/2020 to 09/23/2026
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Created with Highcharts 11.4.8CPR Invest - Global Disruptive Opportunities - A2 USDH - AccSep '20Jan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '2675100125150175200

Performance

Change in NAV in base 100
FundCPR Invest - Global Disruptive Opportunities - A2 USDH - Acc (72.44% over the period)
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Created with Highcharts 11.4.8CPR Invest - Global Disruptive Opportunities - A2 USDH - AccBenchmarkJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '2650100150200250300
*All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.

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 - Global Disruptive Opportunities - A2 USDH - Acc (72.44% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Global Disruptive Opportunities - A2 USDH - AccBenchmarkJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '2650100150200250300
*All performance figures are calculated in your selected currency based NAV to NAV with gross income accumulated.

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
Sector allocationMain Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)Currency
Created with Highcharts 11.4.8Values55.94​55.9413.20​13.2010.24​10.248.81​8.815.85​5.854.03​4.032.51​2.510.08​0.080.04​0.040.03​0.030.03​0.0342.70​42.7012.66​12.6613.16​13.167.08​7.0810.15​10.156.84​6.840.73​0.732.54​2.540.76​0.762.75​2.750.63​0.63PortfolioBenchmark051015202530354045505560Information TechnologyIndustrialsConsumer DiscretionaryHealth CareCommunication ServicesFinancialsUtilitiesConsumer StaplesEnergyMaterialsReal EstateUnknownHighcharts.com

Management commentary

Effective date: 31/08/2026The month of August 2026 was dominated by concerns over long-term interest rates. The deadlock in negotiations between Iran and the United States, against a backdrop of sporadic attacks, maintained oil volatility, with Brent ending the month at $89. The persistence of energy prices at high levels rekindled inflation fears and weighed on bond markets. In response to the rise in long-term rates, U.S. Treasury Secretary Scott Bessent announced at least a doubling of long-term Treasury buybacks for the quarter.

The inflation figures published in August, relating to the month of July, sent a mixed signal. In the United States, headline inflation (CPI) slowed to 3.4% year-on-year, compared to 3.5% in June, while core inflation fell to 2.5%, its lowest level of the year. In the eurozone, by contrast, inflation accelerated to 2.9%, compared to 2.8% in June, driven by a renewed increase in the energy component (+10.3% year-on-year), linked to oil and gas prices. Core inflation there came out at 2.5%.

Business surveys remained generally well oriented despite energy pressures. In the eurozone, the composite PMI rose for the third consecutive month to 52.1 in August, a high since November, supported by German industry. In the United States, the ISM manufacturing index jumped to 55.6 in July, its best level since May 2022, while the ISM services index held steady at 54.1. Conversely, the July employment report disappointed, with 23,000 net non-farm job losses and significant downward revisions, even though the unemployment rate fell to 4.1%, a thirteen-month low, due to a further decline in the participation rate. In Japan, unemployment fell to 2.4% in July, while Tokyo inflation reached a five-month high in August. China remains lagging, with PMIs falling to a four-month low in July, still reflecting the contrast between AI-related segments and the rest of the economy.

No major central bank met in August. The main event was Jackson Hole, where Kevin Warsh was rather reassuring on employment but concerned about the inflation trajectory. For the first time since the start of his term, he indicated that the Fed's attention should now focus primarily on price stability. In the eurozone, ECB minutes suggest that a majority of the Governing Council would be ready to raise rates in September to contain the effects of rising energy prices. In Japan, several BoJ officials called for an acceleration of tightening, with markets now anticipating a strong probability of a 1.25% rate as early as September.

Equity markets held up well to oil volatility, supported by renewed interest in the artificial intelligence theme. The S&P 500 set several new records before ending the month up 2.6%. The Eurostoxx 600 also reached a historic high, before finishing with a more modest gain (+0.3%). The Nikkei gained 3%, still driven by semiconductors, while the MSCI Emerging rose 3.2%, also supported by technology.
Bond yields generally rose, especially at the end of the month after Kevin Warsh's speech. The U.S. 10-year ended at 4.74%, a high since the start of 2025. The German 10-year rose sharply to 3.30%, its highest level since 2011, amid expectations of an ECB rate hike, while sovereign spreads in the eurozone widened slightly. In Japan, the 10-year also rose to 2.92% in anticipation of BoJ tightening. Finally, gold rebounded strongly (+9.6% for the month), its best monthly performance since January, supported by interventionist measures from the U.S. Treasury.

During the month, the fund outperformed its benchmark index. Technology was the main positive contributor, driven primarily by a strong rebound in software stocks, a segment in which the portfolio maintains a significant overweight. Even though our exposure to SaaS remains relatively limited — even as this segment performed particularly well over the period — cybersecurity, vertical software, and DevOps posted solid performances, supported by a series of robust quarterly reports.

In cybersecurity, the market continues to shift from a reactive protection logic to more integrated approaches to cyber resilience, capable of supporting increasingly autonomous environments. As companies deploy AI agents, security is increasingly seen as a prerequisite for broader adoption of these uses. This shift is resulting in accelerated consolidation around platforms and sustained growth in net new ARR in the sector. On the DevOps side, the continued rise of machine-to-machine flows and, more broadly, the intensification of data volumes are fueling the most favorable growth trends seen in several years.

In network infrastructure, both Arista Networks and Lumentum reported results well above expectations and significantly raised their outlooks, reinforcing the idea that high-speed optical connectivity solutions and Ethernet architectures are among the main beneficiaries of the current AI infrastructure investment cycle. In addition, a new growth driver, often referred to as "scale-across," is gradually emerging as a significant source of revenue. It refers to the increasing complexity of networking needs between very large AI clusters or between different data center pods.

Semiconductors, on the other hand, paused somewhat during the month, despite another generally strong earnings season. The sector has become more controversial in the context of the midterm elections, with the market increasingly pricing in the risk of a political tightening around data center development. While access to electricity, capital intensity, compute availability, and labor constraints are generally identified as the main barriers to data center expansion, risks related to administrative permits and local opposition remain underestimated and are becoming an increasingly important issue for investors.

Outside technology, Adyen rose by 20%, as the group continued its work to rebuild investor confidence after a solid second quarter. The results highlighted further progress in the breadth of the offering — notably in agent-related features, loyalty, and billing — as well as good commercial momentum, illustrated among others by OpenAI, and new wallet share gains among existing clients. DoorDash also stood out, with a 17% increase, driven by record growth in the DashPass subscription program and a sharp acceleration in its advertising business, which is more margin-contributive.

In terms of movements, we took some profits in software in order to redeploy capital to other segments, notably solar and selected semiconductor stocks.
 

Characteristics

General data

Inception date
31/05/2019
First Nav Date
15/05/2020
Currency
USD
Show more
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 costs2.15% of the value of your investment per year. This percentage is based on actual costs over the last year.$204.16
Transaction costs0.78% 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.$73.73
Incidental costs taken under specific conditions (Investment USD 10,000)
Performance feesThere is no performance fee for this product.$0.00

Codification

ISIN code
LU1989764748
Bloomberg code
CPGDOAU LX
Reuters code

Investment Objective

The investment objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in shares of companies which either establish or benefit - fully or partly - from disruptive business models.

Documents

LanguageDocumentsTypeClosing Date
EN
PDF
01/09/2026
PDF
31/07/2025
PDF
25/06/2026
PDF
31/01/2026
EN
PDF
31/08/2026
PDF
13/08/2026
EN
PDF
26/10/2016
The net asset value (NAV) price is the value of one unit of the Fund as of the date listed. The NAV does not take into account any sales charges that may apply when shares are purchased or redeemed.
The prospectuses for the above Authorised Funds are available and may be obtained from the Manager or its authorised distributors. Investors should read the relevant prospectus before deciding to invest in the Funds. All applications for the Funds must be made on application forms accompanying the prospectus.
Past performance and any forecasts made are not indicative of future performance of the Funds. The information on this website is intended for general circulation without taking into account the specific investment objectives, financial situation or particular needs of any particular investor. An investor may wish to seek advice from a financial adviser regarding the suitability of any of the Funds before making a commitment to purchase units in the Funds. In the event an investor chooses not to do so, the investor should consider whether the Funds are suitable for him. For Funds that make payouts, the payouts are neither guaranteed nor assured unless specifically stated in the prospectus of the relevant fund. The Manager has the sole discretion to determine whether a payout is to be made and the rate and/or frequency of distribution.
Investments in the Funds are subject to investment risks, including the possible loss of the principal amount invested. Value of the units in the Funds and the income accruing to the units, if any, may fall or rise. Investors should read the Prospectus before making an investment decision.
Performances are also calculated without taking into account any tax that may lie with the product and/or the customer. The tax efffect depends on the customer’s individual situation and may change. Future returns will inter alia depend on market developments, the fund manager’s skill, the fund’s level risk and subscription and redemtion fees.
The Key investor Informations document (KIID) and the prospectus of the fund, as well as the annual and semi-annual reports are available free of charge on the website www.cpr-am.com and from the Representative or Paying Agents listed below : Representative : AMUNDI SINGAPORE LTD - 168 Robinson Road 24-01, Capital Tower - Singapore 068912
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