CPR Invest - Food For Generations - Alcl EUR - Acc ISIN : LU2035461222

CPR Invest - Food For Generations - Alcl EUR - Acc
A(C) - LU2035461222
Asset class: Equities
YTD
As of 04/11/2026
14.75%
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 05/11/2026
€118.35
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 05/11/2026
€354.25M
The compartment’s investment objective is to outperform global equity markets over a minimum five-year investment horizon by investing in international equities involved in the entire food value chain (agriculture, forest, water, food and beverage production and distribution, restaurants and all related activities). The investment process takes into account a sustainable approach by excluding certain companies with high Environmental Social and Governance controversies.

NAVs

NAV from 30/09/2019 to 05/11/2026
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Created with Highcharts 11.4.8CPR Invest - Food For Generations - Alcl EUR - AccJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '2660708090100110120130140

Performance

Change in NAV in base 100
FundCPR Invest - Food For Generations - Alcl EUR - Acc (17.32% over the period)
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Created with Highcharts 11.4.8CPR Invest - Food For Generations - Alcl EUR - AccBenchmarkJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '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 - Food For Generations - Alcl EUR - Acc (17.32% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Food For Generations - Alcl EUR - AccBenchmarkJan '20Jul '20Jan '21Jul '21Jan '22Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '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 10/31/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)Currency
Weight
GEA GROUP AG4.53%
KERRY GROUP PLC-A EUR3.98%
UNILEVER PLC (GBP)3.37%
COMPASS GROUP PLC USD3.13%
NOVONESIS (NOVOZYMES) B3.08%
DANONE2.86%
SGS SA-REG2.80%
MOWI ASA2.79%
CANADIAN PACIFIC KANSAS CITY USD2.59%
CROWN HOLDINGS I2.50%

Management commentary

Effective date: 31/10/2026October 2026 was marked by a renewed surge in energy prices. Attacks on ships continued in the Strait of Hormuz, the Houthis claimed strikes against several Saudi refineries, and Donald Trump suggested that U.S. strikes on Iran could resume after the midterm elections on November 3. Brent crude therefore rose by nearly 14% over the month, to $118, its highest level in six months. The other major event of the month was the sharp decline in technology stocks at the very end of the month, following disappointing earnings releases from Alphabet, Amazon, and Intel, which reignited doubts about the profitability of massive investments in AI.
Despite the rise in oil prices, bond yields fell sharply over the month, benefiting from a flight to safety at month-end and the pause in central bank activity. The U.S. 10-year yield fell by nearly 40 bps, to 4.90%, after briefly exceeding 5.30% during the month. The German 10-year yield declined by around 25 bps over the month, to 3.29%. In Japan, the 10-year yield moved back below 3%, to 2.77%. Finally, gold fell again, by about 6% over the month, to a little over $3,875 per ounce, weighed down by the prospect of future Fed rate hikes.
Equity markets were volatile at the end of the month amid concerns about the profitability of AI-related investments. The S&P 500 fell by 0.9% over the month and the Nasdaq by more than 5%. The Euro Stoxx 600 held up better, rising 1.9%. Asian markets, which are more exposed to the semiconductor sector, declined sharply: the Nikkei lost nearly 5.2% and the MSCI Emerging Markets index fell 8.1%, its worst month since the beginning of the war in Iran.
Food for Generations posted a strong performance over the month, benefiting from a sector rotation away from information technology toward defensive sectors such as consumer staples.
The Restaurants sector posted a strong gain, notably thanks to Compass, a defensive name in contract catering. The Food Retail and Food Products sectors benefited from their defensive profile, with strong gains from Dollar Tree, Kroger, as well as Kerry Group and Nestlé. Earnings releases were good in ingredients, relatively good in food products in Europe, but remained disappointing for food products in the United States. The Water and Waste sector also performed well thanks to defensive names in utilities, such as American Water Works, but also thanks to Pentair’s strong results after a very difficult start to the year. By contrast, Kurita Water fell sharply following significant losses on a U.S. contract for water treatment at a semiconductor plant. The Agriculture sector rose moderately in a context of falling grain prices over the month. Strong gains in Zoetis (a defensive name in animal health) and Mowi (strong earnings) were partially offset by declines in agricultural machinery names (CNH Industrial, Agco) and Bunge in agri-services despite a good earnings report.
In Food Products, we favor ingredient companies that maintain strong sales momentum as well as producers outside the United States, as the U.S. market remains challenging. In Agriculture, salmon farming should benefit from a rise in selling prices in 2026. While salmon production increased significantly in 2025, its growth is expected to be very limited in 2026, supporting the rise in selling prices. The agricultural machinery market has been declining since 2023. After several months of production decline, inventory levels have normalized. The market has therefore stabilized and should reach its bottom in 2026. The European market is even expected to rebound as early as 2026. This should support this segment in the stock market. In the Water and Waste sector, our main positions are in water treatment companies that should benefit from the need to modernize water networks and improve water quality and recycling.

Characteristics

General data

Inception date
09/08/2019
First Nav Date
30/09/2019
Currency
EUR
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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 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 costs1.95% of the value of your investment per year. This percentage is based on actual costs over the last year.€184.78
Transaction costs0.18% 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.€17.31
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.

€2.38

Codification

ISIN code
LU2035461222
Bloomberg code
Reuters code

Investment Objective

The compartment’s investment objective is to outperform global equity markets over a minimum five-year investment horizon by investing in international equities involved in the entire food value chain (agriculture, forest, water, food and beverage production and distribution, restaurants and all related activities). The investment process takes into account a sustainable approach by excluding certain companies with high Environmental Social and Governance controversies.

Documents

LanguageDocumentsTypeClosing Date
EN
PDF
01/09/2026
PDF
31/07/2025
PDF
25/06/2026
PDF
31/01/2026
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
© CPR Asset Management 2026
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