CPR Invest - Global Gold Mines - F EURH - Acc ISIN : LU1989765802

CPR Invest - Global Gold Mines - F EURH - Acc
F EUR Hgd(C) - LU1989765802
Asset class: Equities
YTD
As of 11/09/2026
10.59%
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 11/09/2026
€199.26
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 11/09/2026
$2.54B
The Compartment’s objective is to outperform (after applicable fees) the NYSE Arca Gold Miners index over a long-term period (minimum 5 years) by investing in international equities mainly involved in the mining of gold or other precious metals and minerals or other related mining activities.

NAVs

NAV from 10/16/2020 to 09/11/2026
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Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - F EURH - AccJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '26Sep '…050100150200250300

Performance

Change in NAV in base 100
FundCPR Invest - Global Gold Mines - F EURH - Acc (129.59% over the period)
Select period
Created with Highcharts 11.4.8ABCPR Invest - Global Gold Mines - F EURH - AccBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '260100200300400500600
A. Simulation based on the performance from inception to Oct 15, 2020 of AF - CPR Global Gold Mines - FHE (C) absorbed by CPR Invest - Global Gold Mines - F EURH - Acc on Oct 16, 2020. CPR Invest - Global Gold Mines - F EURH - Acc has adopted a fee structure with the same total ongoing charges than those of AF - CPR Global Gold Mines - FHE (C) estimated at the merger date Oct 16, 2020.B. Performance of CPR Invest - Global Gold Mines - F EURH - Acc since its launch date.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
*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 Gold Mines - F EURH - Acc (129.59% over the period)
Select period
Created with Highcharts 11.4.8ABCPR Invest - Global Gold Mines - F EURH - AccBenchmarkJul '17Jul '18Jul '19Jul '20Jul '21Jul '22Jul '23Jul '24Jul '25Jul '260100200300400500600
A. Simulation based on the performance from inception to Oct 15, 2020 of AF - CPR Global Gold Mines - FHE (C) absorbed by CPR Invest - Global Gold Mines - F EURH - Acc on Oct 16, 2020. CPR Invest - Global Gold Mines - F EURH - Acc has adopted a fee structure with the same total ongoing charges than those of AF - CPR Global Gold Mines - FHE (C) estimated at the merger date Oct 16, 2020.B. Performance of CPR Invest - Global Gold Mines - F EURH - Acc since its launch date.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
*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
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector
Weight
Spread / Index
AGNICO EAG MINES-USDMaterials8.11%-1.32%
NEWMONT CORP USDMaterials6.32%-6.14%
FRANCO NEVADA CORP (USA)Materials5.31%0.65%
ANGLOGOLD ASHANTI PLC NYSEMaterials5.16%-0.05%
WHEATON PRECIOUS METALS CORPMaterials5.09%-1.25%
BARRICK MINING CORPMaterials3.94%-3.00%
KINROSS GOLD CORP USMaterials3.77%0.22%
GOLD FIELDS LTD-US-ADRMaterials3.45%-0.49%
EQUINOX GOLD CORP - USDMaterials3.03%1.72%
PAN AMER SILVER USDMaterials3.01%0.88%

Management commentary

Effective date: 31/08/2026Strong rebound in gold prices in August, as US debt soars with total outstanding now exceeding the $40T mark. The announcement by US Treasury Secretary Scott Bessent of a plan to buy back maturities over 10 years for an amount that could approach $1T had the effect of a bombshell, triggering a rally in gold prices to almost $4700/oz. But this was without counting on Fed Chairman Kevin Warsh, who dashed market hopes during his speech at Jackson Hall, insisting on maintaining his 2% inflation target and on the means to achieve it. Despite the pullback during the last week, gold prices ended with a monthly increase of ~9.5% ($)

In this context, investor interest in gold was rekindled and holdings of physically-backed gold ETCs jumped by almost 70 tonnes in August, returning to break-even since the start of the year.
 
Gold mining companies were not left behind in this environment, surging by more than 30% ($) in August, their best monthly performance since April 2020. The average gold prices expected by consensus for the whole of 2026 remained at $4545/oz, allowing for a stabilization of 12-month earnings expectations in August compared to July. It should be noted that after continued downward revisions, 12-month earnings expectations turned positive from mid-month, and remain up by ~15.5% since the start of the year.

Taking advantage of this momentum, the fund’s performance posted a sharp increase in August, close to that of its benchmark index. The best contributors to performance were the intermediate company Equinox Gold, the developers Novagold Resources and Gogold Resources, and the silver producer Aya Gold & Silver. In addition, the absence of exposure to Chinese companies Zijin and Zhaojin Mining, the Peruvian company Minas Buenaventura, the royalty company Triple Flag, as well as the underweighting of Barrick Mining, were also beneficial. Conversely, the main detractors were the developers Montage Gold, Omai Gold Mines and Skeena Resources, and the junior companies G Mining and Artemis Gold. The underweighting of Newmont Corp and the absence of exposure to Eldorado Gold and SSR Mining were also penalizing
 
Regarding portfolio management, two stocks exited the portfolio: Rio2 Ltd, which is developing two gold projects, and Bravo Mining, which is developing a platinum project in Brazil. Conversely, the main increases concerned Pan American Silver in silver, the senior companies Agnico Eagle, Newmont Corp and Anglogold Ashanti, the intermediate companies Alamos Gold, Zijin Gold, and the royalty/streaming companies Wheaton Precious Metals and Franco Nevada.
 

Characteristics

General data

Inception date
16/10/2020
First Nav Date
28/01/2013
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 costsWe do not charge an entry fee for this product.€0
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 costs2.96% of the value of your investment per year. This percentage is based on actual costs over the last year.€295.70
Transaction costs0.16% 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.€16.36
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

15.00% annual outperformance of the reference asset 100% NYSE ARCA GOLD MINERS INDEX 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
LU1989765802
Bloomberg code
CIGGMFE LX
Reuters code

Investment Objective

The Compartment’s objective is to outperform (after applicable fees) the NYSE Arca Gold Miners index over a long-term period (minimum 5 years) by investing in international equities mainly involved in the mining of gold or other precious metals and minerals or other related mining activities.

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.
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