CPR Invest - Global Gold Mines - T1 EUR - Acc ISIN : LU1989766016

CPR Invest - Global Gold Mines - T1 EUR - Acc
T(C) - LU1989766016
Asset class: Equities
YTD
As of 04/11/2026
4.27%
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 04/11/2026
€30,906.45
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 04/11/2026
$2.19B
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 28/01/2021 to 04/11/2026
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Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - T1 EUR - AccMay '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '26010K20K30K40K50K

Performance

Change in NAV in base 100
FundCPR Invest - Global Gold Mines - T1 EUR - Acc (203.38% over the period)
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Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - T1 EUR - AccBenchmarkMay '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '260100200300400500
*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 - T1 EUR - Acc (203.38% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - T1 EUR - AccBenchmarkMay '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '260100200300400500
*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)CurrencySector allocation
Sector
Weight
Spread / Index
AGNICO EAG MINES-USDMaterials8.96%-1.15%
NEWMONT CORP USDMaterials6.82%-6.47%
FRANCO NEVADA CORP (USA)Materials5.76%0.75%
WHEATON PRECIOUS METALS CORPMaterials4.94%-1.37%
ANGLOGOLD ASHANTI PLC NYSEMaterials4.79%-0.05%
BARRICK MINING CORPMaterials3.63%-3.52%
KINROSS GOLD CORP USMaterials3.29%0.36%
GOLD FIELDS LTD-US-ADRMaterials3.17%-0.44%
NORTHERN STAR RESOURCES LTDMaterials3.13%0.32%
PAN AMER SILVER USDMaterials2.92%1.02%

Management commentary

Effective date: 31/10/2026Continued decline in gold prices, ending the month below the $4000/oz mark, at the lowest level since October 2025. The significant drop of more than 30bps in US 10-year real rates did not have the expected effect on the trend, which was penalized by a renewed surge in oil prices and the strength of the US dollar.

Despite this adverse environment, the assets under management of ETCs backed by physical gold remained stable in October, returning to their highest level since July-August 2022 before contracting at the end of the month.
 
Gold mining companies suffered in this environment, amplifying the decline in gold prices. It should be noted, however, that they have not amplified the drop since the peak in the first quarter and have shown a decline in line with physical gold since the beginning of the year. The average gold prices expected by consensus for the whole of 2026 remain at 4500/oz, but this has not prevented a downward revision of expected 12-month profits by 3.5%, although they remain up by ~9.5% since the start of the year.

In this context, the fund’s performance recorded a significant decline, greater than that of its benchmark index. The absence of exposure to Merdeka Gold, which suffered from the sharp decline in the Indonesian market, First Majestic in silver, SSR Mining, and Zijin Mining contributed positively to performance. Conversely, the main detractors were the intermediate company DPM Metals, the junior companies Montage Gold, G Mining, and Wesdome Gold, and the developer Omai Gold. In addition, the underweighting of Newmont Corp and Barrick Mining also weighed on performance.
 
Regarding portfolio management, the main increases concerned the senior companies Agnico Eagle and Newmont, the intermediate company Eldorado Gold after the adjustment of its production outlook, and the junior company Aris Mining, whose production profile could increase significantly. Conversely, the main reductions concerned Barrick Mining, in the absence of real catalysts, and DPM Metals, due to uncertainties related to their activities in Bosnia and the elections in Serbia.

Characteristics

General data

Inception date
16/10/2020
First Nav Date
28/01/2021
Currency
EUR
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Valuation
Daily
Minimum initial investment
100 share(s)
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 costs0.20% of the value of your investment per year. This percentage is based on actual costs over the last year.€19.38
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.€15.54
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance feesThere is no performance fee for this product.€0.00

Codification

ISIN code
LU1989766016
Bloomberg code
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.
© CPR Asset Management 2026
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