CPR Invest - Global Gold Mines - M2 EUR - Acc ISIN : LU2265520812

CPR Invest - Global Gold Mines - M2 EUR - Acc
M2 EUR(C) - LU2265520812
Asset class: Equities
YTD
As of 07/10/2026
6.96%
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 07/10/2026
€290.32
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 07/10/2026
$2.23B
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 12/07/2020 to 10/07/2026
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Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - M2 EUR - AccJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '260100200300400

Performance

Change in NAV in base 100
FundCPR Invest - Global Gold Mines - M2 EUR - Acc (181.54% over the period)
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Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - M2 EUR - AccBenchmarkJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '260100200300400
*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 - M2 EUR - Acc (181.54% over the period)
Select period
Created with Highcharts 11.4.8CPR Invest - Global Gold Mines - M2 EUR - AccBenchmarkJan '21May '21Sep '21Jan '22May '22Sep '22Jan '23May '23Sep '23Jan '24May '24Sep '24Jan '25May '25Sep '25Jan '26May '26Sep '260100200300400
*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 09/30/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector
Weight
Spread / Index
AGNICO EAG MINES-USDMaterials8.36%-1.43%
NEWMONT CORP USDMaterials6.37%-6.39%
FRANCO NEVADA CORP (USA)Materials5.55%0.64%
WHEATON PRECIOUS METALS CORPMaterials4.94%-1.42%
ANGLOGOLD ASHANTI PLC NYSEMaterials4.84%-0.09%
BARRICK MINING CORPMaterials3.78%-3.20%
KINROSS GOLD CORP USMaterials3.37%0.34%
GOLD FIELDS LTD-US-ADRMaterials3.02%-0.45%
PAN AMER SILVER USDMaterials3.00%1.03%
EQUINOX GOLD CORP - USDMaterials2.92%1.56%

Management commentary

Effective date: 30/09/2026Significant decline in gold prices of ~6% ($) in September, while a notable increase in US 10-year real interest rates of almost 50bps and a 2% appreciation of the US dollar against major currencies was observed.

Nevertheless, investor interest in gold remains strong, with ETC holdings backed by physical gold rising by 63 tonnes in September, for a total of 3,140 tonnes, the highest level since August 2022.
 
Gold mining companies suffered in this environment, amplifying the drop in gold prices with a decline of almost 11% ($). The average gold prices expected by consensus for the whole of 2026 have been negatively adjusted to $4,500/oz, leading to a downward revision of expected 12-month profits by 2.5%, though they remain up by ~13.5% since the start of the year.

In this context, the fund’s performance recorded a sharp decline in September, but less than that of its benchmark index. The best contributors to performance were the intermediate companies DPM Metals, whose drilling results in Serbia and Bulgaria are very promising, and Endeavour Mining; the developers Montage Gold, whose Kone mine in Côte d’Ivoire is entering production, and Founders Metals, as Gold Fields now holds 19.9% of the capital; the silver producer Aya Gold & Silver with the release of the Boumadine PEA in Morocco; and the junior Wesdome Gold Mines. Conversely, the main detractors were the developer Novagold Resources, impacted by the drop in gold prices, and the underexposure to Newmont Corp, which proved more defensive during the market downturn.
 
Regarding portfolio management, a new stock was added to the portfolio: Eldorado Gold, whose Skouries project in Greece is entering production. Furthermore, the main increases concerned Or Royalties, whose valuation remains very attractive, and Northern Star Resources, which is attracting interest from Gold Fields. Conversely, one stock exited the portfolio: Westgold Resources in Australia, due to the absence of catalysts. Additionally, the main reductions concerned the senior companies Barrick Mining and Newmont Corp, the streaming company Wheaton Precious Metals, and the intermediate companies Endeavour Mining and Alamos Gold.

Characteristics

General data

Inception date
04/12/2020
First Nav Date
07/12/2020
Currency
EUR
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Valuation
Daily
Minimum initial investment
100000 euros
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 10.00% 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 €1,000.00
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 costs1.08% of the value of your investment per year. This percentage is based on actual costs over the last year.€97.56
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.€14.72
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance feesThere is no performance fee for this product.€0.00

Codification

ISIN code
LU2265520812
Bloomberg code
CIGGMM2 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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