CPR Invest - Global Gold Mines - P EUR - Acc ISIN : LU2637163028

CPR Invest - Global Gold Mines - P EUR - Acc
P EUR - Acc(C) - LU2637163028
Asset class: Equities
YTD
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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
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SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
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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 08/31/2026 to 01/01/1970
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Data range not available

Performance

Change in NAV in base 100
FundCPR Invest - Global Gold Mines - P EUR - Acc (0% over the period)
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Data range not available
*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 - P EUR - Acc (0% over the period)
Select period
Data range not available
*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 07/31/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector
Weight
Spread / Index
AGNICO EAG MINES-USDMaterials7.66%-1.41%
NEWMONT CORP USDMaterials5.96%-6.31%
FRANCO NEVADA CORP (USA)Materials5.63%0.53%
WHEATON PRECIOUS METALS CORPMaterials4.76%-1.43%
ANGLOGOLD ASHANTI PLC NYSEMaterials4.71%-0.28%
BARRICK MINING CORPMaterials4.26%-3.29%
KINROSS GOLD CORP USMaterials3.78%0.25%
GOLD FIELDS LTD-US-ADRMaterials3.28%-0.50%
EQUINOX GOLD CORP - USDMaterials2.94%2.05%
PAN AMER SILVER USDMaterials2.85%0.52%

Management commentary

Effective date: 31/07/2026Relative stability in gold prices in July, supported by the $4000/oz level, has prompted the return of certain investors. The situation in the Middle East, leading to high volatility in oil prices, and consequently in interest rates, continues to weigh on the trend. While the Fed kept its key rates unchanged at the last FOMC, the lack of predictability in its future actions is making the market nervous, particularly the foreign exchange market.

After experiencing significant outflows in recent months, the assets of physically-backed gold ETCs stabilized in July, but remain down by about 70 tonnes since the beginning of the year.
 
The World Gold Council published its quarterly report showing relatively stable gold demand in the first half compared to last year, but noting a clear recovery in central bank purchases in the second quarter, after a much weaker-than-expected first quarter.
 
Gold mining companies ended the month slightly down. It should be noted that the average gold price expected by consensus for the whole of 2026 has been significantly revised down to $4545/oz from $4725/oz last month, leading to a downward revision of 12-month earnings expectations by ~6.15% in July, and by ~9.8% compared to their peak last May, but they remain up by ~15.5% since the beginning of the year.

In this context, the fund's performance declined in July, but outperformed its benchmark index. The best contributor to performance was the intermediate company DPM Metals, whose second quarter results were exceptional. Developer Omai Gold Mines, junior companies Artemis Gold, Wesdome Gold, and silver companies Aya Gold & Silver and Sinda also contributed positively. The absence of exposure to Fresnillo, Greatland Resources, and Allied Gold—the latter's takeover project by Zijin Gold having been suspended—and the underweighting of Agnico Eagle were also beneficial. Conversely, the main detractors were developers Osisko Gold Group, Lumina Metals, Gogold Resources, Bravo Mining, and Perpetua Resources, and intermediate companies Orla Mining, Iamgold, and Alamos Gold, the latter having revised its forecasts downward. The absence of exposure to Chinese companies Zijin Mining, Zhaojin Mining, and Lingbao Gold, and the underweighting of Newmont Corp were also penalizing.
 
Regarding portfolio management, we participated in the IPO of Cadillac Mines, formerly Gold Candles, which is developing several gold and nickel deposits in Canada. In addition, the main increases were in Evolution Mining, an Australian intermediate producer, and Agnico Eagle, a Canadian senior company. Conversely, one stock left the portfolio, Emerald Resources, an Australian company operating the Okvau mine in Cambodia. Furthermore, the main reductions concerned Artemis Gold, which operates the Blackwater mine in Canada, Coeur Mining in silver, and Zijin Gold, the gold subsidiary of Zijin Mining.

Characteristics

General data

Inception date
22/12/2023
First Nav Date
Currency
EUR
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Valuation
Daily
Minimum initial investment
10000 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 4.00% 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 €400.00
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 costs1.55% of the value of your investment per year. This percentage is based on actual costs over the last year.€148.80
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.€17.38
Incidental costs taken under specific conditions (Investment EUR 10,000)
Performance fees

15.00% annual outperformance of the reference asset 15% of the performance realized by the Compartment relevant Shares Class above that of the reference asset. NYSE Arca Gold Miners Net Return index. 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
LU2637163028
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
11/08/2026
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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