CPR Invest - Climate Ultra Short Term Bond - R EUR - Acc ISIN : LU2685405636
CPR Invest - Climate Ultra Short Term Bond - R EUR - Acc
R EUR(C) - LU2685405636
Asset class: Fixed Income
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 fund’s objective, over an investment period of 6 months, is to outperform its benchmark (€STR + 0,15%), while integrating Environmental, Social and Governance (E, S, and G – or, when taken together, ESG) criteria in the investment process.
Marketing Communication
NAVs
NAV from 09/14/2026 to 01/01/1970
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Performance
Change in NAV in base 100
FundCPR Invest - Climate Ultra Short Term Bond - R EUR - Acc (0% over the period)
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FundCPR Invest - Climate Ultra Short Term Bond - R EUR - Acc (0% over the period)
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Portfolio Analysis
Management commentary
Effective date: 31/08/2026August 2026 was marked by concerns over the evolution of long-term rates. The deadlock in negotiations between Iran and the United States, punctuated by sporadic attacks, led to oil prices remaining volatile throughout the month, with Brent crude ending at $89 per barrel. The persistence of energy prices at high levels continued to fuel fears of accelerating inflation and thus weighed on bond markets. In response to this rise in long-term rates, U.S. Treasury Secretary Scott Bessent announced that Treasury purchases of long maturities would be at least doubled for the quarter. Inflation indices published in August, covering the month of July, delivered a mixed message. In the United States, headline inflation (CPI) slowed to 3.4% year-on-year, compared to 3.5% in June, while core inflation fell to 2.5%, its lowest level of the year. In the eurozone, by contrast, inflation accelerated to 2.9% in July, compared to 2.8% in June, driven higher by a renewed acceleration in the energy component (+10.3% year-on-year) linked to developments in oil and gas prices. Core inflation, meanwhile, came in at 2.5%. Activity surveys remained generally well oriented despite high energy prices. In the eurozone, the composite PMI rose for the third consecutive month, reaching 52.1 in August, its highest level since November, driven by German industry. In the United States, the ISM manufacturing index jumped to 55.6 in July, its highest level since May 2022, while the ISM services index held steady at 54.1. The July employment report, on the other hand, disappointed, with a loss of 23,000 non-farm jobs and significant downward revisions for previous months, even though the unemployment rate fell back to 4.1%, a thirteen-month low, due to a further decline in the participation rate.
None of the major central banks held a monetary policy committee meeting in August. The key event of the month from this perspective was the Jackson Hole symposium, where Kevin Warsh was reassuring about the labor market but concerned about the inflation trajectory. For the first time in his term, he provided guidance by saying that the Fed's attention should currently be focused primarily on price stability. In the eurozone, the ECB minutes suggested that a majority of Governing Council members would be ready to raise key rates in September to contain the effects of rising energy prices.
Bond yields generally increased over the month, particularly at the very end of the month after Kevin Warsh's speech. The U.S. 10-year yield ended the month at 4.74%, its highest level since the start of 2025. The German 10-year yield rose sharply, ending the month at 3.30%, its highest level since 2011, driven by expectations of ECB rate hikes. Sovereign spreads in the eurozone widened slightly.
Euro credit held up well over the month. In Investment Grade, spreads tightened by 1 bp to 76 bps, generating an outperformance of 7 bps versus sovereigns. However, the 12 bp rise in underlying yields to 3.8% led to a total return of -0.2%. The BBB segment and short maturities outperformed, while financials underperformed industrials (with Automotive and Telecoms leading). French banks also slightly underperformed in a context of widening OAT spreads. In High Yield, spreads tightened by 10 bps to 255 bps, an outperformance of 43 bps versus sovereigns and a total return of +0.4%. The BB and single-B segments outperformed CCCs. Finally, the primary market resumed in the third week, with a total of €40.8 billion in gross issuance, confirming the market's strong absorption capacity despite seasonally less favorable liquidity.
Summary of positions for the month:
None of the major central banks held a monetary policy committee meeting in August. The key event of the month from this perspective was the Jackson Hole symposium, where Kevin Warsh was reassuring about the labor market but concerned about the inflation trajectory. For the first time in his term, he provided guidance by saying that the Fed's attention should currently be focused primarily on price stability. In the eurozone, the ECB minutes suggested that a majority of Governing Council members would be ready to raise key rates in September to contain the effects of rising energy prices.
Bond yields generally increased over the month, particularly at the very end of the month after Kevin Warsh's speech. The U.S. 10-year yield ended the month at 4.74%, its highest level since the start of 2025. The German 10-year yield rose sharply, ending the month at 3.30%, its highest level since 2011, driven by expectations of ECB rate hikes. Sovereign spreads in the eurozone widened slightly.
Euro credit held up well over the month. In Investment Grade, spreads tightened by 1 bp to 76 bps, generating an outperformance of 7 bps versus sovereigns. However, the 12 bp rise in underlying yields to 3.8% led to a total return of -0.2%. The BBB segment and short maturities outperformed, while financials underperformed industrials (with Automotive and Telecoms leading). French banks also slightly underperformed in a context of widening OAT spreads. In High Yield, spreads tightened by 10 bps to 255 bps, an outperformance of 43 bps versus sovereigns and a total return of +0.4%. The BB and single-B segments outperformed CCCs. Finally, the primary market resumed in the third week, with a total of €40.8 billion in gross issuance, confirming the market's strong absorption capacity despite seasonally less favorable liquidity.
Summary of positions for the month:
- The share of cash, including money market UCITS, is at 10.48% of assets
- Credit sensitivity is down to 1.01
- We have a rate sensitivity of 0.70, down over the month
- The credit quality of the portfolio is solid with an average rating of A-
- The overall ESG score stands at C versus D for the benchmark index
Characteristics
General data
Inception date
15/11/2023First Nav Date
Currency
EURShow more
Valuation
DailyMinimum initial investment
1 10/1000° share(s)/equityMinimum additional investment
1 10/1000° share(s)/equityCosts Composition
| One-off costs upon entry or exit (Investment EUR 10,000) | If you exit after 6 months | ||
| Entry costs | This 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 costs | We 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 costs | 0.45% of the value of your investment per year. This percentage is based on actual costs over the last year. | €21.38 | |
| Transaction costs | 0.05% 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. | €2.35 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 20.00% annual outperformance of the reference asset 20% of the difference between the net assets of the Share Class and the Reference Asset. Performance indicator : €STR + 0,15%. ESMA methodology since 01/01/2022. 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
LU2685405636Bloomberg code
Reuters code
Investment Objective
The fund’s objective, over an investment period of 6 months, is to outperform its benchmark (€STR + 0,15%), while integrating Environmental, Social and Governance (E, S, and G – or, when taken together, ESG) criteria in the investment process.
Documents
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 01/09/2026 | |
EN | PDF | 31/07/2025 | |
PDF | 03/08/2026 | ||
PDF | 31/01/2026 | ||
EN | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 21/05/2025 | |
EN | PDF | 07/05/2026 |
The Funds has been passported into Sweden pursuant to the Swedish Securities Funds Act (as amended) (Sw. lag (2004:46) om värdepappersfonder), implementing the UCITS IV Directive and may accordingly be distributed to Swedish investors. The Key Investor Information Document (“KIID”) (in Swedish) and the prospectus for the funds, as well as the annual and semi-annual reports are also available from the Swedish paying agent free of charge. The name and details of the Swedish paying agent are MFEX MUTUAL FUNDS EXCHANGE AB – Grev Turegatan 19 – Box 5378 – 10249 Stockolm.
Entry and exit fees are not taken into account in the past returns. You may consider that those fees may impact the past performance
Entry and exit fees are not taken into account in the past returns. You may consider that those fees may impact the past performance