CPR Invest - Climate Bonds Euro - I EUR - Acc ISIN : LU1902444741
CPR Invest - Climate Bonds Euro - I EUR - Acc
I(C) - LU1902444741
Asset class: Fixed Income
YTD
As of 27/08/20260.44%
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 27/08/2026€107.75
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 27/08/2026€539.01M
The Compartment’s objective is to outperform the Bloomberg Barclays Euro-Agg Corporate Total Return index (over any 3-year period,) by selecting bonds denominated in Euro issued by companies around the world committed to limiting impact of climate change. The investment process also integrates Environmental, Social and Governance criteria (E, S, and G – or, when taken together, ESG).
NAVs
NAV from 12/06/2018 to 08/27/2026
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Performance
Change in NAV in base 100
FundCPR Invest - Climate Bonds Euro - I EUR - Acc (7.75% over the period)
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A. During this period the compartment was managed based on a different investment policy than the one currently in force.B. Since the beginning of this period the compartment applies the current investment policy.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Climate Bonds Euro - I EUR - Acc (7.75% over the period)
Select period
A. During this period the compartment was managed based on a different investment policy than the one currently in force.B. Since the beginning of this period the compartment applies the current investment policy.Performance published and achieved before the date of the change corresponds to a different strategy from the current one.
Portfolio Analysis
Repartition 07/31/2026
Management commentary
Effective date: 31/07/2026July 2026 was marked by the end of negotiations and the resumption of hostilities between Iran and the United States. As a result, the price of Brent crude rose sharply in the first part of the month, reaching $100 per barrel, before slightly declining at the very end of the month to $89. Ultimately, its increase was 22% over the month, the largest rise since March. The erratic movement of inflation indices reflects the volatility of oil prices. In the United States, headline inflation surprised significantly to the downside for June, at 3.5%, partly due to lower energy prices that month but also thanks to a clear and broad-based decline in core inflation. Conversely, inflation surprised to the upside in the eurozone in July, at 2.9%, due to the rebound in oil prices.
Overall, business surveys are consistent with a moderate pace of growth. In the eurozone, the composite PMI rose from 50 to 51.9, thanks to an improvement in manufacturing but especially in services, thus returning to its highest level since the outbreak of the war in Iran. Moreover, GDP growth in Q2 came in at +0.4% quarter-on-quarter. In the United States, both the ISM manufacturing and services surveys declined slightly in June (to 53.4 and 54, respectively) but remain consistent with a growth rate of around 2%. The June employment report was not good and cast doubt on the previous three reports, which had been significantly better than expected. In particular, the private sector excluding healthcare returned to job losses. In Japan, PMI surveys remain well oriented with 54.7 for manufacturing and 51.9 for services. China, on the other hand, continues to stand out negatively, with the deterioration in the economic situation worsening over the month, as the composite PMI fell to its lowest level since 2022.
Several major central banks held their monetary policy meetings in July, but none decided to change their interest rate policy. The ECB left its deposit rate unchanged at 2.25% but opened the door to a hike in September, in response to renewed tensions in energy prices. For its part, the Fed did not change its key rates but was satisfied with the rise in bond yields since the previous meeting, in direct reaction to economic developments. Most notably, it confirmed a radical change in its communication regime: it will provide significantly less guidance than in the past. This also implies a regime change for the bond market. The Bank of Japan left its main policy rate at 1% but was quite assertive about a forthcoming tightening.
Bond yields rose sharply over the month, largely due to the rebound in oil prices. Ultimately, 10-year US and German yields climbed by about 30 bps over the month to end at 4.71% and 3.17%, respectively. In this context, 10-year inflation expectations in the eurozone on the 10-year bund€i rose from 1.84% to 2.03% at the end of July. In the United States, 10-year inflation expectations on the 10-year TIPS increased from 2.23% to 2.28% at the end of July.
Despite a context of high volatility, credit demonstrated good resilience. In Europe, spreads remained broadly unchanged over the month. On Euro Investment Grade, the spread stands at 61 bps (ICE BofA Euro Corporate index), just 1 bp above its annual low. However, total IG credit performance was negative in July (-0.97%), mainly penalized by the rise in sovereign yields. The High Yield segment outperformed Investment Grade, benefiting from higher carry and structurally shorter duration. Moreover, euro HY spreads tightened slightly in July, by 10 bps for the ICE BofA Euro BB-B index, to 197 bps. In this context, the total performance of the index came to -0.32%. Sector dispersion remained limited, although telecoms underperformed, penalized by technical factors related to sustained supply and increased competition. The automotive sector remains under pressure, in an environment where investors remain selective on cyclical stocks. The technology and energy sectors also posted weaker performance. Conversely, banks, chemicals, and basic materials were more resilient, benefiting from better relative performance in a market marked by high volatility. Finally, the quarterly earnings season started well, with overall solid results that continue to support a positive outlook for credit. European issuers remain, on the whole, financially disciplined and do not, at this stage, show any marked sign of a return to a re-leveraging cycle.
Position summary:
The fund recorded a slightly larger decline than its benchmark in July (-0.97%). The decrease is mainly attributable to the rise in interest rates, while the credit component contributed positively to the fund’s performance. In terms of management actions, this month we reduced the portfolio’s credit exposure via iTraxx Xover protection (4%) as the deteriorating environment led us to adopt a more cautious approach. Credit beta thus fell from 1.43 to 1.22. We also reduced exposure to tight, subordinated issues. The arbitrages carried out, amounting to about 3%, did not significantly change the sector allocation during the month.
Overall, business surveys are consistent with a moderate pace of growth. In the eurozone, the composite PMI rose from 50 to 51.9, thanks to an improvement in manufacturing but especially in services, thus returning to its highest level since the outbreak of the war in Iran. Moreover, GDP growth in Q2 came in at +0.4% quarter-on-quarter. In the United States, both the ISM manufacturing and services surveys declined slightly in June (to 53.4 and 54, respectively) but remain consistent with a growth rate of around 2%. The June employment report was not good and cast doubt on the previous three reports, which had been significantly better than expected. In particular, the private sector excluding healthcare returned to job losses. In Japan, PMI surveys remain well oriented with 54.7 for manufacturing and 51.9 for services. China, on the other hand, continues to stand out negatively, with the deterioration in the economic situation worsening over the month, as the composite PMI fell to its lowest level since 2022.
Several major central banks held their monetary policy meetings in July, but none decided to change their interest rate policy. The ECB left its deposit rate unchanged at 2.25% but opened the door to a hike in September, in response to renewed tensions in energy prices. For its part, the Fed did not change its key rates but was satisfied with the rise in bond yields since the previous meeting, in direct reaction to economic developments. Most notably, it confirmed a radical change in its communication regime: it will provide significantly less guidance than in the past. This also implies a regime change for the bond market. The Bank of Japan left its main policy rate at 1% but was quite assertive about a forthcoming tightening.
Bond yields rose sharply over the month, largely due to the rebound in oil prices. Ultimately, 10-year US and German yields climbed by about 30 bps over the month to end at 4.71% and 3.17%, respectively. In this context, 10-year inflation expectations in the eurozone on the 10-year bund€i rose from 1.84% to 2.03% at the end of July. In the United States, 10-year inflation expectations on the 10-year TIPS increased from 2.23% to 2.28% at the end of July.
Despite a context of high volatility, credit demonstrated good resilience. In Europe, spreads remained broadly unchanged over the month. On Euro Investment Grade, the spread stands at 61 bps (ICE BofA Euro Corporate index), just 1 bp above its annual low. However, total IG credit performance was negative in July (-0.97%), mainly penalized by the rise in sovereign yields. The High Yield segment outperformed Investment Grade, benefiting from higher carry and structurally shorter duration. Moreover, euro HY spreads tightened slightly in July, by 10 bps for the ICE BofA Euro BB-B index, to 197 bps. In this context, the total performance of the index came to -0.32%. Sector dispersion remained limited, although telecoms underperformed, penalized by technical factors related to sustained supply and increased competition. The automotive sector remains under pressure, in an environment where investors remain selective on cyclical stocks. The technology and energy sectors also posted weaker performance. Conversely, banks, chemicals, and basic materials were more resilient, benefiting from better relative performance in a market marked by high volatility. Finally, the quarterly earnings season started well, with overall solid results that continue to support a positive outlook for credit. European issuers remain, on the whole, financially disciplined and do not, at this stage, show any marked sign of a return to a re-leveraging cycle.
Position summary:
- Credit sensitivity down from 4.00 to 3.77
- The portfolio shows a slightly higher interest rate sensitivity at 4.86
- The share of cash, including money market funds, is 4% of assets
The fund recorded a slightly larger decline than its benchmark in July (-0.97%). The decrease is mainly attributable to the rise in interest rates, while the credit component contributed positively to the fund’s performance. In terms of management actions, this month we reduced the portfolio’s credit exposure via iTraxx Xover protection (4%) as the deteriorating environment led us to adopt a more cautious approach. Credit beta thus fell from 1.43 to 1.22. We also reduced exposure to tight, subordinated issues. The arbitrages carried out, amounting to about 3%, did not significantly change the sector allocation during the month.
Characteristics
General data
Inception date
06/12/2018First Nav Date
06/12/2018Currency
EURShow more
Valuation
DailyMinimum initial investment
100000 eurosMinimum additional investment
1 10/1000° share(s)/equityCosts Composition
| One-off costs upon entry or exit (Investment EUR 10,000) | If you exit after 1 year | ||
| 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 | 0.41% of the value of your investment per year. This percentage is based on actual costs over the last year. | €38.95 | |
| Transaction costs | 0.12% 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. | €11.71 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 20.00% annual outperformance of the reference asset 100% BLOOMBERG EURO AGGREGATE CORPORATE (E) TR 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. | €8.65 | |
Codification
ISIN code
LU1902444741Bloomberg code
CPRSIEA LXReuters code
Investment Objective
The Compartment’s objective is to outperform the Bloomberg Barclays Euro-Agg Corporate Total Return index (over any 3-year period,) by selecting bonds denominated in Euro issued by companies around the world committed to limiting impact of climate change. The investment process also integrates Environmental, Social and Governance criteria (E, S, and G – or, when taken together, ESG).
Documents
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 03/08/2026 | |
EN | PDF | 31/07/2025 | |
PDF | 07/05/2026 | ||
PDF | 31/01/2026 | ||
SV | PDF | 31/12/2025 | |
EN | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 21/05/2025 | |
EN | PDF | 07/05/2026 |