CPR Invest - Climate Bonds Euro - E EUR - Acc ISIN : LU1902445045
CPR Invest - Climate Bonds Euro - E EUR - Acc
E(C) - LU1902445045
Asset class: Fixed Income
YTD
As of 10/09/2026-1.12%
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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NAV
As of 11/09/2026€106.50
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 11/09/2026€526.14M
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 09/11/2026
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Performance
Change in NAV in base 100
FundCPR Invest - Climate Bonds Euro - E EUR - Acc (6.57% 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.
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Climate Bonds Euro - E EUR - Acc (6.57% 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 08/31/2026
Management commentary
Effective date: 31/08/2026August 2026 was marked by concerns over the evolution of long-term interest rates. The deadlock in negotiations between Iran and the United States, punctuated by sporadic attacks, led to continued volatility in oil prices throughout the month, with Brent crude ending at $89 per barrel. The persistence of high energy prices 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.
The 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, up from 2.8% in June, driven higher by a renewed surge 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%.
Business 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, however, disappointed, with a loss of 23,000 non-farm jobs and significant downward revisions for previous months, even though the unemployment rate fell 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 in this regard 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 stating 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 prepared 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 an ECB rate hike. 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 shorter maturities outperformed, while financials underperformed industrials (with Automobiles 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, resulting in 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.
Position summary:
In August, the fund posted a performance broadly in line with its benchmark, which ended down -0.08%. The overweight in rates weighed on performance, both in absolute terms and relative to the benchmark, while the credit pocket contributed positively. High-beta segments and Corporates in particular supported performance. In terms of management, a few primary operations were carried out, mainly through arbitrage on names already present in the portfolio. Overall, the portfolio allocation remained broadly stable over the month.
The 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, up from 2.8% in June, driven higher by a renewed surge 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%.
Business 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, however, disappointed, with a loss of 23,000 non-farm jobs and significant downward revisions for previous months, even though the unemployment rate fell 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 in this regard 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 stating 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 prepared 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 an ECB rate hike. 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 shorter maturities outperformed, while financials underperformed industrials (with Automobiles 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, resulting in 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.
Position summary:
- Credit sensitivity down from 3.77 to 3.72
- The portfolio shows a slight decrease in interest rate sensitivity from 4.86 to 4.77
- The share of cash, including money market funds, is 4% of assets
In August, the fund posted a performance broadly in line with its benchmark, which ended down -0.08%. The overweight in rates weighed on performance, both in absolute terms and relative to the benchmark, while the credit pocket contributed positively. High-beta segments and Corporates in particular supported performance. In terms of management, a few primary operations were carried out, mainly through arbitrage on names already present in the portfolio. Overall, the portfolio allocation remained broadly stable over 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 | 0.36% of the value of your investment per year. This percentage is based on actual costs over the last year. | €34.20 | |
| Transaction costs | 0.10% 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. | €9.65 | |
| 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. | €3.52 | |
Codification
ISIN code
LU1902445045Bloomberg code
CPRSEEA 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 | 01/09/2026 | |
EN | PDF | 31/07/2025 | |
PDF | 03/08/2026 | ||
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 |