CPR Invest - Future Cities - A EUR - Acc ISIN : LU1989763773
CPR Invest - Future Cities - A EUR - Acc
A(C) - LU1989763773
Asset class: Equities
YTD
As of 28/08/202612.07%
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 28/08/2026€172.18
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 28/08/2026$41.12M
The Compartment's objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in international equities which contribute to urbanisation and sustainable development of cities, while integrating Environmental, Social and Governance (E, S, and G - or, when taken together, ESG) criteria in the investment process.
NAVs
NAV from 09/17/2019 to 08/28/2026
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Performance
Change in NAV in base 100
FundCPR Invest - Future Cities - A EUR - Acc (72.18% over the period)
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Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Future Cities - A EUR - Acc (72.18% over the period)
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Portfolio Analysis
Management commentary
Effective date: 31/07/2026In July, global equity markets evolved in a more volatile environment, marked by escalating tensions between the United States and Iran, with second-round effects on energy prices, inflation expectations, and market sentiment. The Fed’s new communication policy, namely its willingness to no longer provide forward guidance, also slightly fueled volatility. At the same time, the AI theme underwent a significant adjustment, as valuation levels and positioning reached extreme levels. Even minor negative news, with low impact, triggered profit-taking. The market was particularly concerned to see Alphabet’s free cash flow generation turn negative; this news was interpreted as an early sign of a peak in its AI infrastructure investments. The emergence of a Chinese equipment manufacturer capable of producing DUV semiconductor manufacturing machines also fueled concerns about upcoming semiconductor overproduction. These factors drove a rotation from momentum and AI-related stocks to value and defensive sectors for most of the month, until the release of Microsoft and Amazon’s results on Thursday, August 30. These reports, which showed not only good profitability from AI infrastructure spending but also continued strong demand, marked a real turning point for the technology sector: initially, the beneficiaries of this spending, particularly semiconductors, rebounded sharply; subsequently, cloud providers began to outperform and catch up on their year-to-date lag. Furthermore, half-year earnings releases proved extremely strong (with upward revisions to expected results) and resilient in the face of disruptions related to the Middle East conflict and inflationary pressures. Nevertheless, over the month, the AI theme underperformed through semiconductors and electrification companies, while energy (rising oil prices amid renewed US-Iran tensions) and financials (favorable market and economic environment, rising long-term rates) outperformed.
Over the period, the fund declined by 1.3%, underperforming its benchmark by 0.8%. The fund’s relative performance was penalized both by its absence from the energy sector (costing 40 basis points) and from financials (costing 80 basis points). We were also penalized by stock selection in the industrial sector: profit-taking on Caterpillar and Prysmian failed to offset the strong performances of Hitachi, Schneider, and Saint Gobain, for which expectations were low and which reported good results. We held up well during the semiconductor sell-off thanks to our underexposure to the memory and semiconductor equipment segments, as well as the strong resilience of Broadcom and Nvidia, which are our main positions in the sector. Ultimately, we offset our overweight in the sector with good stock selection, so the effect was neutral for the fund compared to the MSCI AC World index. In the rest of the technology sector, we benefited from Microsoft’s rebound following results showing an acceleration in Azure and their AI Copilot offering. We also benefited from Autodesk’s very strong results, which outperformed thanks to the anticipation of solid results, supported by resilient demand in infrastructure and construction. Finally, in consumer discretionary, Amazon contributed 26 basis points following results showing an acceleration in AWS and AI growth, while BYD (+29%) reassured on its international growth prospects.
More constructive discussions between Iran and the United States, macroeconomic indicators that remain solid, earnings releases above expectations accompanied by more favorable outlooks, and the reassuring statements from Microsoft and Amazon on the profitability of their AI investments, all argue in favor of a market rebound driven by cyclical sectors. We are therefore maintaining the portfolio’s cyclical bias.
Over the period, the fund declined by 1.3%, underperforming its benchmark by 0.8%. The fund’s relative performance was penalized both by its absence from the energy sector (costing 40 basis points) and from financials (costing 80 basis points). We were also penalized by stock selection in the industrial sector: profit-taking on Caterpillar and Prysmian failed to offset the strong performances of Hitachi, Schneider, and Saint Gobain, for which expectations were low and which reported good results. We held up well during the semiconductor sell-off thanks to our underexposure to the memory and semiconductor equipment segments, as well as the strong resilience of Broadcom and Nvidia, which are our main positions in the sector. Ultimately, we offset our overweight in the sector with good stock selection, so the effect was neutral for the fund compared to the MSCI AC World index. In the rest of the technology sector, we benefited from Microsoft’s rebound following results showing an acceleration in Azure and their AI Copilot offering. We also benefited from Autodesk’s very strong results, which outperformed thanks to the anticipation of solid results, supported by resilient demand in infrastructure and construction. Finally, in consumer discretionary, Amazon contributed 26 basis points following results showing an acceleration in AWS and AI growth, while BYD (+29%) reassured on its international growth prospects.
More constructive discussions between Iran and the United States, macroeconomic indicators that remain solid, earnings releases above expectations accompanied by more favorable outlooks, and the reassuring statements from Microsoft and Amazon on the profitability of their AI investments, all argue in favor of a market rebound driven by cyclical sectors. We are therefore maintaining the portfolio’s cyclical bias.
Characteristics
General data
Inception date
17/09/2019First Nav Date
17/09/2019Currency
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 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 | 1.95% of the value of your investment per year. This percentage is based on actual costs over the last year. | €185.35 | |
| Transaction costs | 0.14% 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. | €13.28 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 15.00% annual outperformance of the reference asset 15% of the difference between the net assets of the Share Class and the Reference Asset. Performance indicator : MSCI All Country World Index (MSCI ACWI) Net Return Index. 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
LU1989763773Bloomberg code
Reuters code
Investment Objective
The Compartment's objective is to outperform global equity markets over a long-term period (minimum of five years) by investing in international equities which contribute to urbanisation and sustainable development of cities, 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 | 18/12/2025 | |
EN | PDF | 31/07/2025 | |
PDF | 07/05/2026 | ||
PDF | 31/01/2026 | ||
SV | PDF | 31/07/2026 | |
EN | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 18/12/2025 | |
EN | PDF | 07/05/2026 |