CPR Invest - Global Gold Mines - I USD - Acc ISIN : LU1989766875
CPR Invest - Global Gold Mines - I USD - Acc
I USD(C) - LU1989766875
Asset class: Equities
YTD
As of 02/09/202615.32%
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 11/09/2026$261.36
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 11/09/2026$2.54B
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 10/16/2020 to 09/11/2026
Select period
Performance
Change in NAV in base 100
Returns under control and temporarily unavailable for this fund
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
Returns under control and temporarily unavailable for this fund
Portfolio Analysis
Repartition 08/31/2026
Main Lines in Portfolio (Source: Amundi)Geographical breakdown (Source: Amundi)CurrencySector allocation
Sector | Weight | Spread / Index | |
|---|---|---|---|
| AGNICO EAG MINES-USD | Materials | 8.11% | -1.32% |
| NEWMONT CORP USD | Materials | 6.32% | -6.14% |
| FRANCO NEVADA CORP (USA) | Materials | 5.31% | 0.65% |
| ANGLOGOLD ASHANTI PLC NYSE | Materials | 5.16% | -0.05% |
| WHEATON PRECIOUS METALS CORP | Materials | 5.09% | -1.25% |
| BARRICK MINING CORP | Materials | 3.94% | -3.00% |
| KINROSS GOLD CORP US | Materials | 3.77% | 0.22% |
| GOLD FIELDS LTD-US-ADR | Materials | 3.45% | -0.49% |
| EQUINOX GOLD CORP - USD | Materials | 3.03% | 1.72% |
| PAN AMER SILVER USD | Materials | 3.01% | 0.88% |
Management commentary
Effective date: 31/08/2026Strong rebound in gold prices in August, as US debt soars with total outstanding now exceeding the $40T mark. The announcement by US Treasury Secretary Scott Bessent of a plan to buy back maturities over 10 years for an amount that could approach $1T had the effect of a bombshell, triggering a rally in gold prices to almost $4700/oz. But this was without counting on Fed Chairman Kevin Warsh, who dashed market hopes during his speech at Jackson Hall, insisting on maintaining his 2% inflation target and on the means to achieve it. Despite the pullback during the last week, gold prices ended with a monthly increase of ~9.5% ($)
In this context, investor interest in gold was rekindled and holdings of physically-backed gold ETCs jumped by almost 70 tonnes in August, returning to break-even since the start of the year.
Gold mining companies were not left behind in this environment, surging by more than 30% ($) in August, their best monthly performance since April 2020. The average gold prices expected by consensus for the whole of 2026 remained at $4545/oz, allowing for a stabilization of 12-month earnings expectations in August compared to July. It should be noted that after continued downward revisions, 12-month earnings expectations turned positive from mid-month, and remain up by ~15.5% since the start of the year.
Taking advantage of this momentum, the fund’s performance posted a sharp increase in August, close to that of its benchmark index. The best contributors to performance were the intermediate company Equinox Gold, the developers Novagold Resources and Gogold Resources, and the silver producer Aya Gold & Silver. In addition, the absence of exposure to Chinese companies Zijin and Zhaojin Mining, the Peruvian company Minas Buenaventura, the royalty company Triple Flag, as well as the underweighting of Barrick Mining, were also beneficial. Conversely, the main detractors were the developers Montage Gold, Omai Gold Mines and Skeena Resources, and the junior companies G Mining and Artemis Gold. The underweighting of Newmont Corp and the absence of exposure to Eldorado Gold and SSR Mining were also penalizing
Regarding portfolio management, two stocks exited the portfolio: Rio2 Ltd, which is developing two gold projects, and Bravo Mining, which is developing a platinum project in Brazil. Conversely, the main increases concerned Pan American Silver in silver, the senior companies Agnico Eagle, Newmont Corp and Anglogold Ashanti, the intermediate companies Alamos Gold, Zijin Gold, and the royalty/streaming companies Wheaton Precious Metals and Franco Nevada.
In this context, investor interest in gold was rekindled and holdings of physically-backed gold ETCs jumped by almost 70 tonnes in August, returning to break-even since the start of the year.
Gold mining companies were not left behind in this environment, surging by more than 30% ($) in August, their best monthly performance since April 2020. The average gold prices expected by consensus for the whole of 2026 remained at $4545/oz, allowing for a stabilization of 12-month earnings expectations in August compared to July. It should be noted that after continued downward revisions, 12-month earnings expectations turned positive from mid-month, and remain up by ~15.5% since the start of the year.
Taking advantage of this momentum, the fund’s performance posted a sharp increase in August, close to that of its benchmark index. The best contributors to performance were the intermediate company Equinox Gold, the developers Novagold Resources and Gogold Resources, and the silver producer Aya Gold & Silver. In addition, the absence of exposure to Chinese companies Zijin and Zhaojin Mining, the Peruvian company Minas Buenaventura, the royalty company Triple Flag, as well as the underweighting of Barrick Mining, were also beneficial. Conversely, the main detractors were the developers Montage Gold, Omai Gold Mines and Skeena Resources, and the junior companies G Mining and Artemis Gold. The underweighting of Newmont Corp and the absence of exposure to Eldorado Gold and SSR Mining were also penalizing
Regarding portfolio management, two stocks exited the portfolio: Rio2 Ltd, which is developing two gold projects, and Bravo Mining, which is developing a platinum project in Brazil. Conversely, the main increases concerned Pan American Silver in silver, the senior companies Agnico Eagle, Newmont Corp and Anglogold Ashanti, the intermediate companies Alamos Gold, Zijin Gold, and the royalty/streaming companies Wheaton Precious Metals and Franco Nevada.
Characteristics
General data
Inception date
16/10/2020First Nav Date
17/06/2002Currency
USDShow more
Valuation
DailyMinimum initial investment
100000 eurosMinimum additional investment
1 10/1000° share(s)/equityCosts Composition
| One-off costs upon entry or exit (Investment USD 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 USD 10,000) | |||
| Management fees and other administrative or operating costs | 1.11% of the value of your investment per year. This percentage is based on actual costs over the last year. | $105.83 | |
| Transaction costs | 0.16% 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. | $15.54 | |
| Incidental costs taken under specific conditions (Investment USD 10,000) | |||
| Performance fees | 15.00% annual outperformance of the reference asset 100% NYSE ARCA GOLD MINERS INDEX NR 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. | $0.00 | |
Codification
ISIN code
LU1989766875Bloomberg code
CIGGMIU LXReuters 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
| 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 | 01/01/2025 | |
EN | PDF | 07/05/2026 |