CPR Invest - Social Equities - A EUR - Acc ISIN : LU2036821663
CPR Invest - Social Equities - A EUR - Acc
A EUR(C) - LU2036821663
Asset class: Equities
YTD
As of 27/08/202618.56%
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€176.79
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 28/08/2026$342.23M
The fund’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 social progress and to the reduction of inequalities around the world. The investment process integrates a sustainable approach. In order to define the universe, the Management Company assesses each company on different aspects such as tax policy, wage policy, health & well-being, education, diversity, ethic, …
NAVs
NAV from 12/10/2019 to 08/28/2026
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Performance
Change in NAV in base 100
FundCPR Invest - Social Equities - A EUR - Acc (76.79% 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 - Social Equities - A EUR - Acc (76.79% over the period)
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Portfolio Analysis
Management commentary
Effective date: 31/07/2026In July, global equity markets moved 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 decision 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 a precursor to a peak in its investments in AI infrastructure. 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 positions and AI-related stocks to value and defensive sectors for most of the month, until the publication of Microsoft and Amazon’s results on Thursday, August 30. These releases, which reported not only good profitability from AI infrastructure spending but also strong future demand, marked a true inflection point for the technology sector: initially, the beneficiaries of this spending, notably semiconductors, rebounded sharply; subsequently, cloud providers began to outperform and catch up on their year-to-date lag. Furthermore, the publication of half-year results proved extremely solid (with upward revisions to expected results) and resilient to disruptions related to the Middle East conflict and inflationary pressures. Nevertheless, over the month, the AI theme underperformed via semiconductors and electrification companies, while energy (rising oil prices amid renewed tensions between the US and Iran) and financials (favorable market and economic environment, rising long-term rates) outperformed.
Over the period, the fund declined by 2.3%, underperforming its index by 1.7%. The fund’s relative performance was penalized both by its absence from the energy sector (to the tune of 40 basis points) and by its overexposure to beneficiaries of AI data center construction spending, via the semiconductor segment. Although we took profits and neutralized our exposure to the memory segment, the fund remained slightly overweight in analog chips and semiconductor equipment manufacturers. Above all, we maintained our overexposure to TSMC. Ultimately, our exposure to semiconductors cost us about 90 basis points. We also suffered from the absence of Amazon in the universe and in the fund, to the tune of about twenty basis points. Stock selection in healthcare, with AstraZeneca disappointing on a product development program, also penalized us by about ten basis points. Conversely, we benefited from good stock selection in the industrial goods sector, with strong results from Schneider, Hitachi, Airbus, and Saint-Gobain. Our overweight in Microsoft also brought us more than 40 basis points, following the publication of results showing an acceleration in Azure and their AI Copilot offering, as well as good profitability from their AI investments. During the month, we took advantage of the decline in semiconductors to buy and avoid diluting our position. We also increased our exposure to the MedTech sector, as this segment seemed undervalued given its growth and profitability 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 regarding the profitability of their AI investments, all argue in favor of a market rebound driven by cyclical sectors. We thus increased the portfolio’s equity exposure from about 96% of assets to 99.5% while maintaining our cyclical bias.
In the long term, the adoption of artificial intelligence risks causing job destruction, widening inequalities, and weakening the majority in favor of a minority. In this context, companies with good social practices are essential to support this transition. They promote professional retraining, preserve dignity at work, and contribute to a more equitable distribution of benefits. More than ever, these responsible companies are key to ensuring AI adoption benefits everyone, reconciling technological progress and social justice.
Over the period, the fund declined by 2.3%, underperforming its index by 1.7%. The fund’s relative performance was penalized both by its absence from the energy sector (to the tune of 40 basis points) and by its overexposure to beneficiaries of AI data center construction spending, via the semiconductor segment. Although we took profits and neutralized our exposure to the memory segment, the fund remained slightly overweight in analog chips and semiconductor equipment manufacturers. Above all, we maintained our overexposure to TSMC. Ultimately, our exposure to semiconductors cost us about 90 basis points. We also suffered from the absence of Amazon in the universe and in the fund, to the tune of about twenty basis points. Stock selection in healthcare, with AstraZeneca disappointing on a product development program, also penalized us by about ten basis points. Conversely, we benefited from good stock selection in the industrial goods sector, with strong results from Schneider, Hitachi, Airbus, and Saint-Gobain. Our overweight in Microsoft also brought us more than 40 basis points, following the publication of results showing an acceleration in Azure and their AI Copilot offering, as well as good profitability from their AI investments. During the month, we took advantage of the decline in semiconductors to buy and avoid diluting our position. We also increased our exposure to the MedTech sector, as this segment seemed undervalued given its growth and profitability 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 regarding the profitability of their AI investments, all argue in favor of a market rebound driven by cyclical sectors. We thus increased the portfolio’s equity exposure from about 96% of assets to 99.5% while maintaining our cyclical bias.
In the long term, the adoption of artificial intelligence risks causing job destruction, widening inequalities, and weakening the majority in favor of a minority. In this context, companies with good social practices are essential to support this transition. They promote professional retraining, preserve dignity at work, and contribute to a more equitable distribution of benefits. More than ever, these responsible companies are key to ensuring AI adoption benefits everyone, reconciling technological progress and social justice.
Characteristics
General data
Inception date
10/12/2019First Nav Date
10/12/2019Currency
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. | €185.44 | |
| Transaction costs | 0.36% 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. | €34.58 | |
| 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
LU2036821663Bloomberg code
CPSIAEA LXReuters code
Investment Objective
The fund’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 social progress and to the reduction of inequalities around the world. The investment process integrates a sustainable approach. In order to define the universe, the Management Company assesses each company on different aspects such as tax policy, wage policy, health & well-being, education, diversity, ethic, …
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 | 31/12/2024 | |
EN | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 21/05/2025 | |
EN | PDF | 07/05/2026 |