CPR Invest - Social Equities - I EUR - Acc ISIN : LU2036822042
CPR Invest - Social Equities - I EUR - Acc
I EUR(C) - LU2036822042
Asset class: Equities
YTD
As of 11/09/202617.12%
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€184.55
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 11/09/2026$329.66M
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 09/11/2026
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Performance
Change in NAV in base 100
FundCPR Invest - Social Equities - I EUR - Acc (84.55% 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 - I EUR - Acc (84.55% over the period)
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Portfolio Analysis
Management commentary
Effective date: 31/08/2026Global equity markets returned to a positive dynamic in August, supported by the quality of second-quarter earnings releases and by activity indicators that remained generally resilient. However, the geopolitical context remained volatile: the alternation of signs of easing and new episodes of tension in the US-Iran conflict did not allow for a lasting solution, maintaining a high risk premium on oil and, even more so, on refined products. These energy tensions, combined with persistent inflation, the scale of public financing needs, and questions about the sustainability of fiscal trajectories, kept pressure on long-term rates. This pressure was particularly pronounced in Europe and Japan, while US rates experienced significant volatility before ending the month close to their end-July levels. In this environment, the materials and energy sectors benefited from the rise in commodities, while the segments most sensitive to rates, notably real estate and utilities, suffered more. Technology nevertheless outperformed thanks to strong results and upward earnings revisions. Within the sector, the month was marked by a pronounced rotation in favor of software. After their sharp correction in July, semiconductors rebounded, still supported by strong investment in artificial intelligence infrastructure, but their gains remained well below those of software. The releases indeed confirmed the resilience of demand, as well as the first tangible effects of AI monetization in certain segments such as data and cybersecurity.
In this context, the fund rose by +1.97% over the month, compared to +1.69% for the benchmark index, representing an outperformance of +0.28%. This outperformance is notably explained by the absence of Alphabet and the strong rise of Publicis (+9%, following its excellent results published in July) within the communication services sector, as well as by the underweighting of the consumer discretionary sector, notably through the absence of Amazon. We also remain on the sidelines of the luxury sector, for lack of a catalyst, despite historically attractive valuations. The fund’s technology stocks slightly outperformed those in the index: the rebound in software, with Palo Alto Networks, ServiceNow, and Salesforce, offset the more mixed relative performance of our semiconductor holdings. Within memory stocks, we thus suffered from the strong outperformance of Micron compared to SK Hynix and Samsung. The absence of the energy sector, for ESG reasons, had a marginal impact on the fund’s relative performance.
During the month, we reduced our exposure to France by about 2.5%, notably through the sale of Orange. Nevertheless, we remain overweight in the region, which continues to offer interesting idiosyncratic investment ideas. We also took some profits on Equinix, Palo Alto Networks, Schneider Electric, and certain banks, which allowed us to temporarily rebuild the cash pocket. Conversely, we increased our position in Infineon on a pullback and initiated a position in Delta Electronics, two stocks that seem well positioned to capture opportunities related to the migration to 800 VDC in data centers. KPN was also slightly increased as part of a selective reallocation within the telecom sector.
We believe we are entering a new phase in the AI-related infrastructure spending cycle, characterized by still very strong demand but increasingly dependent on market financing (capital increases and debt issuance), while supply is adjusting upwards through supplier diversification and the establishment of new capacities. Furthermore, the market environment seems more fragile to us, between the prolongation of the conflict in Iran, concerns related to budgetary spending, and the rise in long-term rates. In this context, we maintain a cautious approach, focused on stock selection, without major rotation. Our convictions remain strong on data center-related infrastructure, while recognizing that we are entering a phase of uncertainty in the AI value chain, between high industrial visibility and persistent uncertainties regarding financing and the US political context, with growing opposition to the granting of permits for the construction of new data centers. In this environment, we favor stocks offering opportunities that go beyond the simple continuation of the cycle, while maintaining our ESG discipline, which structurally excludes the energy sector.
In this context, the fund rose by +1.97% over the month, compared to +1.69% for the benchmark index, representing an outperformance of +0.28%. This outperformance is notably explained by the absence of Alphabet and the strong rise of Publicis (+9%, following its excellent results published in July) within the communication services sector, as well as by the underweighting of the consumer discretionary sector, notably through the absence of Amazon. We also remain on the sidelines of the luxury sector, for lack of a catalyst, despite historically attractive valuations. The fund’s technology stocks slightly outperformed those in the index: the rebound in software, with Palo Alto Networks, ServiceNow, and Salesforce, offset the more mixed relative performance of our semiconductor holdings. Within memory stocks, we thus suffered from the strong outperformance of Micron compared to SK Hynix and Samsung. The absence of the energy sector, for ESG reasons, had a marginal impact on the fund’s relative performance.
During the month, we reduced our exposure to France by about 2.5%, notably through the sale of Orange. Nevertheless, we remain overweight in the region, which continues to offer interesting idiosyncratic investment ideas. We also took some profits on Equinix, Palo Alto Networks, Schneider Electric, and certain banks, which allowed us to temporarily rebuild the cash pocket. Conversely, we increased our position in Infineon on a pullback and initiated a position in Delta Electronics, two stocks that seem well positioned to capture opportunities related to the migration to 800 VDC in data centers. KPN was also slightly increased as part of a selective reallocation within the telecom sector.
We believe we are entering a new phase in the AI-related infrastructure spending cycle, characterized by still very strong demand but increasingly dependent on market financing (capital increases and debt issuance), while supply is adjusting upwards through supplier diversification and the establishment of new capacities. Furthermore, the market environment seems more fragile to us, between the prolongation of the conflict in Iran, concerns related to budgetary spending, and the rise in long-term rates. In this context, we maintain a cautious approach, focused on stock selection, without major rotation. Our convictions remain strong on data center-related infrastructure, while recognizing that we are entering a phase of uncertainty in the AI value chain, between high industrial visibility and persistent uncertainties regarding financing and the US political context, with growing opposition to the granting of permits for the construction of new data centers. In this environment, we favor stocks offering opportunities that go beyond the simple continuation of the cycle, while maintaining our ESG discipline, which structurally excludes the energy sector.
Characteristics
General data
Inception date
10/12/2019First Nav Date
10/12/2019Currency
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 | 0.96% of the value of your investment per year. This percentage is based on actual costs over the last year. | €91.39 | |
| Transaction costs | 0.33% 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. | €31.60 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 15.00% annual outperformance of the reference asset 100% MSCI ACWI 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
LU2036822042Bloomberg code
CPSIIEA 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 | 01/09/2026 | |
EN | PDF | 31/07/2025 | |
PDF | 03/08/2026 | ||
PDF | 31/01/2026 | ||
SV | PDF | 31/08/2026 | |
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 |