CPR Invest - Artificial Intelligence - I EUR - Acc ISIN : LU2860962476
CPR Invest - Artificial Intelligence - I EUR - Acc
I EUR(C) - LU2860962476
Asset class: Equities
YTD
As of 22/10/202629.46%
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.
1234567
Lower Risk
Higher Risk
The risk indicator assumes you keep the product according to the holding period.
NAV
As of 22/10/2026€149.65
SFDR ClassificationSustainable Finance Disclosure Regulation
Art. 8
Fund AUM
As of 22/10/2026$341.82M
The investment objective is to outperform the MSCI ACWI IMI Artificial Intelligence Select Issuer Capped index over a long-term period (minimum of five years) by investing in international equities that contribute to or benefit from the development of artificial intelligence while integrating Environmental, Social and Governance (E, S, and G) criteria in the investment process.
NAVs
NAV from 10/10/2024 to 22/10/2026
Select period
Performance
Change in NAV in base 100
FundCPR Invest - Artificial Intelligence - I EUR - Acc (49.65% over the period)
Select period
Change in NAV in base 100Rolling performancesYear-on-year return (365 days)Annual returnsRisk indicatorsPerformances Scenarios
FundCPR Invest - Artificial Intelligence - I EUR - Acc (49.65% over the period)
Select period
Portfolio Analysis
Management commentary
Effective date: 30/09/2026September 2026 was marked by the return of major central banks to monetary tightening: within the span of a week, the ECB, the Fed, and the BoJ all raised their key interest rates by 25 bps, which is a first for these three central banks in the same month. This move occurred in a context of high energy prices. Indeed, the conflict between Iran and the United States intensified again at the beginning of the month, with attacks on both sides against ships near the Strait of Hormuz. The Brent barrel thus crossed the $100 mark again on September 9, for the first time since July, before slightly retreating to end the month up 16% at $104. It should be noted that both sides seem to have initiated discussions regarding a possible agreement.
The inflation indices published in September, covering the month of August, confirmed the divergence between the two sides of the Atlantic. In the eurozone, headline inflation accelerated sharply to 3.2% from 2.9% in July, its highest level since September 2023, driven by a renewed acceleration in the energy component (+14.3% year-on-year). However, core inflation slightly slowed to 2.4%. In the United States, headline inflation (CPI) remained stable at 3.4% year-on-year, while core inflation fell to 2.4%, its lowest level since March 2021. Finally, August’s “core PCE” inflation came in at 3%, well below expectations, partly thanks to methodological revisions.
Activity indicators once again demonstrated the resilience of developed economies in the face of high energy prices. In the United States, the August employment report was a significant upside surprise, with 162,000 non-farm jobs created versus 53,000 expected and upward revisions for previous months, while the unemployment rate remained stable at 4.1%. GDP growth in Q2 was also strongly revised upwards, to 2.2% quarter-on-quarter annualized versus 1.5% previously. Similarly, the strength of the September PMI surveys (58.4 for the United States) made an impression and was interpreted as a sign that US growth was stronger than expected. In the eurozone, the composite PMI rose for the fourth consecutive month, to 53.1 in September, its highest level since April 2023, notably with France returning to expansion territory for the first time in ten months. Meanwhile, China continues to stand out, as retail sales grew by only 0.4% year-on-year in August and investment continued to contract (-7.2% over the first eight months of the year), while industrial production remains resilient at 5.2%—but mainly driven by the technology sector and exports.
The ECB raised its key interest rates by 25 bps on September 10, increasing for the second time in three months, with the deposit rate brought to 2.50%. The Governing Council justified its decision by stating that inflation is expected to remain sustainably above the 2% target. On September 16, the Fed unanimously raised the fed funds target range by 25 bps, to 3.75/4%, marking its first rate hike since 2023. Kevin Warsh presented this decision as the “removal of a dose of accommodation” rather than a tightening, while once again emphasizing that he did not intend to provide guidance on future actions. The “dots,” i.e., the FOMC members’ projections for key interest rates, indicate another rate hike by the end of the year. Finally, the BoJ raised its main policy rate by 25 bps, to 1.25%, its highest level since 1995.
As a result, bond yields rose sharply over the month, due to the combined effect of rising oil prices and monetary tightening. The US 10-year yield gained about 50 bps over the month, ending around 5.28%, its highest level since 2007, while the 30-year yield exceeded 5.60%, a high since 2002. The German 10-year yield rose by about 25 bps, to 3.55%, after reaching its highest level since 2009. In Japan, the 10-year yield crossed the 3% mark for the first time since 1996, ending the month at 3.02%. Finally, gold was penalized by the rise in real rates and lost about 6% over the month, erasing much of its August gains.
Equity markets paused in September, penalized by the rise in long-term rates. The S&P 500 ended the month roughly unchanged (about -0.8%), while the financial sector significantly underperformed (-7.3% for the month, its worst monthly performance since March 2023). The Eurostoxx 600 fell by 2.5%, marking its first monthly decline in six months. The Nikkei rose by 0.7% over the month, but recorded its first quarterly decline since early 2025. Finally, the MSCI Emerging edged down slightly (-0.8%), notably penalized by the Korean and Chinese markets.
Over the month, the fund slightly outperformed its benchmark index. The technology sector clearly outperformed the rest of the sectors. The software segment contributed positively to performance, supported by an underweight in the sector and good stock selection, despite MongoDB’s underperformance at the end of the month following the announcement of its CEO’s resignation the day before the investor day. Hardware also performed strongly, driven both by optics, with Lumentum, and by assemblers, notably Celestica (+23%) and HPE (+25%). Within semiconductors, the selection effect was slightly negative, mainly due to our underweight in Intel. Nevertheless, the contribution of stocks exposed to CPUs to the monthly performance was very significant: AMD and Intel rose by an average of 35%, supported by the acceleration of the personal AI agent theme, notably illustrated by Meta Muse. Among adopters, companies in the consumer sector underperformed. The rise in interest rates, combined with questions about the disintermediation of the customer journey by agentic AI, maintained a high level of uncertainty.
In terms of movements, we took profits in software, particularly on themes related to agentic AI and cybersecurity, in order to redeploy capital towards Microsoft.
The inflation indices published in September, covering the month of August, confirmed the divergence between the two sides of the Atlantic. In the eurozone, headline inflation accelerated sharply to 3.2% from 2.9% in July, its highest level since September 2023, driven by a renewed acceleration in the energy component (+14.3% year-on-year). However, core inflation slightly slowed to 2.4%. In the United States, headline inflation (CPI) remained stable at 3.4% year-on-year, while core inflation fell to 2.4%, its lowest level since March 2021. Finally, August’s “core PCE” inflation came in at 3%, well below expectations, partly thanks to methodological revisions.
Activity indicators once again demonstrated the resilience of developed economies in the face of high energy prices. In the United States, the August employment report was a significant upside surprise, with 162,000 non-farm jobs created versus 53,000 expected and upward revisions for previous months, while the unemployment rate remained stable at 4.1%. GDP growth in Q2 was also strongly revised upwards, to 2.2% quarter-on-quarter annualized versus 1.5% previously. Similarly, the strength of the September PMI surveys (58.4 for the United States) made an impression and was interpreted as a sign that US growth was stronger than expected. In the eurozone, the composite PMI rose for the fourth consecutive month, to 53.1 in September, its highest level since April 2023, notably with France returning to expansion territory for the first time in ten months. Meanwhile, China continues to stand out, as retail sales grew by only 0.4% year-on-year in August and investment continued to contract (-7.2% over the first eight months of the year), while industrial production remains resilient at 5.2%—but mainly driven by the technology sector and exports.
The ECB raised its key interest rates by 25 bps on September 10, increasing for the second time in three months, with the deposit rate brought to 2.50%. The Governing Council justified its decision by stating that inflation is expected to remain sustainably above the 2% target. On September 16, the Fed unanimously raised the fed funds target range by 25 bps, to 3.75/4%, marking its first rate hike since 2023. Kevin Warsh presented this decision as the “removal of a dose of accommodation” rather than a tightening, while once again emphasizing that he did not intend to provide guidance on future actions. The “dots,” i.e., the FOMC members’ projections for key interest rates, indicate another rate hike by the end of the year. Finally, the BoJ raised its main policy rate by 25 bps, to 1.25%, its highest level since 1995.
As a result, bond yields rose sharply over the month, due to the combined effect of rising oil prices and monetary tightening. The US 10-year yield gained about 50 bps over the month, ending around 5.28%, its highest level since 2007, while the 30-year yield exceeded 5.60%, a high since 2002. The German 10-year yield rose by about 25 bps, to 3.55%, after reaching its highest level since 2009. In Japan, the 10-year yield crossed the 3% mark for the first time since 1996, ending the month at 3.02%. Finally, gold was penalized by the rise in real rates and lost about 6% over the month, erasing much of its August gains.
Equity markets paused in September, penalized by the rise in long-term rates. The S&P 500 ended the month roughly unchanged (about -0.8%), while the financial sector significantly underperformed (-7.3% for the month, its worst monthly performance since March 2023). The Eurostoxx 600 fell by 2.5%, marking its first monthly decline in six months. The Nikkei rose by 0.7% over the month, but recorded its first quarterly decline since early 2025. Finally, the MSCI Emerging edged down slightly (-0.8%), notably penalized by the Korean and Chinese markets.
Over the month, the fund slightly outperformed its benchmark index. The technology sector clearly outperformed the rest of the sectors. The software segment contributed positively to performance, supported by an underweight in the sector and good stock selection, despite MongoDB’s underperformance at the end of the month following the announcement of its CEO’s resignation the day before the investor day. Hardware also performed strongly, driven both by optics, with Lumentum, and by assemblers, notably Celestica (+23%) and HPE (+25%). Within semiconductors, the selection effect was slightly negative, mainly due to our underweight in Intel. Nevertheless, the contribution of stocks exposed to CPUs to the monthly performance was very significant: AMD and Intel rose by an average of 35%, supported by the acceleration of the personal AI agent theme, notably illustrated by Meta Muse. Among adopters, companies in the consumer sector underperformed. The rise in interest rates, combined with questions about the disintermediation of the customer journey by agentic AI, maintained a high level of uncertainty.
In terms of movements, we took profits in software, particularly on themes related to agentic AI and cybersecurity, in order to redeploy capital towards Microsoft.
Characteristics
General data
Inception date
10/10/2024First Nav Date
10/10/2024Currency
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. | €91.49 | |
| Transaction costs | 0.43% 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. | €40.68 | |
| Incidental costs taken under specific conditions (Investment EUR 10,000) | |||
| Performance fees | 15.00% annual outperformance of the reference asset 100% MSCI ACWI IMI ARTIFICIAL INTELLIGENCE SELECT ISSUER CAPPED 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
LU2860962476Bloomberg code
CIAIIEA LXReuters code
Investment Objective
The investment objective is to outperform the MSCI ACWI IMI Artificial Intelligence Select Issuer Capped index over a long-term period (minimum of five years) by investing in international equities that contribute to or benefit from the development of artificial intelligence while integrating Environmental, Social and Governance (E, S, and G) criteria in the investment process.
Documents
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 01/09/2026 | |
EN | PDF | 31/07/2025 | |
PDF | 01/10/2026 | ||
PDF | 31/01/2026 | ||
EN | PDF | 26/10/2016 |
Sustainability-related disclosures
| Language | Documents | Type | Closing Date |
|---|---|---|---|
SV | PDF | 01/01/2025 | |
EN | PDF | 03/08/2026 |