Fund database › Private Credit
AXA IM AltsFR001400RYD7Class A Capitalisation
AXA Financement Entreprises finances European companies across the full credit spectrum from senior to mezzanine — as a French special fund with ELTIF 2 authorisation, launched in 2024, with a permanently high liquidity reserve.
Semi-monthly subscription and redemption with short notice — one of the densest dealing rhythms in the field; a rolling limit based on the liquid assets and a discretionary gate contain large outflows. No minimum holding period.
Subscription from EUR 75,000 — in practice almost exclusively through French unit-linked insurance products; not registered for distribution in Germany.
France's answer to the Luxembourg credit evergreens: more dealing dates and more built-in liquidity than the ELTIF standard, but firmly embedded in the assurance-vie world — currently with no access route for German portfolios.
Figures for class A Capitalisation (FR001400RYD7) · product data 19 Aug 2026 · sources: prospectus (as at 16 Apr 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Nov 2024, the unit price has gained 5.7% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
21 monthly values, 20 derived from monthly returns · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Oct 2024; a reliable NAV series of the class is available from Nov 2024.
What the prospectus permits: Direct and indirect investments in non-bank loans to private companies; immediate exposure to an existing diversified loan pool
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
What is actually held: breakdown by sector and region according to the provider.
Focus according to fund documents: Diversified, no sector breakdown 100%
Focus according to fund documents: Europe 100%
Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.45%, class A Capitalisation is well below the median of the asset class (2.05%). There is no performance fee.
For 75,000 EUR this means roughly 1,088 EUR per year; the cheapest class with a cost figure is B Capitalisation (1.25%, from 75,000 EUR).
For 75,000 EUR, a one-off up to 750 EUR on purchase.
Based on the PRIIPs key information document of class A Capitalisation, hence comparable across providers. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.
Units can be subscribed fortnightly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 7 business days later.
Price = NAV per share on this day.
NAV as at the 15th and the last calendar day; publication by the 7th business day …
after NAV publication: 9 business days after cut-off
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | fortnightly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | 15th and month-end |
| Cut-off | 1 business day before NAV day · 11:00 Paris · (before the anchor date) |
| Price | next NAV after centralisation |
| NAV publication | NAV as at the 15th and the last calendar day; publication by the 7th business day thereafter at the latest |
| Payment | after NAV publication: 9 business days after cut-off |
| Minimum investment | 75,000 EUR |
| Entry charge (max.) | 1% (Fund) |
| Revocation | irrevocable from subscription |
| Business day | Jour Ouvre = working day other than Saturday, Sunday and statutory/non-working public holidays in France (p. 20) |
Dates calculated from the prospectus rules (bank holidays: FR); only the transfer agent’s confirmation is binding. Data as at 19 Aug 2026 · Documents: 08.
Units can be redeemed fortnightly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
redemptions at the unknown next NAV; payment normally 9 business days, maximum 6 calendar months.
Price = NAV per share on this day.
Two-tier: (1) permanent ELTIF redemption limit of 20% of the amount of the liquid assets per rolling month …
redemption day
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Money typically within a month — on average 22 days from decision to cash.
Rank 3 of 112 · rank 2 of 31 in Private Credit · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 16 Apr 2026 · score run 16 Oct 2026 · How 22 days become 77 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | fortnightly |
| Valuation day | 15th and month-end |
| Notice | 1 business day before NAV day · 11:00 Paris |
| Price | next NAV after centralisation |
| Payout | 9 business days after redemption day |
| Gate | 20% of available liquidity per month; additional gates: 6% of net assets per rolling 3 months, 10% per rolling year; minimum ratio 25% liquid assets |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | 0% |
| Lock-up | none |
| Suspension | exceptional circumstances, investor/public interest, legal/tax disadvantages |
| Liquidity tools | Pourcentage Maximal de Rachats (20% liquid assets), gates, suspension, swing pricing, redemption fee, preavis notice period |
| Switch / transfer | possible with the consent of the SdG (30 business days notice period, affiliates exempt); no organised market |
| Compulsory redemption | in the case of US investors and legal/regulatory/tax problem situations; payment as soon as liquidity is available |
Two-tier: (1) permanent ELTIF redemption limit of 20% of the amount of the liquid assets per rolling month with pro-rata allocation; requests not satisfied lapse. (2) Discretionary plafonnement (Gate) where redemption requests amount to at least 6% of net assets over three rolling months or 10% over a rolling year.
The redemption limit under the management regulations is defined not as a NAV ratio but as 20% of the liquid assets per rolling month; in addition, the management company may activate a discretionary plafonnement (gate), whose trigger thresholds are set at 6% of net assets over three rolling months and 10% over a rolling year.
Dates calculated from the prospectus rules (bank holidays: FR); only the transfer agent’s confirmation is binding. Data as at 19 Aug 2026 · Documents: 08.
5 classes. All cost and risk figures on this page refer to the basis class A Capitalisation; the cheapest class with a cost figure is B Capitalisation (1.25%, from 75,000 EUR).
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 16 Apr 2026 | — |
| NAV series secondary source (data portal) | 31 Jul 2026 | Performance (01) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption semi-monthly, notice period 1 business day before NAV day, with 20% gate per month. Subscribing today, it takes on average 22 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 1.45% p.a. according to the PRIIPs KID for class A Capitalisation; the median of the Private Credit funds in this database is 2.05%; no performance fee.
75,000 EUR in class A Capitalisation.
No. According to our evidence, the fund cannot currently be subscribed in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the AXA Financement Entreprises. Under the prospectus a gate of 20% per month applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.