Fund databaseMulti-Asset

Deutsche Bank Private Markets SICAV – Diversified SAA Fund

DWS / Deutsche Bank · LU3085135567

ELTIF 2.0 Multi-Asset Luxembourg Article 6 14 share classes ↓ Primaries / Target Funds

NAV · 26 Aug 2026102.55 EUR
Fund currencyEUR
Income treatmentaccumulating
Performance since Nov 2025+2.5%Class LC EUR
Ongoing costs2.08% p.a.
Min. investment
Redemptionquarterly
Risk (SRI)4 / 7

01Performance

Unit price (NAV) in EUR · share class LC EUR · 25 data points

102.55 EURNAV as at 26 Aug 2026
100100.8101.6102.4Nov 2025Jan 2026Apr 2026Jun 2026Aug 2026
Source: Price feed from the management company 7 of 25 values derived (back-calculated from monthly returns)
YTD+2.7%
since Nov 2025+2.5%

Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and the trading costs of reinvestment are not taken into account. Past performance is not a reliable indicator of future results.

Provider figures

These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.

Target return per the provider: KID moderate scenario 7.9 % p.a. (5 years)

Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.

02Strategy & portfolio

What the fund does and how the portfolio is put together.

Launch year2025
Fund sizeEUR 334mas at 31 Dec 2025 (annual report)
CurrencyEUR
Income treatmentaccumulating
SFDRArticle 6
Recommended holding5 yrs
Liquidity buffer55.00%
Leverage limit50.00%

Risk indicator 4 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.

Portfolio breakdown

Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.

Sector breakdown

No breakdown published. Only an asset-class split is documented, not a sector breakdown.

Geographic breakdown

Approximation (qualitative)% of NAVas at 21 Aug 2026

Global, not broken downThe provider reports the portfolio as a single position — no finer breakdown is published.
Source: Fondsdokumente des Anbieters (KID/Prospekt/Präsentation), qualitative Angabe ohne Prozentwerte — Belegzitate in den Spalten 'Text: Sektorfokus' und 'Text: Regionenfokus'

Strategy

Primaries / Target Funds

Direct investments and primaries

03Costs

The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.

Management fee1.78%
Total ongoing costs2.08%
Entry charge max.5.00%
Redemption fee0.00%
Performance fee15.00%
Hurdle ratenot documented
High-water markyes

In context: ongoing costs

This fund
2.08%
Median Multi-Asset
2.19%

Median across 14 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.

How the performance fee works

According to the KID: the basis of measurement is the POSITIVE PERFORMANCE OF THE SHARE CLASS (share-class level, whole-fund/equalisation approach on a NAV basis, i.e. total return including unrealised gains), not per sleeve/asset class. Two cumulative criteria are expressly named: 'hurdle rate and high water mark (HWM), as defined in the prospectus'. The LEVEL of the hurdle rate, hard/soft, the catch-up percentage, the HWM reset rule and the crystallisation cycle are NOT quantified in the KID and are set out in Special Section 21 of the prospectus, which was machine-readable via the download source only up to the definitions part = to that extent not documented. The prospectus defines 'performance fee' as remuneration that is 'potentially paid to the AIFM, the relevant portfolio manager, the relevant investment adviser or another third party' – i.e. it may also flow to Partners Group as portfolio manager. The KID cost estimate is based on the 5-year average performance of the proxy 'Partners Fund Trust E (EUR)', GG00BLG33W27

Costs per the key information document

PRIIPs KID class LC, as at 10 Sep 2025: management fees and other administrative/operating costs 1.98 % p.a. (EUR 198); transaction costs 0.10 % p.a. (EUR 10); performance fee cost impact EUR 111 in year 1 (≈ 1.11 %). Total costs EUR 819 (1 year) and EUR 2,235 (5 years) respectively. Annual total cost impact (reduction in yield): 8.2 % on exit after 1 year, 4.2 % p.a. on exit after 5 years. KID worked example: 11.4 % before costs vs 7.9 % after costs. Comparison LC5000: 1.58 % + 0.1 % + EUR 117 performance fee, RIY 7.9 % (1 yr) / 3.9 % p.a. (5 yrs)

04Subscription & entry

How you get into the fund, and on what terms.

Subscriptionmonthly
Minimum investmentnot documented
Entry chargeup to 5.00%
Rec. holding period5 years

Subscription per the document

monthly

05Redemption & liquidity

Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.

Units can be redeemed quarterly; notice must be given 360 days before the date; on each date the fund redeems at most 7.5 % of fund assets; for the first 36 months after subscription no redemption is possible.

1 · Lock-up36 months from subscription
2 · Notice period360 days before the date
3 · Redemption datequarterly
4 · Gatemax. 7.5 % per date
5 · Payoutnot documented

The gate caps redemptions at 7.5 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.

Redemption per the document

quarterly

Gate per the document

not documented

Notice period

365 days

Lock-up

36 months

Liquidity score: 3.2 of 5

Redemption frequency
3 / 5 · 40 %
Gate / redemption cap
4 / 5 · 25 %
Notice period
1 / 5 · 20 %
Redemption fee
5 / 5 · 15 %

The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.

06Share classes

14 classes known. All cost and risk figures on this page apply to LU3085135567.

ISINStatusMin. investmentOngoing costsSRI
LU3085135567basis of this pagenot documented2.08%4/7
LU3085135211documentednot documented1.88%not documented
LU3085135302documentedEUR 500,0001.68%not documented
+ 11 more share classes
ISINStatusMin. investmentOngoing costsSRI
LU3085135484documentedEUR 5m1.48%not documented
LU3085135641documentedEUR 500,0001.88%not documented
LU3085135724documentedEUR 5m1.68%not documented
LU3085135997documentednot documented1.18%not documented
LU3148133328documentednot documentednot documentednot documented
LU3148133591documentednot documentednot documentednot documented
LU3148133674documentednot documentednot documentednot documented
LU3148133757documentednot documentednot documentednot documented
LU3148133831documentednot documentednot documentednot documented
LU3148133914documentednot documentednot documentednot documented
LU3148134052documentednot documentednot documentednot documented

Costs, minimum investment and risk can differ markedly by class — check the key information document of the specific class before subscribing.

07Fund details & verification

Who stands behind the fund, who it is authorised for — and what the figures rest on.

AIFM / management company

DWS Investment S.A

Launch date

Launch announcement 23 Sep 2025; ELTIF authorisation 7 Nov 2025; end of portfolio ramp-up 25 Nov 2027

BaFin database

Listed as “Deutsche Bank Private Markets SICAV - Diversified SAA Fund“ · fund type: EU/foreign ELTIF, open-ended, all investors · ID 70174260

Source: ESMA ELTIF register (Art. 3(3) ELTIF Regulation), as at 31 Jul 2026

Eligible investors

qualified private clients of Deutsche Bank (EEA + Switzerland); retail + professional

Distribution authorisation

AT, BE, CY, CZ, DE + 19 further

Fee layers / double charging

TWO-TIER. According to the KID, the sub-fund expressly invests 'in the form of direct investments and of target funds ('target funds'), such as other ELTIFs, EU AIFs and UCITS' and 'may invest in target funds directly or via other funds'. At target-fund level their own management fees and carried interest arise. IMPORTANT LIMIT: 'limit the investments in target funds and certain other direct investments that are managed or controlled by the portfolio manager or its affiliated companies to 30 %' – i.e. in-house Partners Group target funds may account for a maximum of 30 % of assets; for this 30 % there is structural double charging (DWS/Partners Group fee at fund level PLUS Partners Group fee at target-fund level). Whether a fee waiver/rebate applies to these affiliated target funds is NOT addressed in the KID. This is NOT a true master-feeder structure: Partners Group AG is portfolio manager of the sub-fund under a delegation agreement, DWS Investment S.A. is AIFM. Unlike BlackRock, the KID does NOT clarify whether the target-fund costs are included in the 1.98 %

All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.

Similar funds

Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.

Important information. semiliquid.info does not provide investment advice and makes no recommendation to buy, sell or hold fund units — no ranking, no offer, no invitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We give no warranty for the accuracy, completeness or currency of the information. Semi-liquid funds invest in illiquid assets: redemptions are possible only to a limited extent and can be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and the key information document before making an investment decision and seek professional advice where appropriate.