J.P. Morgan Asset ManagementLU2850509287Class C (perf) (acc) - EUR
The J.P. Morgan ELTIF builds a diversified private-markets portfolio through secondaries, primaries and co-investments — with a pronounced Asian share, launched in 2025, accumulating.
Despite quarterly dealing dates, one of the most illiquid retail products in the field: since September 2026 each subscription carries a three-year lock-up (previously five years; the reduction also applies to existing holdings), plus a full year's redemption pre-notice and a two-stage limit against liquid assets and fund assets. Monthly subscription.
For retail investors through the retail classes and professional investors; registered in roughly twenty-three countries including Germany, recommended holding period ten years.
A closed-end-fund heart in an ELTIF wrapper — J.P. Morgan demands the commitment others simulate through fees: honest in substance and, even after the shortened lock-up, among the multi-asset ELTIFs one of the products with the longest capital tie-up.
Figures for class C (perf) (acc) - EUR (LU2850509287) · product data 9 Oct 2026 · sources: prospectus (as at 1 Sep 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Jun 2025, the unit price has gained 2.8% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
8 monthly values · 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. series incomplete (8/15 months).
What the prospectus permits: Direct investments, co-investments, primaries, secondaries
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
2 holdings; the five largest account for 63.6% of the fund. 36.4% is held in the liquidity reserve — enough for 22 months of maximum redemptions.
How the reserve is invested: JPMorgan Liquidity Funds – EUR Liquidity LVNAV Fund (Class X) 94.7% · Fixed income and deposits (aggregate position, as at) 36.4%. It covers 22 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Focus according to fund documents: Diversified, no sector breakdown 100%
Among the largest positions: 2 primary funds; 1 name not disclosed.
Evergreen fund, not disclosed by name, of J.P. Morgan Asset Management's Global Transportation Group with around 300 transportation assets across eight sectors, including ships, aircraft …
Open-ended core and core-plus real estate fund of J.P. Morgan Asset Management with around 125 properties in major Asia-Pacific cities, mainly logistics, office and residential.
Positions and shares according to the provider; 1 of 2 names not disclosed; short descriptions by semiliquid.info from public sources; holdings as at 31 Mar 2026, reserve as at 31 Dec 2025; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.36%, class C (perf) (acc) - EUR is well below the median of the asset class (2.30%). On top comes a performance fee of 12.50% above a hurdle of 7% — with a high-water mark.
For 10,000,000 EUR this means roughly 136,000 EUR per year.
For 10,000,000 EUR, no charge on purchase.
Based on the PRIIPs key information document of class C (perf) (acc) - EUR, hence comparable across providers. Median: 16 Multi-Asset funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed.
KYC/AML documentation with the subscription notice; no processing unless complete
The AIFM may grant individual investors differing cut-off times, in each case prior to …
Price = NAV at the end of the previous month.
An order placed today is invested in — days (—). Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
Shown without a date because the prospectus does not quantify: NAV publication, payment. The remaining markers are calculated from the prospectus rules.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st calendar day of the month |
| Cut-off | 5 business days before dealing day · 14:30 CET · (before the anchor date) |
| Price | previous month-end |
| NAV publication | Valuation day = last business day of the month; NAV publication typically by the last business day of the following month |
| Payment | after NAV publication: 3 business days after NAV publication |
| Minimum investment | EUR 10,000 |
| Entry charge (max.) | 5% (Fund) |
| Subscription limit | The Board may close the sub-fund or share class to further inflows indefinitely and without lead time, including on reaching a capacity limit |
| KYC / documents | KYC/AML documentation with the subscription notice; no processing unless complete |
| Revocation | Retail: cancellation within the cooling-off period; not otherwise governed |
| Business day | LU |
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 36 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption days 1 January/April/July/October or the following business day.
Price = NAV per share on this day.
Ordinary Gating Restrictions: redemption requests are met only to the extent that the aggregate value of the …
Pricing date for a request made today: —, in — days.
Shown without a date because the prospectus does not quantify: NAV publication, payment. The remaining markers are calculated from the prospectus rules.
No liquidity score — payout depends on NAV publication, whose timing the prospectus does not quantify.
The score needs a quantified redemption frequency, notice period and payout rule; as soon as the prospectus provides them, it is calculated.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | 1st calendar day of the month |
| Notice | 12 months before redemption day · 14:30 CET |
| Price | quarter-end |
| Payout | 3 business days after NAV publication |
| Gate | 5% gross of NAV on the redemption day per redemption day; in addition max. 50% of the Liquid Investments of the sub-fund. |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | 0% |
| Lock-up | investor-level, 36 months (subscription) |
| Suspension | Valuation not possible, market/transfer restrictions, tax disadvantages for the fund or investors; in addition prohibition where no depositary is in place |
| Liquidity tools | Lock-up, 12-month notice period, Ordinary and Extraordinary Gating with pro rata and carry-forward, Side Pockets, suspension of NAV and … |
| Switch / transfer | permitted with the consent of the Board, the transferee must be an Eligible Investor; retail transfers via the distributor or the AIFM |
| Compulsory redemption | where the minimum holding is not met, subject to 6 months' lead time, in the case of a US person, lack of class eligibility, breach of law or tax … |
Ordinary Gating Restrictions: redemption requests are met only to the extent that the aggregate value of the units tendered does not exceed either 50% of the sub-fund's Liquid Investments or 5% of the sub-fund NAV per redemption day; the board of directors or the AIFM may at their discretion permit more where this impairs neither the interests of the remaining investors nor the pursuit of the investment objective.
Two-tier gate: the “Ordinary Gating Restrictions” satisfy redemptions only to the extent that the aggregate value of the units tendered exceeds neither 50% of the sub-fund's Liquid Investments nor 5% of the sub-fund NAV per redemption day; the NAV ratio is covered.
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 9 Oct 2026 · Documents: 08.
3 classes. All cost and risk figures on this page refer to the basis class C (perf) (acc) - 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 |
|---|---|---|
| Factsheet / monthly report | 31 Dec 2025 | — |
| Presentation | — | — |
| NAV series secondary source (data portal) | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Mar 2026 | Portfolio (03) |
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 quarterly, notice period 12 months before redemption day, with 5% gate per redemption day.
Ongoing costs of 1.36% p.a. according to the PRIIPs KID for class C (perf) (acc) - EUR; the median of the Multi-Asset funds in this database is 2.30%; plus a performance fee of 12.50%.
From 35,000 EUR in the smallest class in EUR.
Yes. According to our evidence, the fund is open to retail investors 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 JPMorgan ELTIFs – Multi-Alternatives Fund. Under the prospectus a gate of 5% per redemption day applies.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.