Porta Equity · LU2736443420
ELTIF Multi-Asset Luxembourg Article 6 Primaries / Target Funds
Unit price (NAV) in EUR · share class I · 83 data points
Calendar years, calculated from the NAV series
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.
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 5.4 % p.a. (20 years)
Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.
What the fund does and how the portfolio is put together.
Risk indicator 5 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.
Strategy
The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.
| Management fee | 0.18% |
| Total ongoing costs | 2.40% |
| Entry charge max. | 0.00% |
| Redemption fee | 0.00% |
| Performance fee | 12.50% |
| Hurdle rate | not documented |
| High-water mark | yes |
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 you get into the fund, and on what terms.
Daily - 'unit value calculated on every valuation day. A valuation day is every bank business day in Luxembourg, Hamburg and Frankfurt am Main, with the exception of 24 and 31 December of each year.' Payment of the issue price within two weeks and two bank business days. Issue at the unit value plus any entry charge; individual certificates are not issued (bearer units in global certificates)
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; for the first 24 months after subscription no redemption is possible.
From the notice being received to the money reaching your account: typically around 362 to 454 days — depending on how far away the next redemption date is. If the gate bites or redemptions are suspended, it can take considerably longer.
Quarterly - the redemption date is the last valuation day of a calendar quarter
TWO-TIER, now quantified: (1) 'The aggregate amount of redemptions on any redemption date is limited to 50 % of the fund's liquid investments that are not required to service short-term liabilities (including distributions already announced), fees, provisions, loss carry-forwards, investments or reinvestments.' (2) Minimum liquidity reserve: if redemptions would cause a minimum liquidity reserve of 5 % of net asset value in liquid investments to be breached, redemptions are scaled back pro rata across all applicants. Unexecuted portions are CARRIED FORWARD to the next redemption date and processed there AHEAD OF new redemption requests; processing may extend over several redemption dates. In addition, temporary suspension is possible (clause 8.5)
Regular notice period: 12 months to quarter-end, by irrevocable redemption declaration to the custodian bank. EXTENDED NOTICE PERIOD: 'The notice period may be extended by 3 months at the management company's own discretion, such that the application must be submitted 15 months before the relevant redemption date by way of an irrevocable redemption request.' It applies to all share classes and is announced on the management company's website 10 days before it is applied; while it is in force, only applications complying with the extended period are accepted.
TWO cumulative locks: (1) FUND LEVEL - redemptions are 'first permissible after the expiry of 2 years from authorisation of the fund (the "lock-up period")'. (2) UNIT LEVEL - 'redemptions of units are not possible during the first two (2) years after the issue of the relevant units that are to be redeemed ("minimum holding period")'; in the event of a legal sale or transfer during the minimum holding period, it starts AFRESH for the new investor, with no credit for the part already elapsed. Notice of redemption may be given during the minimum holding period; once the irrevocable redemption declaration has been received, the custodian bank blocks the units (no transfer to other securities accounts possible). According to the share-class table: 'minimum holding period 24 months (includes the notice period)'
Who stands behind the fund, who it is authorised for — and what the figures rest on.
Management company: HANSAINVEST LUX S.A
DONNER & REUSCHEL Aktiengesellschaft, Luxembourg branch
Initial issue date 15 Apr 2024 (both share classes P and I), initial issue price EUR 100.00. Fund term 20 years with an option to extend up to 2 (two) times by up to 10 (ten) years. Financial year-end 31 March; the first financial year ended on 31 Mar 2025.
'The profile description of the typical investor applies equally to all share classes of the fund' - investors who can bear substantial losses and do not require any guarantee as to the preservation of their invested amount. The prospectus defines a 'retail investor' as an investor who is not a professional investor. Class I is de facto delimited as institutional/semi-professional by the minimum investment of EUR 100,000
Germany
Pure fund of funds: according to the available information, the ELTIF invests exclusively via primary subscriptions in target funds. Two full fee layers therefore arise: at ELTIF level 2.4 % p.a. plus up to 20 % performance fee above a 1.5 % hurdle, at target-fund level typically 1.5–2.0 % management fee plus 20 % carried interest above an 8 % preferred return. Whether the target-fund fees are included in the 2.4 % according to the KID is no more documented than a fee rebate or waiver.
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.
Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.
Aberdeen Investments
QIAIF quarterly
Amundi
ELTIF 2.0 quarterly
DWS / Deutsche Bank
ELTIF 2.0 quarterly
Erste Asset Management
ELTIF 2.0 quarterly