Fund database › Infrastructure
Schroders CapitalLU2696138747Class IZ Acc USD
The sub-fund builds a core-plus energy-infrastructure portfolio through primary stakes — as an Article 9 building block of the Schroders semi-liquid platform, launched in 2023, with no performance fee.
Monthly subscription; quarterly redemption with roughly one quarter's notice and a net limit per dealing date; the build-up phase expired at the end of 2025, and distributions have flowed since.
The main share class covered here is sized for institutions and the material reserved for professional clients; not registered for retail distribution in Germany.
The institutional counterpart to the field's retail energy products — Article 9 and an energy-transition focus like klimaVest or Eiffel, but in a professional wrapper: for the database it is the proof that the same strategy is packaged entirely differently depending on the investor base.
Figures for class IZ Acc USD (LU2696138747) · product data 12 Oct 2026 · sources: prospectus (as at Jul 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Dec 2023, the unit price has gained 6.5% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
43 monthly values, 10 derived from monthly returns · Source: secondary source (data portal), price feed / provider document · 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.
What the prospectus permits: Direct investments and primaries
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
The five largest holdings account for 89.2% of the fund. 27.4% is held in the liquidity reserve — enough for 16 months of maximum redemptions.
How the reserve is invested: Goldman Sachs Funds PLC (GBP Liquid Reserves) 4.7% · Global equity portfolio (listed, total) 4.4% · Goldman Sachs Funds PLC (USD) 1.2% · 3 more 3.4%. It covers 16 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Among the ten largest: 5 primary funds, 5 equity holdings.
In-house Luxembourg vehicle (SCSp) of Schroders Greencoat for solar assets in the United States.
Oxbow solar farm in Louisiana (US) with a capacity of around 300 MW, according to the manager the largest in the state.
Offshore wind farm off the Yorkshire coast with 1.2 GW of capacity …
Butendiek is an 80-turbine, 288 MW offshore wind farm in the German North Sea west of Sylt, in operation since 2015.
Large glasshouse for vegetable production in the east of England (Norwich/Suffolk area), heated by heat pumps using waste heat from wastewater treatment plants and by CHP plants.
95 MW solar farm in the US state of Arkansas that sells its electricity under a long-term power purchase agreement (PPA) to Conway Corporation, the municipal utility of the city of Conway.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.04%, class IZ Acc USD is well below the median of the asset class (2.42%). There is no performance fee.
For 5,000,000 USD this means roughly 52,000 USD per year; the cheapest class with a cost figure is I Acc USD (0.14%, from 5,000,000 USD).
For 5,000,000 USD, no charge on purchase and up to 250,000 USD on redemption.
Based on the PRIIPs key information document of class IZ Acc USD, hence comparable across providers. Median: 25 Infrastructure funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 20 business days later.
different cut-off times possible for individual distribution partners, but must always be …
Price = NAV per share on this day.
NAV for each Dealing Day, usually available 20 business days after the Dealing Day.
after NAV publication: 22 business days after Valuation day
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 | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | last business day of the month |
| Cut-off | 5 business days before Valuation day · 13:00 Luxembourg · (before the anchor date) |
| Price | valuation day |
| NAV publication | NAV for each Dealing Day, usually available 20 business days after the Dealing Day; no retrospective adjustment after the annual accounts |
| Payment | after NAV publication: 22 business days after Valuation day |
| Minimum investment | USD 10,000 |
| Entry charge (max.) | 0% (distributor) |
| Subscription limit | Fund expressly capacity-constrained; closure to new subscriptions without prior notice; Capacity Restricted Dealing with EOI waiting list |
| Revocation | irrevocable from placement of the order; revocation only in the event of a suspension or deferral |
| Business day | no location reference: weekday except New Year's Day, Good Friday, Easter Monday, 24./25./26.12. (p. 8) |
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
Units can be redeemed quarterly — 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.
Swing pricing is currently applied only to European Loans and High Income Credit, not to this fund.
NAV per unit less redemption fee (up to 5%)
NAV at previous quarter-end (—)
at the latest 30 business days after NAV publication (—)
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Money typically within half a year — on average 168 days from decision to cash.
Rank 35 of 112 · rank 5 of 23 in Infrastructure · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 15 Jul 2026 · score run 16 Oct 2026 · How 168 days become 37 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 | quarterly |
| Valuation day | quarter-end |
| Notice | 90 calendar days before redemption day · 13:00 Luxembourg |
| Price | quarter-end |
| Payout | 2 business days after NAV publication (latest 30 business days) |
| Gate | 5% net of NAV at the previous quarter-end per quarter; The management company may round the 5% down, waive it or increase it where liquidity is sufficient |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 5% (discretionary) |
| Lock-up | none |
| Suspension | Exchange closed or trading restricted; prices cannot be determined; suspension at target fund level |
| Liquidity tools | Gate of 5% net per quarter with pro-rata scale-back and carry-forward; deferral above 5% (section 2.7); extension of payment to up to 30 business days. |
| Switch / transfer | Registered units, holding and transfer via clearing systems possible; individual classes may be listed on the Luxembourg Stock Exchange. |
| Compulsory redemption | Falling below the minimum holding is deemed an instruction to redeem the entire holding |
max. 5% of NAV per quarterly redemption date, by reference to net redemptions (redemptions less subscriptions for the quarter) and to the NAV of the Calculation Day at the end of the preceding quarter
The Gate relates to the NET redemptions of a quarter (redemptions less the subscriptions received in the same quarter or carried over from the preceding quarter) and is applied to the NAV of the Calculation Day at the end of the preceding quarter. Amounts in excess are scaled back pro rata and deferred to the next redemption date; the management company may round the 5% limit down, suspend it or increase it.
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
30 classes. All cost and risk figures on this page refer to the basis class IZ Acc USD; the cheapest class with a cost figure is I Acc USD (0.14%, from 5,000,000 USD).
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. The risk indicator differs by class (4 to 5); the key figures show the value of the basis class.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Factsheet / monthly report | 30 Apr 2026 | — |
| Prospectus | 1 Dec 2025 | — |
| NAV series secondary source (data portal), price feed / provider document | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2025 | 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 90 calendar days before redemption day, with 5% gate per quarter. Subscribing today, it takes on average 168 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 1.04% p.a. according to the PRIIPs KID for class IZ Acc USD; the median of the Infrastructure funds in this database is 2.42%; no performance fee.
From 10,000 USD in the smallest class in USD.
Not as a retail investor. According to our evidence, in Germany it is open only to semi-professional investors (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Schroders Capital Semi-Liquid Global Energy Infrastructure. Under the prospectus a gate of 5% per quarter applies.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.