Fund databaseReal Estate

Schroders Capital Semi-Liquid Global Real Estate Total Return

Schroders Capital · LU2523340508

Part II SICAV Real Estate Luxembourg Article 8 33 share classes ↓ Co-Investments

NAV · 30 Jun 2026129.35 USD
Fund currencyUSD
Income treatmentaccumulatingclass tracked, verified
Performance since Aug 2023 p.a.+7.9%Class IZ Acc USD
Ongoing costs
Min. investment
Redemptionquarterly
Risk (SRI)4 / 7

01Performance

Unit price (NAV) in USD · share class IZ Acc USD · 35 data points

129.35 USDNAV as at 30 Jun 2026
102.2110.9119.5128.1Aug 2023May 2024Jan 2025Oct 2025Jun 2026
Source: Price feed from the management company all values documented from primary sources
YTD+3.2%
1 year+6.5%
since Aug 2023 p.a.+7.9%

Calendar-year returns

Calendar years, calculated from the NAV series

+8.6%2024+7.5%2025+3.2%2026 YTD

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.

Performance 12M · as at 31 May 20268.00%
Since launch p.a. · as at 31 May 202628.60%

Target return per the provider: No target return disclosed in the factsheet. Actual figure: annualised three-year net return +7.7 % p.a. (Class IZ Acc USD).

Source: Factsheet_LU2523340680_2026-05-31

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 year2022
Fund sizeUSD 84mas at 31 May 2026
CurrencyUSD
Income treatmentboth
SFDRArticle 8
Recommended holding5 yrs
Liquidity buffer38.00%
Leverage limit35.00%

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

Actual portfolio% of NAVas at 31 Mar 2026

Logistics & industrial48.0%
Residential21.0%
Hotel & hospitality19.0%
Office5.0%
Retail property5.0%
Other3.0%
Show groups
Real estate98.0%
Other3.0%
Source: Schroders Capital 'Global Real Estate Total Return Status update – May 2026', S. 2, Grafik 'Sector' (Aufteilung per 31.03.2026)

Geographic breakdown

Actual portfolio% of NAVas at 31 Mar 2026

Europe44.0%
North America40.0%
Asia-Pacific16.0%
Source: Schroders Capital 'Global Real Estate Total Return Status update – May 2026', S. 2, Grafik 'Geography' (Aufteilung per 31.03.2026)

Strategy

Co-Investments

Focus on outperforming private real estate equity in institutional programmes and direct co-investments; in addition, listed property shares for efficient sector coverage, liquidity management and the avoidance of cash drag

Portfolio composition

Funded private assets 62 % (USD 52.3m), liquid bucket 38 % (USD 32.0m) of the fund NAV of USD 84.3m (31 May 2026)
Source: Factsheet_LU2523340680_2026-05-31

Top holdings

Top 10 investments (% of NAV, as at 31 May 2026): Global Securities (listed REITs/property companies) 13 %; American Data Centre Platform (co-investment in a North and Latin American data centre platform) 9 %; Tokyo Serviced Living (co-investment converting residential property into short-stay hospitality) 9 %; US Growth (multifamily/industrial) 8 %; Continental European Hotels 7 %; UK Self-Storage (recapitalisation) 6 %; North-West EU Industrial (99 % inflation-linked leases) 6 %; US Logistics 6 %; UK Income 6 %; UK Social Supported Housing 5 %. Top 5 pipeline: UK Self-Storage top-up (USD 130m), North-West EU Industrial top-up (USD 860m), Berlin 4* hotel (USD 100m), UK 5* hotel (USD 137m), Dutch Retail Eindhoven (USD 70m)
Source: Factsheet_LU2523340680_2026-05-31, 'Top ten investments' and 'Top five investment pipeline'

03Costs

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

Management fee0.75%
Total ongoing costsnot documented
Entry charge max.0.00%
Redemption fee5.00%
Performance feenot documented
Hurdle ratenot documented
High-water marknot documented

How the performance fee works

Not specified in the prospectus; this refers only generically to a benchmark and hurdle for each fund.
Source: Prospekt_LU2523340680_2025-12-01

Costs per the key information document

Not documented in the documents available – the factsheet contains no cost figures, and the prospectus text extract contains no Appendix III fee table. The previous TER figure of 1.02 % cannot be substantiated here
Source: Factsheet_LU2523340680_2026-05-31; Prospectus 1 Dec 2025

04Subscription & entry

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

Subscriptionmonthly
Minimum investmentnot documented
Entry chargeup to 0.00%
Rec. holding period5 years

Subscription per the document

Monthly ('Liquidity: Monthly Subscriptions')

Source: Factsheet_LU2523340680_2026-05-31, 'Key fund information'

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.

1 · Lock-upnot documented
2 · Notice periodquantified
3 · Redemption datequarterly
4 · Gatequantified
5 · Payoutnot documented

Redemption per the document

Quarterly ('Quarterly Redemptions')

Source: Factsheet_LU2523340680_2026-05-31, 'Key fund information'

Gate per the document

Not documented – not disclosed in the factsheet.

Source: Factsheet 31 May 2026; Prospectus 1 Dec 2025

Notice period

Not documented – according to the prospectus, the dealing cut-off time and dealing day are set for each sub-fund in Appendix III ('as defined for each Fund in Appendix III'); no specific period is publicly disclosed.

Source: Prospekt_LU2523340680_2025-12-01, Definitions

Lock-up

Cannot be substantiated at fund level. What is documented is a class-related soft lock: a three-year redemption fee period for P units from subscription, combined with a three-year prohibition on switching and transfer.

Source: Prospekt_LU2523340680_2025-12-01, 'Specific Features of P Shares'

06Share classes

33 classes known. All cost and risk figures on this page apply to LU2523340508.

ISINStatusMin. investmentOngoing costsSRI
LU2523340508basis of this pageUSD 5mnot documented4/7
LU2523340334documentedUSD 10,0002.33%4/7
LU2605999684documentedCHF 5m0.92%4/7
+ 30 more share classes
ISINStatusMin. investmentOngoing costsSRI
LU2658265637documentedEUR 10,0002.33%4/7
LU2965716876documentedEUR 10,0001.23%4/7
LU2965716793documentedEUR 10,0001.23%4/7
LU3298928162documentedEUR 10,0002.46%4/7
LU2523339088documentedUSD 5m0.27%4/7
LU2523338783documentedUSD 10,0002.08%4/7
LU2523339831documentedUSD 10,0002.18%4/7
LU2523340417documentedUSD 10,0002.08%4/7
LU2832293943documentedSEK 10,0002.08%5/7
LU2523339161documentedUSD 5m0.27%4/7
LU2605999411documentedCHF 10,0001.33%4/7
LU3226572348documentedAUD 5m0.17%4/7
LU2523338940documentedUSD 5m0.92%4/7
LU3298928089documentedEUR 10,0002.46%4/7
LU3226572421documentedAUD 5m0.17%4/7
LU2632488057documentedUSD 10,0001.23%4/7
LU2523340177documentedUSD 10,0002.32%4/7
LU2523339245documentedUSD 10,0001.23%4/7
LU3169040766documentedUSD 5m0.72%4/7
LU2523340094documentedUSD 10,0002.32%4/7
LU2523338866documentedUSD 5m0.92%4/7
LU2523339328documentedUSD 10,0001.23%4/7
LU2523339674documentedUSD 10,0001.33%4/7
LU2523339914documentedUSD 10,0002.18%4/7
LU2605999502documentedCHF 10,0001.23%4/7
LU2523340680documentedUSD 5m1.02%4/7
LU2658265710documentedEUR 10,0001.23%4/7
LU2523340250documentedUSD 10,0002.33%4/7
LU2523339757documentedUSD 10,0001.33%4/7
LU2605999767documentedCHF 5m1.02%4/7
Note on the classes
Class universe: 33 classes (Fund Centre, Luxembourg, professional investors). The main class is IZ Acc USD; base currency USD according to the annual report. Class launches: Y1 on 31 Jan 2025, X1 on 31 Oct 2025, I-AUD on 31 Dec 2025. As at 31 Dec 2025 the NAV stated in the annual report differs from the dealing NAV by 1.5 %.

07Fund details & verification

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

AIFM / management company

Management company: Schroder Investment Management (Europe) S.A., authorised as a 'full-scope' management company. Fund managers: Yim-Mei Liew and Lucinda Liss. Schroders Capital is the private markets investment division of Schroders

Source: Prospekt_LU2523340680_2025-12-01; Factsheet 31 May 2026, 'Key fund information'

Depositary

Brown Brothers Harriman (Luxembourg) S.C.A

Source: Prospekt_LU2523340680_2025-12-01, Definition 'Depositary'

Launch date

Fund inception 8 Dec 2022. Until the extraordinary general meeting on 28 October 2022 the umbrella SICAV was named 'Schroder GAIA II'

Source: Factsheet_LU2523340680_2026-05-31 ('Fund inception: 8 Dec 2022'); Prospectus 1 Dec 2025, footnote 1

Eligible investors

Factsheet: 'Marketing material for professional clients only'. Prospectus (Austria annex): distribution to professional investors under Art. 32 AIFMD as well as to 'Qualified Private Investors' (evidence of unencumbered bank deposits/financial instruments of more than EUR 250,000, suitability assessment, minimum investment EUR 10,000)

Source: Factsheet 31 May 2026 header; Prospectus 1 Dec 2025, country annex Austria

Distribution authorisation

Luxembourg, Nordics (Sweden/Finland documents), further EEA states; exact list n/a

Fee layers / double charging

For this strategy Schroders Capital pursues a multi-manager and multi-strategy approach; whether there is a target-fund level with additional fees is not documented.

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.