Schroders CapitalLU2523340508Class IZ Acc USD
The sub-fund combines direct co-investments with multi-manager building blocks across private and listed real estate worldwide — the total-return approach of the Schroders platform, as a Part II SICAV, launched in 2022, with no performance fee.
Monthly subscription; quarterly redemption with roughly one quarter's notice and a net limit per dealing date; individual share classes carry multi-year redemption fees.
The main share class covered here is sized for institutions; qualified retail investors are admitted depending on the country. Not registered for retail distribution in Germany.
The most flexible real-estate approach in the field — public and private in one mandate allows tactical shifts where pure buy-and-hold funds are tied; the flip side is a profile that is harder to pin down than specialists like Greenman.
Figures for class IZ Acc USD (LU2523340508) · 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 Aug 2023, the unit price has gained 7.7% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
37 monthly values · 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. The fund has been running since Dec 2022; a reliable NAV series of the class is available from Aug 2023.
What the prospectus permits: Focus on outperforming private real estate equity in institutional programmes and direct co-investments; in addition listed real estate equities for efficient sector coverage, liquidity management and the avoidance of cash drag
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 45.0% of the fund. 45.0% is held in the liquidity reserve — enough for 27 months of maximum redemptions.
How the reserve is invested: HSBC GLF USD Liquidity C 1.4% · Welltower, Inc. 0.9% · Equinix, Inc. 0.7% · 7 more 2.9%. It covers 27 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: 3 primary funds, 3 LP secondaries, 2 co-investments; 3 names not disclosed.
Portfolio of around 90 listed REITs and real estate stocks, which the provider lists among its ten largest positions.
Undisclosed US real estate strategy with a growth and value-add approach, investing in multifamily and logistics/industrial properties in the 50 largest US cities.
Co-investment in converting residential properties in Tokyo into serviced apartments and short-stay accommodation.
In-house hotel fund of Schroders Capital (Schroders Capital Hotels S.A. SICAV-SIF, Luxembourg) holding hotels in continental Europe.
Schroders Capital UK Self Storage, L.P. is a vehicle holding an existing UK self-storage platform that rents storage space to private and business customers.
Open-ended logistics real estate fund managed by Prologis (Prologis Targeted U.S. Logistics Fund) with a portfolio of modern distribution and warehouse properties in core U.S. markets.
Fully let industrial and logistics real estate portfolio in northwestern Europe with a portfolio value of about USD 860 million, with 99% of rents contractually linked to inflation …
The Schroder UK Real Estate Fund is an open-ended, diversified UK property fund managed by Schroders with a focus on recurring rental income.
Social Supported Housing, L.P. holds a portfolio of operating and under-construction supported housing properties in the United Kingdom.
Co-investment in an unnamed data center platform with sites in North and Latin America.
Positions and shares according to the provider; 1 of 5 names not disclosed; short descriptions by semiliquid.info from public sources; holdings as at 31 Jul 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 1.27%, 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 63,500 USD per year; the cheapest class with a cost figure is I Acc AUD (0.17%, from 5,000,000 AUD).
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: 6 Real Estate 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.) | 3% (distributor) |
| Subscription limit | Closure to new subscriptions possible; Capacity Restricted Dealing with EOI waiting list (section 2.5) |
| 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 36 of 112 · rank 1 of 4 in Real Estate · 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 limits the NET redemptions of a quarter (redemptions less the subscriptions received in the same quarter) to 5% of the NAV at 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 limit down, suspend it or raise it where sufficient liquidity is available.
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.
33 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 AUD (0.17%, from 5,000,000 AUD).
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 | 31 May 2026 | — |
| Prospectus | 1 Dec 2025 | — |
| NAV series secondary source (data portal), price feed / provider document | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Jul 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 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 1.27% p.a. according to the PRIIPs KID for class IZ Acc USD; the median of the Real Estate 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 Real Estate Total Return. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.