Legal notices

What this site is

An editorial information service. We collect what the prospectuses and key information documents say, check it against the original documents and make it comparable. Every figure carries its source and date.

What this site is not

Not investment advice, not investment broking, not an offer and not an invitation to subscribe. Nothing can be bought here — there is no subscription route and no forwarding to providers or custodians.

No money from providers

We receive no money from any fund provider, management company or distributor — no commission and no payment for inclusion, placement or presentation. The site is privately funded. Any change to that will be stated here before it takes effect.

About the access check

The access check answers a legal question, not a personal one: whether a fund is accessible in your country for your investor category. It does not assess whether a fund suits you. What you enter stays in your browser.

Risk warnings

Semi-liquid funds are not a milder form of open-ended retail funds. They invest mainly in assets that cannot be traded daily on an exchange — and that shapes every one of the risks below.

  • Total loss. The value of units can fall. A loss of the capital invested, up to and including a total loss, is possible.
  • Limited redemption. Units can only be redeemed on set dates, usually subject to notice. Almost every fund covered caps redemptions per period. Once the cap is reached, only part of the requests are met and the rest is deferred; redemptions can also be suspended altogether. Do not count on receiving your money at a particular date.
  • Valuation. There is no market price. The unit value rests on valuations that lag and are partly estimated. The price at which units are actually redeemed can differ from it.
  • Costs. Ongoing costs are markedly higher than for conventional retail funds. Performance-related fees come on top; in fund-of-funds and feeder structures costs arise at two levels.
  • Leverage and currency. Many funds use borrowed money, which amplifies swings. Unit classes in a foreign currency also carry currency risk — including hedged classes.
  • Performance. Past performance says nothing about future results. Some of the price series on this site are derived from provider reports rather than official series; this is noted at the fund concerned.
  • The liquidity score is not a quality verdict. It measures only how quickly and reliably you can get your money back — not whether a fund is good or suits you.
Only the prospectus and the key information document of the fund concerned are authoritative. Read both before taking an investment decision — and if in doubt, ask someone who knows you and your circumstances.

Liability for the data

All figures come from provider documents and public sources. We work carefully but cannot guarantee accuracy, completeness or timeliness. Where they differ, the original document prevails. Please report errors to contact@semiliquid.info — we check against the source and correct.

Use of the content

The fund documents belong to their providers. Our analyses, texts, charts and the liquidity score are protected by copyright. Quotation with attribution and a link is welcome, as are press enquiries. Automated harvesting of the data set, resale and republication as your own service are not permitted.

Publisher

Responsible for content and data processing:

Niko Hatziiosifidis
Müsliweg 9
6315 Oberägeri
Switzerland
contact@semiliquid.info

A private project run by an individual. Not a financial service requiring authorisation, and not a broking activity.

Privacy

No advertising trackers. This page loads no fonts, maps or social media widgets from third-party servers. We set no cookies of our own, build no usage profile and pass nothing on for advertising purposes. Our operator Cloudflare may set short-lived, strictly necessary cookies to fend off automated access (such as __cf_bm, lifetime 30 minutes); these serve security only and hold no usage profile. For audience measurement we use Umami (see below) — cookieless and without recognition. A consent banner is therefore not required.

Language choice. The language follows the address: /… is German, /en/… is English. We store nothing in your browser for this.

Access check, filters and comparison. Whatever you enter there is processed only in your browser. Nothing is sent to a server and nothing is stored.

Hosting. The site runs on Cloudflare, Inc. (101 Townsend Street, San Francisco, CA 94107, USA) as a processor. Cloudflare delivers the site and protects it against overload and automated access. Data may therefore also be processed outside Switzerland and the EU; the basis is Cloudflare's data processing addendum and the standard contractual clauses.

Audience measurement. To see which content gets read we use Umami (Umami Software, Inc.) as a processor. Recorded are the page view, referring page, browser, operating system, device type and country. Umami sets no cookies and stores nothing on your device. An anonymous session identifier is derived from IP address and browser signature; the IP address itself is not stored. You are not recognised across longer periods or across other websites. Data may be processed outside Switzerland and the EU. The basis is our legitimate interest in usage statistics that work without personal data (Art. 6(1)(f) GDPR). A content blocker in your browser prevents the measurement entirely.

Server log files. When the page is requested, technically necessary data are recorded: IP address, time, resource requested, status code and browser identification. They serve secure operation, are not combined with other data and are deleted after 14 days at the latest; at Cloudflare connection data are in any case only available for a few days. The legal basis is the legitimate interest in trouble-free operation (Art. 6(1)(f) GDPR).

Newsletter. We process e-mail address, country, investor category, language, the time of consent, the time of confirmation, status, and the IP address from which consent was sent. Country and investor category determine which content you may receive; the IP address serves as evidence of consent and guards against bulk sign-ups. Sign-up uses double opt-in: you are only on the list once you click the link in the confirmation e-mail. The list is held in our own storage at Cloudflare (see hosting); for sending the confirmation e-mail we use Brevo (Brevo GmbH, Köpenicker Straße 126, 10179 Berlin) as a processor. The legal basis is your consent (Art. 6(1)(a) GDPR). You can withdraw it at any time via the unsubscribe link in every issue, after which we delete your data. There is no fixed publication schedule — we write when there is something to report.

Your rights. Access, rectification, erasure, restriction, portability and objection — simply write to contact@semiliquid.info. Complaints go to the FDPIC in Switzerland or, in the EU, to the supervisory authority of your country of residence.

The controller is the person named above. Processing follows the Swiss Data Protection Act; for visitors from the EU the General Data Protection Regulation applies in addition.

These notices are current as at 20 Aug 2026.