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DWS Infrastruktur Europa
Key Statistics
Fund Size
€501.3M
Target Return
4.4%
Annualized Return
4.4%
Launch Year
2023
Min. Investment
€50
Availability
Open for public
Structure
Offenes Infrastruktur-Sondervermögen (German KAGB AIF, not an ELTIF)
Product Category
Open-end
Domicile
Germany
GP Type
Single
Liquidity Level
Medium (1-5 years)
Management Fee
1.3%
Carry
None%
ISIN
DE000DWSE015
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Daily subscriptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
3 out of 7
Annual Returns (KID Scenarios)
Stressed
-9.9%
Moderate
2.8%
Favorable
4.4%
Average Total Cost Level (KID)
2.8%
Allocations
Investment Strategy
Industry Focus
Historical Performance
Performance Summary
RC (retail, EUR, distributing)(DWSE01) — Performance from 2023-04-27 to 2026-06-30
NAV: 50.28
Performance Comparison
1-Year Return
4.5%
3-Year Return
14.7%
Annualized Since Inception
4.4%
Historical NAV Per Share
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | — | — | — | — | — | — | — | — | — | — | — | — |
| 2025 | — | — | — | — | — | — | — | — | — | — | — | — |
| 2024 | — | — | — | — | — | — | — | — | — | — | — | — |
IC (institutional, EUR, distributing)(DWSE11) — Performance from 2023-04-27 to 2026-06-30
NAV: 51.88
Performance Comparison
1-Year Return
5.6%
3-Year Return
18.6%
Annualized Since Inception
5.6%
Historical NAV Per Share
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | — | — | — | — | — | — | — | — | — | — | — |
AC (anchor investors, EUR, distributing)(DWSE21) — Performance from 2023-04-27 to 2026-06-30
NAV: 51.9
Performance Comparison
1-Year Return
5.7%
3-Year Return
18.7%
Annualized Since Inception
5.7%
Historical NAV Per Share
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | — | — | — | — | — | — | — | — | — | — | — |
Information about fund
DWS Infrastruktur Europa at a Glance
DWS Infrastruktur Europa, launched on 27 April 2023 by DWS Grundbesitz GmbH, was the first open-ended infrastructure fund under the German Capital Investment Code (KAGB §§ 260a ff.). It is a German AIF, not an ELTIF, sold in Germany only through Deutsche Bank branches and other distributors from EUR 50. The fund buys majority stakes in operating renewable-energy project companies with long-term contracted revenues and held seven solar and onshore-wind assets in Germany, Spain, Sweden and Finland at 30 June 2026.
Key Figures (30 June 2026)
Fund Assets
€501.3M
7 investments, 4 countries, about 330 MW
Since Launch
14.8%
4.4% p.a., BVI method, RC class, gross of load
FY 2025/26
4.4%
2024/25: 5.2%; first shortened year: -4.6%
Management Fee
1.30%
RC class; TER 1.38% FY 2024/25; IC 0.85%, AC 0.65%
Front-end Load
up to 5%
RC class; KID cost impact 2.8% p.a. over 5 years
Risk Indicator
3 / 7
KID 21 July 2026; 5-year moderate scenario 2.8% p.a.
Terms & Liquidity
| Structure | German open-ended Infrastruktur-Sondervermögen (KAGB), managed by BaFin-regulated DWS Grundbesitz GmbH; depositary State Street Bank International GmbH; SFDR Article 8 |
| Minimum | One unit, marketed from EUR 50; IC class from EUR 1 million, AC from EUR 25 million |
| Holding period | Statutory minimum of 24 months |
| Redemption notice | 12 months, irrevocable, to one of two redemption dates a year (10 February and 10 August); worst case about 18 months |
| Liquidity tools | Since 16 April 2026: redemption fee of 1–5% and/or gate of up to 12 months once orders reach 10% of liquid assets |
| Distributions | Annual in October; EUR 2.19 per RC unit for 2024/25 (4.16%) |
| Allocation | 40% solar, 35% wind, 25% liquidity by NAV; real estate admixture of up to 30% permitted |
| ISIN | DE000DWSE015 (RC); IC DE000DWSE114; AC DE000DWSE213; TFC DE000DWSE312 |
Portfolio Build-up
Launch and first solar park
Fund launched 27 April; 80 MWp Klettwitz Süd solar park in Brandenburg with a 20-year EEG tariff.
Spanish solar
Three PPA-backed solar parks totalling 148 MWp at Medina de las Torres, acquired from X-ELIO.
Heather Wind, Sweden
48 MW onshore wind farm with 12 Nordex turbines, commissioned August 2024.
German wind
12.6 MW Vestas onshore wind farm in Germany.
Finland and new share class
41.3 MW Oulainen wind farm bought from wpd in March; trailer-free TFC class added 28 July; fund assets pass EUR 500 million.
Points to weigh: capital is effectively locked for at least three years; the fund still held about a quarter of assets in liquidity three years after launch; the RC class's 5% load and 1.30% fee are well above the institutional classes; net returns after the load have so far trailed the manager's indicative 4–5% p.a.; and the new redemption fee and gate can restrict exits under stress.
Deepdive & Related Funds
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BB Capital Infrastructure Fund
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Blackstone Infrastructure Strategies ELTIF (BXINFRA Lux)
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Brookfield Infrastructure Income Fund (BII)
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EQT Nexus (ENXF)
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Meewind
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