DWS Infrastruktur Europa
Real Assets · Global · Infrastructure
Figures refer to the share class ISIN DE000DWSE213, currency EUR, retail share class.
Key facts
- Management company
- DWS Grundbesitz GmbH
- Asset class
- Real Assets
- Geography
- Global
- Strategy
- Infrastructure
- Share class currency
- EUR
- Share class inception
- 27.04.2023
- Fund size
- 512 million (as at 15.09.2026)
- Management fee
- 0.65%
- Performance fee
- No
- Liquidity
- Not available in this publication
- UCITS
- No
- Risk grade (SRRI)
- Not available in this publication
- Registered in Switzerland
- No (qualified investors only)
Price history
Fund and benchmark rebased to 100 at 02.10.2023.
Table view
| Period | From | Fund (100 at start) | Benchmark (100 at start) |
|---|---|---|---|
| 1Y | 02.10.2025 | 101.5 | 106.1 |
| Since 2023 | 02.10.2023 | 108.2 | 121.7 |
NAV per share, distributions not reinvested.
The benchmark is a total-return index and includes reinvested income.
In EUR, the currency of the share class shown.
Fund history to 29.09.2026.
Benchmark history to 29.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN DE000DWSE213, currency EUR, retail share class | -0.29 | 0.35 | 4.63 | 5.36 | 3.39 | 7.53 | Not available in this publication | 6.06 | 5.65 | Not available in this publication | 3.74 | 0.30 | -0.65 |
| BenchmarkEUR 3-month deposit + 4% | 0.53 | 1.56 | 3.09 | 4.08 | 6.38 | 7.96 | 7.47 | 6.16 | 7.06 | 6.22 | – | – | – |
| Differencefund minus benchmark, in percentage points | -0.82 | -1.21 | 1.54 | 1.27 | -2.98 | -0.44 | Not calculated: fund figure not available in this publication | -0.11 | -1.41 | Not calculated: fund figure not available in this publication | – | – | – |
Within the list: OpenList — Private Markets
Compared with the real assets funds on OpenList — Private Markets (2 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
| This fund | Group median | Position | |
|---|---|---|---|
| Return 1Y | 6.06 | Not available in this publication | Too few funds with a value (2) |
| Return 3Y p.a. | 5.65 | Not available in this publication | Too few funds with a value (2) |
| 3Y p.a. over its own benchmark | -1.41 | Not available in this publication | Too few funds with a value (2) |
| Volatility 3Y | 3.74 | Not available in this publication | Too few funds with a value (2) |
| Sharpe ratio 3Y | 0.30 | Not available in this publication | Too few funds with a value (2) |
| Max drawdown 3Y | -0.65 | Not available in this publication | Too few funds with a value (2) |
| Management fee | 0.65% | Not available in this publication | Too few funds with a value (1) |
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
WSP report
Ask WSP which research is available for this fund and what it covers.
Enquire about WSP researchBack to the list: OpenList — Private Markets
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 30.06.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
DWS Infrastruktur Europa is an open-ended infrastructure fund designed to give private investors access to unlisted European infrastructure projects from as little as EUR 50. The fund targets regular income, an attractive risk-adjusted return and a stable annual distribution, with a recommended holding period of 5 years and a statutory minimum holding period of 24 months. In the PRIIP document, the AC share class is classified in risk class 3 on a 1-to-7 scale, indicating medium-low risk. Based on its focus on operating infrastructure assets, long-term contractual cash flows and portfolio diversification characteristics, the fund is positioned as a distinct real-assets allocation within a medium- to long-term portfolio for investors who can bear a partial or total loss of capital and have advanced knowledge and/or experience.
Investment strategy
The fund is actively managed and is not managed with reference to a benchmark. Its investment objective is to generate regular income, an attractive risk-adjusted return and a stable annual distribution through investments in infrastructure project companies, potentially with an admixture of real estate. Regionally, investments may be made at selected locations in EU and EEA member states and, very selectively, in European countries outside the EU/EEA; the current focus is on operating solar and wind projects in Germany, Spain, Sweden and Finland. Sector-wise, the documents state a focus on renewable energy, especially hydropower, wind, solar, geothermal and biomass, while the broader infrastructure opportunity set also includes energy transmission and storage, transport and logistics, digital infrastructure, utilities and social infrastructure; borrowings of up to 30% of the market value of directly held real estate plus short-term borrowings up to 10% of fund assets are permitted, and some borrowing may also be used at project-company level. The fund distributes annually, the fund currency is EUR, and units can generally be redeemed only after a 24-month minimum holding period and with 12 months' notice, with two redemption dates per calendar year.
Investment philosophy
• The investment universe is European infrastructure project companies, with the current investment focus on assets already in operation and a sector emphasis on renewable energy projects.
• DWS states that it applies a highly selective screening process, with only about 5% of the projects analysed annually reaching the final round.
• Portfolio cash-flow quality is anchored in fixed-price or contracted revenues, including power purchase agreements, feed-in tariffs under the Renewable Energy Sources Act (EEG), and contracts with the public sector.
• As of 30 June 2026, the fund had seven investments across four countries, with portfolio exposure shown as 40.0% solar power, 35.0% wind energy and 25.0% liquidity, and around 330 MW of installed power.
• Fund management is continuously assessing further investments in battery storage, transport, digital infrastructure and social infrastructure, while the documented framework also includes minimum holding periods, notice periods and stated borrowing limits.
Management team
The named fund manager is Dr. Peter Brodehser. In the report he is identified specifically as Fund manager of DWS Infrastruktur Europa and provides the manager commentary marking the fund's three-year milestone.
The asset manager
The fund is launched and managed by DWS Grundbesitz GmbH, which is the capital management company and a member of the DWS Group. DWS is the brand under which DWS Group GmbH & Co. KGaA and its subsidiaries operate their business. DWS Grundbesitz GmbH is based at Mainzer Landstraße 11–17, 60329 Frankfurt am Main, Germany. The fund overview states assets under management of EUR 501.3 million for DWS Infrastruktur Europa as of 30 June 2026.
Performance analysis
Source: manager factsheet dated 30 June 2026. The portfolio is currently centered on operating solar and wind assets in Germany, Spain, Sweden and Finland, and the fund notes that the combination of both technologies creates a more balanced electricity generation profile because their production patterns complement each other across times of day and seasons. Current positioning remains focused on the energy sector, while the management team is evaluating additional opportunities in battery storage, transport, digital infrastructure and social infrastructure. The stated portfolio objective is to maintain a balanced combination of return potential, risk management and sustainable income generation.
Strengths
The fund's distinguishing feature is its open-ended structure giving investors access to unlisted European infrastructure projects with a minimum initial investment of one share in the retail RC class and entry from EUR 50 referenced in the manager commentary. Its current portfolio is concentrated in operating renewable-energy infrastructure with contracted or regulated revenue sources such as PPAs and EEG feed-in tariffs, which differentiates it from listed infrastructure strategies. The selection process is described as highly selective, with only around 5% of analysed projects reaching the final round. The fund also combines this private-markets exposure with regular annual distributions and a meaningful liquidity allocation currently at 25.0%.
Risks
The PRIIP document assigns the AC share class a summary risk indicator of 3 out of 7, described as medium-low risk, assuming a 5-year holding period. The documents identify dependence on infrastructure market developments, valuation risk, interest-rate risk, exchange-rate risk and risks from currency hedging transactions as drivers of possible declines in unit value. Liquidity risk is significant because units are subject to a 24-month minimum holding period and a 12-month notice period, with only two redemption dates per calendar year, and the management company may suspend redemptions or limit them in exceptional circumstances. Additional named risks include risks arising from investments in infrastructure project companies, credit risk, default risk, restricted availability/special price change risk, risks from direct real-estate investments where used, and potential depositor loss exposure if cash held with the custodian or other banks is not fully covered by deposit protection schemes.