Isatis Capital Vie & Retraite
Equity · Global · Private Equity
Figures refer to the share class ISIN FR0013222353, currency EUR.
Key facts
- Associated firm
- Isatis Capital
- Asset class
- Equity
- Geography
- Global
- Strategy
- Private Equity
- Share class currency
- EUR
- Share class inception
- 31.05.2017
- Fund size
- 123 million (as at 31.08.2026)
- Management fee
- 2.30%
- UCITS
- No
- Registered in Switzerland
- No (qualified investors only)
Price history
Fund rebased to 100 at 13.10.2023; benchmark rebased to 100 at 31.10.2023.
Table view
| Period | From | Fund (100 at start) | Benchmark from | Benchmark (100 at start) |
|---|---|---|---|---|
| 1Y | 15.09.2025 | 105.7 | 28.09.2025 | 110.1 |
| Since 2023 | 13.10.2023 | 120.9 | 31.10.2023 | 136.2 |
Total return: distributions reinvested.
In EUR, the currency of the share class shown.
Comparison: Compounded cash-rate comparison.
Assigned benchmark: EUR 3-month deposit + 8%. The comparison shows a compounded cash rate.
Fund history to 15.09.2026.
Benchmark history to 15.09.2026.
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
Data as of 31.08.2026.
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN FR0013222353, currency EUR | 0.66 | 1.86 | 3.56 | 4.81 | 5.18 | 9.00 | 6.56 | 6.86 | 7.35 | 4.30 | 9.34 | 0.56 | -3.40 |
| BenchmarkEUR 3-month deposit + 8% | 0.87 | 2.59 | 5.19 | 6.89 | 10.72 | 12.38 | 11.86 | 10.50 | 11.43 | 10.56 | – | – | – |
| Differencefund minus benchmark, in percentage points | -0.21 | -0.73 | -1.63 | -2.08 | -5.54 | -3.39 | -5.30 | -3.63 | -4.08 | -6.26 | – | – | – |
Within the list: OpenList — Private Markets
Compared with the equity funds on OpenList — Private Markets (3 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 | 6.86 | ||
| Return 3Y p.a. | 7.35 | ||
| 3Y p.a. over its own benchmark | -4.08 | ||
| Volatility 3Y | 9.34 | ||
| Sharpe ratio 3Y | 0.56 | ||
| Max drawdown 3Y | -3.40 | ||
| Management fee | 2.30% |
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.
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
Fund commentary
Investment rationale
Isatis Capital Vie & Retraite is a French FCPR combining private equity with a liquid investment sleeve. It targets French unlisted companies through growth capital and buyout investments. The March 2026 KID assigns a PRIIPs summary risk indicator of 3 out of 7 and recommends holding the investment for at least five years. Capital is not guaranteed. The fund is designed for long-term savings, including life insurance, retirement and employee savings arrangements, and remains exposed to the liquidity risks of unlisted businesses.
Investment strategy
The target allocation is approximately 60% to French unlisted companies, 35% to European equity funds and 5% to treasury instruments. These are targets rather than guaranteed portfolio weights. The rules permit up to 45% in daily-liquid European equity funds, excluding those mainly invested in the United Kingdom, and normally 5–15% in treasury instruments. Treasury holdings can reach 40% in specified circumstances. The fund has a 99-year life, subject to early dissolution, and accumulates income. Its net asset value is calculated twice a month; the recommended investor holding period is five years.
Investment philosophy
• Back businesses with growth potential in technology, healthcare, business services and advanced industry.
• Use equity and equity-linked instruments, including convertible bonds, in growth capital and buyout transactions.
• Invest at least 50% in eligible FCPR assets; eligible listed securities are limited to 20% of fund assets.
• Apply leverage, where used in a transaction, at portfolio-company level rather than at fund level.
• Integrate ESG assessment before investment and during ownership. The fund promotes environmental and social characteristics under Article 8 of SFDR.
The asset manager
Isatis Capital manages the fund and is authorised by the French financial regulator, the AMF. The independent manager specialises in growth capital and buyouts, supporting French smaller companies as they develop into medium-sized businesses.
Strengths
The fund combines a long-term private equity strategy with a liquid sleeve and an accumulating, evergreen structure. Twice-monthly dealing allows investors to build or reduce positions over time, subject to liquidity controls. The manager lists it as open for subscription. For insurance, retirement or employee savings accounts, availability depends on the relevant contract.
Risks
The March 2026 KID assigns SRI 3 out of 7, assuming a five-year holding period. Investors can lose capital. Unlisted holdings lack an active secondary market, and credit deterioration or default can reduce the fund’s value. Regular redemption dates do not guarantee prompt access to cash. Settlement may take up to 12 months, and redemptions can be capped or suspended. The March 2026 rules permit a gate when net redemption requests exceed 5% of net assets at a dealing date; unexecuted amounts must be requested again.