Swiss Life REF (CH) Swiss Properties on course for growth

Swiss Life REF (CH) Swiss Properties, which was launched on November 2, 2015, generated distributable income of CHF 4.1 million in the financial year from October 1, 2016 to September 30, 2017. The distribution was maintained at the previous year's level of CHF 2.60 per unit. The market value of the properties increased from CHF 104.04 to CHF 106.35 per unit. Overall, this resulted in a return on investment of 4.8 percent.

The OTC price trended sideways in line with the general market trend and closed at CHF 121.00 per unit and a premium of 13.8%. The distribution yield amounted to 2.2 percent based on the OTC price and 2.4 percent based on the net asset value. According to the fund management, the occupancy rate increased to 97.2% (previous year: 96.11%) despite the more challenging market environment. Investments in construction projects amounted to CHF 2.4 million, 41% of which were of a value-enhancing nature.

In the 2016/2017 financial year, the "Freiestrasse 84" property in Basel was purchased; since the end of the financial year, the fund portfolio has seen three further property additions with a total value of 61.5 million: A residential property in Arbon and a commercial property in Sion were acquired in October 2017. In November 2017, the purchase of a residential project near Schaffhausen railroad station was also notarized. At the end of the financial year on 30.09.2017, the fund portfolio comprised 46 properties with a market value of 639.2 million.