New President for the HIG Real Estate Investment Foundation
On December 3, 2020, the Investors' Meeting of the HIG Real Estate Investment Foundation elected Dr. Ernst Mäder as the new Chairman of the Foundation Board. He succeeds Franz Steinegger.
Franz Steinegger headed the Board of Trustees of the HIG Real Estate Investment Foundation for 28 years, now he hands over the office to Dr. Ernst Mäder. Mäder is an independent consultant for pension funds and institutions in the field of asset management. Until mid-2019, he worked for around 20 years at the Swiss Accident Insurance Fund Suva, where he headed the Finance Department.
HIG further states that the portfolio has held up well in the current difficult market environment with rising property prices, higher vacancy rates and a strengthened tenant market. In the course of the Corona crisis, challenges had been faced in the settlement of leases for commercial properties, but a fair balance had been found.
The HIG portfolio was expanded by two residential properties in La Tour-de-Peilz in the canton of Vaud and one residential property in the Planpalais district of Geneva. According to the annual report, a distribution yield of 4.92% was achieved in the 2019/20 financial year. (ah)
