UBS receives green light for Residentia acquisition

UBS Asset Management has established a new foothold in the Ticino real estate market. Real Estate Switzerland, the Swiss real estate business of UBS Asset Management, said it has received final approval to take over Residentia's fund management operations as of January 28, 2021. The acquisition has thus taken place as planned on February 1, 2021.

Residentia was established in 2009 under Swiss law and is the only fund with an investment focus on southern Switzerland. The portfolio mainly comprises residential properties in the canton of Ticino; total fund assets were around CHF 275 million as of June 30, 2020. (ah)