Realstone: Green light for fund merger
The financial regulator Finma has approved the merger of the funds Realstone Swiss Property and Realstone Development Fund.
In the course of the merger, the real estate portfolio of the Realstone Development Fund will be transferred to Realstone Swiss Property, to be called Realstone in the future. The Realstone Development Fund will be dissolved without liquidation.
The merger will take place as of May 31, 2021, retroactive to April 1, 2021, according to Realstone SA - based on the net asset value (NAV) of the units of both funds as of March 31, 2021. The fund contract of the new fund has also been approved by the financial regulator Finma, Realstone added. It corresponds to the fund contracts that previously applied to both funds.
From the point of view of the fund management, the new Realstone fund will benefit from greater risk diversification by type, geographical distribution and use of the properties as a result of the merger. Optimized management costs and an increase in liquidity due to a larger volume of exchange-traded units are also expected. (ah)
