Procimmo fund yields 6.5 percent
The Procimmo Swiss Commercial Fund closed the financial year with an investment return of 6.51 percent, compared to 4.95 percent in 2015.
At the end of June 2016, the net asset value was CHF 130.90 per unit, an increase of CHF 3.10 compared to the same period of the previous year.
Rental income increased by over CHF 2.2 million to around 55.2 million, and total income amounted to around CHF 59 million as of the end of June 2016 (2015: 54 million). At the same time, total expenses were 31.8 million (2015: 29.9 million). The rent default rate remained stable at 14.69 percent (2015: 14.72%).
As of June 30, 2016, shareholders' equity was approximately CHF 632 million and the fund's total assets were CHF 910.4 million - an increase compared to the previous year (617 million and 902.5 million, respectively).
Johny Rodrigues, asset manager of the Procimmo 1 fund, calls the results "a positive consequence of the strategy related to the value added by the buildings and the quality of acquisitions and realized developments." (ah)
