Fund: Stock market launch for Swiss Central City
The Swiss Central City Real Estate Fund goes public. It will be traded on the SIX Swiss Exchange for the first time on 13 December.
Three years after its launch on 5 December 2018, the Swiss Central City Real Estate Fund is moving to the SIX Swiss Exchange. With the listing, the mutual fund will also be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices.
"We are delighted with the IPO of the Swiss Central City Real Estate Fund on the SIX Swiss Exchange and will continue to pursue our successful growth strategy," says Marcel Schneider, CEO of Nova Property Fund Management.
The fund invests in properties in prime locations in Switzerland's major economic centres and currently has a portfolio with a market value of over CHF 400 million. The fund management intends to continue expanding this portfolio. A distribution of CHF 2.50 per fund unit is currently planned for the 2021 financial year, compared with CHF 2.10 per unit in the previous year. With the expansion of the property portfolio and the completion of new projects, the distribution should also increase in the future, according to the fund management. (ah)
