Procimmo: Fund merger moves closer
The merger of the Procimmo Real Estate SICAV Swiss Commercial Fund and the Swiss Commercial Fund II announced at the end of 2022 could be completed in the second half of the year.
The Procimmo Swiss Commercial Fund II, which invests in commercial, industrial and logistics real estate in Switzerland, will be converted into a sub-fund of the Procimmo Real Estate SICAV as of May 31. This has now been approved by the financial supervisory authority Finma.
This is the first step in the planned merger with the Swiss Commercial Fund sub-fund, which Procimmo expects to take place in the second half of the year. Procimmo had already announced its intention to merge the two commercial real estate funds in December 2022.
The merger should bring benefits to shareholders, such as cost reduction, risk diversification and better investment performance. According to Procimmo, the new sub-fund will be the largest portfolio of commercial, industrial and logistics real estate in Switzerland. (ah)
