Truststone: Fund distributes dividend for the first time
With a net result of CHF 1.18 million for the second financial year, the Truststone Real Estate fund intends to pay a dividend to its investors for the first time.
The real estate fund Truststone Real Estate SICAV increased its rental income from CHF 3.4 million to CHF 3.7 million in the second financial year ending March 31. The net result amounted to CHF 1.18 million. In the first financial year, which was, however, extended to 18 months, the fund had generated CHF 3.4 million. The fund now intends to distribute a dividend for the first time, namely CHF 1.14, which corresponds to a dividend yield of 1.64%.
Truststone acquired properties worth CHF 7.74 million in the financial year. Together with a building permit received for an extension with energy-efficient renovations, the total market value of the real estate portfolio was increased by CHF 10.4 million. Total fund assets grew from CHF 101.5 million to CHF 109.8 million.
Portfolio now worth CHF 106 million
At the end of the financial year, Truststone's real estate portfolio consisted of five residential properties (31.6% of the market value), two mixed-use properties (17.9%) and four commercial properties (50.5%) with a total market value of CHF 105.7 million as well as a loan secured by a promissory note for a construction project of CHF 2 million. In the medium term, the commercial property in Muttenz / BL is to be converted into a mixed-use property, which will reduce the proportion of commercial properties in the fund. The debt-equity ratio is 27% (previous year: 28%) with a stable average interest rate of 1.67%.
The fund launched by Patrimonium invests in the risk segments Core-Plus, Value-Add and Opportunistic. (aw)
