Axa Real Estate Fund raises target for first capital increase
Instead of 150 to 200 million, the newly merged "Real Estate Fund Switzerland" now wants to raise up to 280 million francs. Axa justifies this with the existing investment opportunities.
The fund management company of the merged Axa Real Estate Fund Switzerland is carrying out an initial capital increase of up to CHF 280 million from June 3 to June 21, 2024. The funds from the issue will be used for acquisitions, refurbishments and projects.
The fund intends to raise up to CHF 280 million by issuing a maximum of 276,039 new fund units. Payment of the new units is planned for June 28. Axa has increased the planned issue volume compared to an initial announcement in March. At that time, only a sum of CHF 150 million to CHF 200 million was mentioned (IB reported). The change was decided "taking into account the current investment opportunities".
The Axa Real Estate Fund Switzerland is the result of the merger of the three real estate funds Axa Vorsorge Fonds Immobilien Schweiz, Axa Immovation Residential and Axa Immovation Commercial and has total fund assets of around CHF 4.78 billion. (aw)
