Swissinvest: Investment return of almost 11%
In the 2020/21 financial year, the Swissinvest Real Estate Fund increased its net asset value by 7.5% to CHF 154.95 per unit, corresponding to an investment return of 10.83%.
According to information from Pensimo Fondsleitung AG, the Swissinvest Real Estate Fund posted a performance of 22.69% over the past 2020/21 financial year; the return on investment was 10.83% (basis: net asset value). The market value of the properties increased from 1.03 billion to 1.14 billion, and rental income increased from 41.4 million to 42.7 million - of which 73.9% came from residential uses. At 4.12% of the target net rental income, the rental loss rate was slightly above the previous year's level (previous year: 4.09%).
In the past financial year, Swissinvest acquired an office property with a market value of CHF 57.7 million "in a prime location in the city of Zurich", according to Pensimo. Four smaller properties with a total market value of 16.1 million were sold as part of a portfolio adjustment, resulting in a capital gain of 8.1 million. A total of 15 million was invested in portfolio properties.
In connection with the Corona pandemic, nine requests for rent waivers or deferrals were received in the period from 1 July 2020 to 30 June 2021, according to Pensimo. This compares with 52 in the previous year, it said, adding that a total of CHF63,725 in pandemic-related rent waivers had been granted, equivalent to 0.14% of the target rental income. Rent of CHF 50,339 had been deferred. The further development of the pandemic and its impact on rental income is difficult to estimate, writes the fund management in a statement. However, based on previous experience, the income structure of the fund with its focus on housing and the extended support measures of several cantons and the federal government, it is of the opinion that the effects should be rather limited even in the event of a renewed lockdown in the coming financial year. (ah)
