Capital increase for Swiss Life REF (CH) Swiss Properties
The Swiss Life REF (CH) Swiss Properties real estate fund generated net income of CHF 11.86 million in its first financial year. A capital increase is planned for January.
As Swiss Life Asset Managers announces, a capital increase for Swiss Life REF (CH) Swiss Properties is to be carried out between 10 and 18 January. A maximum of 900,000 units will be issued at an issue price of CHF 104.37. The issue thus has a volume of CHF 93.9 million. The fund management intends to use the proceeds to further expand the real estate portfolio.
Five existing shares entitle the holder to subscribe to one new share. The issue will be carried out on a commission basis ("best effort basis"). No subscription right trading takes place during the subscription period; the subscription right price is determined at the end of the subscription period by dividing the difference between the average of the bid prices during the subscription period and the issue price of a fund unit by 5. If this calculation does not result in a positive value, the value of the subscription right will be zero, Swiss Life Asset Managers announces. The new units will be paid on 30 January 2017.
Successful first business year
Swiss Life REF (CH) Swiss Properties closed its first financial year, shortened to eleven months, with an investment return of 4.04%. The net asset value per unit was CHF 104.04 as at the balance sheet date (30 September 2016). Net income was CHF 11.86 million, with CHF 2.60 per unit distributed to investors. The fund had a volume of CHF 595 million at the end of the financial year.
In the 2015/2016 financial year, three properties were acquired with a purchase price of CHF 62.57 million. After the end of the financial year, the fund also purchased a commercial property on Freie Strasse in Basel as of 1 December 2016. Further acquisition opportunities from all over Switzerland are being examined on an ongoing basis, the fund management informs.
Swiss Life REF (CH) Swiss Properties was launched at the end of 2015 and invests primarily in residential properties and selected commercial properties, preferably located in Swiss cities or their agglomerations.
