Capital increase for AXA Immovation Residential
The fund management company of the AXA Immovation Residential real estate fund, AXA Investment Managers Schweiz AG, plans to issue new units in the amount of CHF 75 to 100 million in June 2018.
AXA Immovation Residential will carry out a capital increase in June of this year in order to raise additional funds for the further expansion of the investment portfolio and the repayment of short-term debt.
According to the fund management company AXA Investment Manager Schweiz AG, the issue will be carried out while safeguarding the subscription rights of existing shareholders; the exact terms of the planned capital increase will be announced at the end of May 2018.
The AXA Immovation Residential real estate fund, which is only open to qualified, tax-exempt investors in Switzerland, was launched in 2013. According to the information provided, the investment strategy is aimed at stable and continuous value growth and distribution; the investments focus on cities in high-growth economic regions and their catchment areas, with investments being made in existing properties as well as in development and construction projects. At least 80 percent of the total rental income is generated from residential use. The minimum investment for new investors is CHF 1 million (excluding ancillary costs/expenditure commission).
