Bonhôte-Immobilier: Assets rise, earnings fall
The Bonhôte-Immobilier real estate fund increased its total assets in the 2017/18 financial year from 926 million CHF at last count to 950 million CHF now. However, net income fell year-on-year from 19.6 to 19.1 million.
As shown in the annual report of Bonhôte-Immobilier, rental income also decreased from 50 to 49.6 million. The net asset value as of March 31, 2018 - including costs for appraisals and acquisition of properties - increased to CHF 117.95 per unit compared to 2017.
On June 15, 2018, one share of Bonhôte-Immobilier traded on the stock exchange at around CHF 140.90. On this price basis, the premium to net asset value is 19.45 percent, which is below the average for listed real estate funds.
The dividend is expected to remain unchanged from the previous year at CHF 3.14. As in the 2016/17 financial year, investors can choose between a cash dividend and new fund units. Last year, Bonhôte-Immobilier proposed this option for the first time and, according to the fund management company, around 54 percent of unit holders received their dividend in the form of units. This corresponds to 86,953 new units. As a result, the investment fund received around 10 million.
Bonhôte-Immobilier is a Swiss investment fund that invests primarily in western Switzerland. 75 percent of its rental income comes from apartments, just under 20 percent from commercial or office premises, and 6 percent from garages and other properties.
