HSC fund yields 3.1 percent

The HSC's net asset value is CHF 107.33, which corresponds to a return on equity in the reporting period of 5.3 percent (previous year: 4.2%). During the reporting period, the TERREF GAV decreased from 1.10 to 0.82 percent and the TERREF NAV decreased from 1.55 to 1.11 percent compared to the same period last year, Helvetica Property Investors reports.

The two capital increases in the period under review raised a total of around 165 million in new funds for the fund. The fund management company puts net income in the first half of the year at 13.7 million, 10.8 million more than in the previous period. Both higher income and lower expenses contributed to the result. The operating profit margin rose from 66.8 to 77.6 percent.

Of the total fund assets of 373.2 million, 264.1 million were invested in commercial real estate as of the reporting date. 106.5 million are held in cash and cash equivalents. After deducting liabilities (69.4 million), net fund assets amount to 298.3 million (previous year: 128.7 million). They are invested in 13 properties, which generate a gross actual return of around 6.1 percent.

The fund management is planning further capital increases, with a focus on further portfolio expansion and diversification. The listing of the fund is planned for mid-2019 at the latest, which will be an additional interesting aspect for investors, as the currently listed commercial real estate funds have high premiums, Helvetica Property Investors informs. In the first quarter of 2018, the HSC was approved by FINMA as a public fund and is thus open to all investors. (ah)