Swiss Life AM launches European residential fund

Swiss Life REF (DE) European Living will be launched as an open-ended mutual property fund under German law, Swiss Life AM announced. Swiss Life Kapitalverwaltungsgesellschaft, which is part of the company, will be responsible for fund management, buying and selling, and asset management, among other things.

The fund is to be launched at the beginning of October and will be distributed exclusively via Deka and thus via the German savings banks. Swiss Life and Deka announced this sales cooperation back in July.

European Living aims to invest in traditional residential properties, but will also include properties targeted at different user groups such as students, young professionals and commuters. The aim is to build up a European real estate portfolio in the mid-price segment comprising properties with good transport links.

Swiss Life KVG is launching European Living, its second open-ended mutual real estate fund under German law within three years. Swiss Life REF (DE) European Real Estate Living and Working was launched at the end of 2016 and, according to the company, now has a fund volume of more than EUR 400 million. (ah)