HSC Fund plans to go public in November
The real estate fund Helvetica Swiss Commercial Fund (HSC Fund) is to be listed on the SIX Swiss Exchange on November 11, 2019. This is announced by the fund management Helvetica Property Investors.
The HSC Fund was launched in 2016 and approved as a mutual fund by the financial regulator Finma in early 2018. The listing, scheduled for Nov. 11, is expected to allow investors to benefit from increased liquidity and visibility of their fund units, Helvetica Property Investors said. Upon listing, the fund will be included in the "SXI Real Estate Broad" and the "SXI Real Estate Funds Broad."
"When we launched the HSC Fund in 2016, we promised our investors that we would list the fund on the SIX Swiss Exchange after three years. I am very pleased that we are now able to bring the HSC Fund to the SIX Swiss Exchange and thus keep our promise," says Hans R. Holdener, CEO and Managing Partner of Helvetica Property Investors.
The statement goes on to say that the HSC Fund is aiming for a high payout ratio in the long term. However, the amount of the dividend will be definitively measured against the fund's liquidity reserves. A higher dividend than in the previous year is to be paid out for the 2019 financial year.
The planned listing of the fund is still subject to approval: Finma must approve the fund contract amendments and SIX Swiss Exchance must approve the listing application. After the listing, the market making of the fund units is to be ensured by Bank J. Safra Sarasin.
The HSC Fund currently holds properties with a market value of around CHF 600 million. By the end of 2019, the value is expected to increase to around 700 million due to acquisitions. The fund invests primarily in commercial properties in central locations in Swiss conurbations. (ah)
