Swiss Life AM launches residential fund
Swiss Life Asset Managers launches the open-ended real estate fund Swiss Life European Living and acquires an initial portfolio in Germany. The fund is distributed exclusively through German savings banks.
The open-ended mutual property fund Swiss Life REF (DE) European Living (Swiss Life European Living) was launched by Swiss Life AM via Swiss Life KVG under German law and is aimed at German private investors. They are promised a performance of over 2% (according to the BVI calculation method). The fund is distributed in Germany exclusively via Deka and thus via the German savings banks.
The new fund invests in residential properties in the mid-price segment in European metropolitan regions. It will also focus on properties aimed at different user groups, such as students, young professionals and commuters, Swiss Life AM added.
The first acquisition has already been made: The fund has acquired a German residential portfolio with a total of 533 units; the properties are located in Duisburg, Düsseldorf, Frankfurt, Cologne and Wuppertal. The properties are fully leased "except for the usual fluctuation-related vacancies," Swiss Life AM reports. (ah)
