Swiss Life REF Swiss Properties presents annual result
Swiss Life REF (CH) Swiss Properties posted a "pleasing result" in its first financial year following its listing in June 2019, Swiss Life Asset Management said.
As of the end of September 2019, Swiss Life REF (CH) Swiss Properties has over 88 properties with a market value of around CHF 1.26 billion in its portfolio - an increase of 87% compared to the previous year. The reason for this strong growth was largely the purchase of a real estate portfolio with 38 properties at around 500 million as of the end of 2018 and the purchase of three additional properties in the past financial year, Swiss Life Asset Management said.
The market value of properties held in the portfolio throughout the reporting period has reportedly increased by 2.5% (including investments).
The occupancy rate was 96.9%, and target rental income for the fiscal year was approximately 47.4 million.
According to Swiss Life Asset Managers, a total of CHF 23.4 million will be distributed to investors, equivalent to CHF 2.60 per unit. The distribution per unit has thus remained constant since the fund's launch. The distribution yield based on the stock market price as of Sept. 30, 2019, had been 2.04%.
The fund management company puts the net asset value per unit and the investment return as of the end of September 2019 at CHF 108.86 and 3.42%, respectively. The performance in the past financial year was 11.8%. (ah)
