Mobifonds Swiss Property increases earnings
Mobifonds Swiss Property reports net income of around CHF 14.6 million for its seventh financial year - compared with CHF 10.6 million in the previous year.
According to Mobiliar Asset Management, Mobifonds Swiss Property owns a total of 21 properties as of September 30, 2019. Of these, 15 are fully operational, the first stage of a development in Bulle is in operation, and the realization or project planning is underway for five other projects.
A total of around CHF 688 million was invested in real estate as of the balance sheet date, CHF 68 million more than in the previous year.
For the financial year just ended, the Fund reported net income of around 14.6 million, a significant increase on the previous year (10.6 million). Rental income was 23.9 million (previous year: 19.5 million). The rent default rate decreased from 7.9% to 6.2% in the same period.
The net asset value per unit as of the balance sheet date was reportedly CHF 120.95 (previous year: 115.45) and the investment return was 6.19%. Investors will receive a distribution of CHF 2.15 per unit. The distribution yield is thus 1.78%. (ah)
