Procimmo Swiss Commercial Fund 56 yields over 7%
Procimmo Swiss Commercial Fund 56 reported an investment return of 7.34% and a return on equity of 7.15% for the 2019 fiscal year.
According to the fund management company, the return on investment increased from 6.15% in fiscal year 2018 to 7.34% now. Return on equity climbed from 5.93% at the end of 2018 to 7.15%.
In fiscal 2019, total income was around CHF 19.23 million, compared with CHF 16.38 million in the previous year. This compares with expenses of 7.08 million (previous year: 5.60 million). Net income increased from 10.77 to 12.15 million, and rental income rose from 15.12 to 17.98 million.
As of December 31, 2019, the net asset value (NAV) was CHF 117.00 per unit (previous year: CHF 114.00). The dividend of CHF 5.10 per unit is to be distributed on April 30, 2020. The distribution yield amounts to 4.15% (PY: 4.27%).
Procimmo Swiss Commercial Fund 56's leverage ratio reportedly drops from 40.94% to 34.48%, while the operating profit margin declines from 71.59% to 70.14%. The rent default rate also drops from 14.20% to 12.46%. TER REF (GAV) is 0.83%, down from 0.81% a year earlier. Total fund assets are reported at 393.9 million as of December 31, 2019, while net fund assets are 257.3 million. (ah)
