Akara Diversity PK Fund seeks fresh capital
Akara Funds AG announces the sixth capital increase for the Akara Swiss Diversity Property Fund PK. The issue volume is expected to amount to approximately CHF 200 million. The subscription period runs from May 4, 2020 to June 12, 2020.
The next capital increase is intended to broaden the fund's base while maintaining healthy growth, according to Akara Funds AG, a company specializing in real estate fund development, asset management and real estate services. The aim is to consolidate the investment strategy, geographic and sector diversification, to expand the investor base to increase the liquidity of the securities, as well as to finance upcoming new construction projects and to reduce the leverage ratio.
Akara Funds AG has analyzed possible effects of the coronavirus situation on the fund. Based on the risks evaluated in the simulations and thanks to the purchases already made in 2020, as well as the presumably realizable real estate pipeline, it can offer investors and new investors the opportunity to invest in real estate even in the current situation and plans to issue new shares in Akara Diversity PK. The subscription period for the upcoming capital increase, which will be the sixth in total, runs from May 4, 2020 to June 12, 2020, and the payment is planned for June 26, 2020. An issue volume of around CHF 200 million is targeted. Detailed terms and conditions will be published in advance.
Two issues - the fourth and fifth capital increase in total - took place in fiscal 2019. All 274,890 shares issued were fully subscribed, resulting in 903,210 shares outstanding as of the balance sheet date. As a result of these two capital increases, the Fund received new equity totaling 296.47 million in fiscal year 2019. As of the balance sheet date, total fund assets are 1.27 billion, total fair value of land is 1.25 billion, and net fund assets are 984.92 million. The debt financing ratio is 18.68%.
According to the fund management, the investor base was increased by 36%, i.e. 26 new investors. The units are distributed among a total of 99 investors, with the three largest investors holding around 43%, the five largest investors around 53% and the ten largest investors around 70% of the units. The net asset value per unit at the balance sheet date is CHF 1,090.47. (bw)
