Patrimonium Swiss Real Estate Fund: Investment return of 5.9%

The performance of the Patrimonium Swiss Real Estate Fund (PSREF) is estimated at 8.05% for the 2019/20 financial year. According to the information provided, rental income increased from CHF 41.7 million to CHF 43.5 million and the net asset value (NAV) per unit after distribution rose from CHF 131.19 to CHF 135.27. This corresponds to a return on investment of 5.89%, according to Patrimonium Asset Management. The dividend amounts to CHF 3.65.

The growth in rental income was partly due to the letting of apartments in an increased property in Lausanne, the full rental income from properties in Renens (VD) and Vevey (VD) and the rental income from an acquired property in Lausanne. According to Wüest Partner, the average rent increase potential of the residential properties is around CHF 54/sqm per year.

As the acquisition of existing properties in compliance with the fund's investment criteria is proving to be challenging, growth is to be secured with, among other things, extension projects in Meyrin (GE), Geneva and Bulle (FR) as well as construction projects in Montreux (VD), Crissier (VD) and Basel-Stadt. Additional rental income of around 5.7 million is expected over the next two years.

As at March 31, 2020, the PSREF portfolio consisted of 51 residential properties, eight mixed-use properties, five commercial properties and four new construction projects. It has a total value of 980 million (previous year: 903 million). (ah)