1291 The Swiss Investment Foundation on a Growth Path

The 1291 Swiss Investment Foundation increased its net income from CHF 0.3 million in the 2018/19 financial year to CHF 8.2 million. The real estate portfolio was diversified through the acquisition of 20 residential properties, two mixed-use properties and one commercial property. As at June 30, 2020, the portfolio comprised a total of 29 properties. Compared to the previous year, fixed assets increased by more than 300 million to 418.0 million (previous year: 116.7 million). Annual target rental income increased from 3.4 million to 14.6 million; 77% of income comes from residential use.

Due to the high proportion of residential properties in the portfolio, the impact of the coronavirus crisis was "manageable". Individual solutions have been agreed with tenants of commercial properties. In total, rent waivers of around 0.1 million have been granted to date, which corresponds to 0.6% of the portfolio's annual target rental income.

Compared to the previous year, net assets increased by 224% from 94.1 million to 305.0 million. The net asset value per unit before distribution amounted to CHF 111.89 (previous year: CHF 106.25), resulting in a return on investment of CHF 5.31% for the 2019/20 financial year. A distribution of CHF 2.50 per unit is planned. As at June 30, 2020, 49 tax-exempt pension funds with 60 investment vehicles were invested in the investment foundation, compared to 27 pension funds in the previous year.

In order to finance further growth, 1291 is currently carrying out a capital increase with a target volume of up to around 100 million. The subscription period ends on August 31. According to the investment foundation, there are already "various very attractive acquisition targets" in the pipeline. (ah)