UBS AM will manage the Residentia fund in the future
UBS Asset Management will take over the fund management of Residentia, the only listed real estate fund focused on southern Switzerland, on February 1, 2021.
With the move, Real Estate Switzerland, the Swiss real estate business of UBS Asset Management, strengthens its presence in the Italian-speaking part of Switzerland, UBS says.
The Residentia Fund was established in 2009 by Matteo Pagani and Banca dello Stato del Cantone Ticino under Swiss law. It is considered the only fund on the market with an investment focus on southern Switzerland. The portfolio mainly comprises residential properties in the canton of Ticino; total fund assets amount to around CHF 275 million (as of June 30, 2020).
UBS will take over fund management from FidFund Management. UBS Switzerland will act as custodian bank. In the areas of real estate management and investor relations, Pagani Real Estate will support the fund management company. (ah)
