Axa launches new real estate fund
Axa Switzerland launches Axa Vorsorge Fonds Immobilien Schweiz, a mixed real estate fund with a high proportion of residential properties.
The Axa Vorsorge Fonds Immobilien Schweiz is to be broadly diversified in terms of location, use and tenant structure, Axa Switzerland says. The focus is on properties in central locations within metropolitan areas; this enables a low average vacancy rate and stable rental income. Currently, the fund volume is around CHF 1.7 billion, according to Axa.
The fund aims for stable and continuous performance and distribution and is open only to certain qualified tax-exempt investors in Switzerland. The valuation of the fund's units is based on net asset value (NAV), which reduces volatility, Axa adds.
It also states that all real estate investments are managed in accordance with ESG guidelines. In new buildings and renovations, great importance is attached to high energy efficiency and care is taken to create living space for all sections of the population and generations. The properties are managed by Axa Investment Managers.
