Procimmo Fund PSCF is now a SICAV
The real estate fund Procimmo Swiss Commercial Fund has completed its transformation into an investor class of a new SICAV.
Following the approval of the financial supervisory authority FINMA, the transformation of the fund into a SICAV has taken place as of April 21, 2021. The SICAV bears the name Procimmo Real Estate SICAV with the investor class Swiss Commercial Fund. The full name is Procimmo Real Estate SICAV - Swiss Commercial Fund, the ticker symbol remains PSCF.
The structural change will also allow investors to participate more in the development of the SICAV, for example by having more social rights at general meetings than in the current structure, Procimmo says. In addition, it is expected to increase management efficiency.
After the transformation, FidFund Management SA remains the fund management company, just as Procimmo continues to act as asset manager. KPMG in Geneva also remains the auditor.
The total fund assets of PSCF amount to over CHF 1 billion. The fund invests primarily in commercial real estate, especially in commercial and industrial properties outside city centers. The focus of the investment strategy is on easily accessible locations that are close to highways, as well as properties with high appreciation potential. (ah)
