UBS: AST-IS and AST-KIS investment groups present figures
UBS Asset Management is pleased with the performance of its UBS AST-IS and UBS AST-KIS investment groups. UBS AST-IS reported an investment return of 5.5%, while UBS AST-KIS returned 3.1%.
The UBS AST Real Estate Switzerland (UBS AST-IS) investment group has increased the value of its portfolio to CHF2.49bn through the acquisition of two residential properties in Arlesheim, value-creating investments and resulting appreciation, UBS Asset Management says. That's an increase of 5.1%, it said. The investment return climbed to 5.5% from 4.7% a year earlier. The rent default rate fell from 6.5% to 6.2%, set up here are rent reductions in the wake of the Corona pandemic. Without this effect, the reported rent default rate would be 6.0% (previous year: 6.1%), according to UBS.
The investment return of the UBS AST Commercial Real Estate Switzerland UBS AST-KIS investment group fell year-on-year from 4.1% to 3.1%, with a 5-year average of 4.2%. The rent default rate increased from 6.8% to 8.0% within the year, including rent waivers in connection with Covid-19. Excluding this effect, the reported rent default rate would have been 6.5% at the end of the year (previous year: 5.1%), UBS said. The portfolio value rose to 726.8 million due to the acquisition of an office property in Baar, among other things. (ah)
