Helvetia Swiss Property to grow to over CHF 1 billion through new capital increase
The performance of the Helvetia (CH) Swiss Property Fund since launch in 2020 is 17.6%. The second capital increase is scheduled for the 1st half of 2023.
As with the first capital increase, the plan is to acquire a real estate portfolio from Helvetia Versicherungen. As a result, the market value of the fund portfolio is expected to grow from CHF 850 million to over CHF 1 billion.
The start of the third financial year has been successful, the fund management announces. The rent default rate as of June 30 was a low 2.4%. The unaudited indicative net assets of the real estate fund increased to CHF 667 million as of the reporting date. The fund's share price in over-the-counter trading was CHF120.00 as of June 30, representing a performance of 17.6% since launch in June 2020. The benchmark index SXI Real Estate Funds Broad (SWIIT), which recorded a performance of 2.6% over the same period, was thus far outperformed.
The fund's investment focus is on quality residential properties in Switzerland's large and medium-sized cities and their agglomerations, supplemented by mixed-use and commercial properties. Currently, the fund has 39 properties in its portfolio. (aw)
