Swiss Life Fund reduces vacancy rate

The Swiss Life REF (CH) ESG Swiss Properties real estate fund further reduced its vacancy rate in the 2021/2022 financial year: it now stands at 2.3%, compared with 3.2% in the previous year. Rental income increased by 22% to CHF 83.9 million (previous year: 68.7 million), partly because the real estate portfolio grew.

The fund holds 151 portfolio properties with a market value of CHF 2.35 billion. The properties held in the portfolio over the entire reporting period experienced a positive performance of CHF 51.6 million in total, corresponding to 1.4% (net, after deduction of investments). The net asset value per unit (including distribution) increased by 2.0% to CHF 115.60 (PY: CHF 113.36).

17 new acquisitions, two sales

Swiss Life REF (CH) ESG Swiss Properties has newly acquired a portfolio of 17 properties from Swiss Life AG. Two properties in Sins (AG) and Sursee (LU) were sold - with "high capital gains", according to Swiss Life Asset Managers.

The realized profit in the financial year 2021/2022 amounted to CHF 52.2 million. Of this amount, CHF 42.1 million (80.7%) will be distributed to investors, CHF 2.60 per unit. This corresponds to a distribution yield based on the stock market price of 2.11% (as of September 30, 2022) and 2.25% based on the NAV

Swiss Life Asset Managers also says that it has reduced Livit's management fee from 4.0% to 3.8% of actual rental income in line with portfolio growth. In addition, the management fee will be reduced from 0.62% to 0.60% of total fund assets starting next year, it said. (ah)