Swiss Finance & Property: SF Sustainable Fund increases portfolio value by almost ten percent
Swiss Finance & Property has presented fund business figures. All three SF Property Funds increased their portfolio values in 2022, most notably SF Sustainable.
SF Sustainable Fund: Rental income increased by 13.3 %
The SF Sustainable Property Fund increased its portfolio value by 9.95% to CHF 1.54 billion in fiscal year 2022. Eight properties were acquired at a purchase price of CHF 104.4 million and two properties were sold at HF 6.4 million. While rental income increased by 13.3%, vacancy decreased, to 5.2%.
Total income increased from CHF 49.6 million in the previous year to CHF 52.6 million. Net income, however, decreased from CHF 29.4 million to CHF 28.7 million. The investment return at the end of the year was 4.18% (previous year: 5.64%), the performance -14.35% (previous year: +1.80%).
SF Commercial Fund: Rental income increased due to indexation
SF Commercial Properties Fund reduced vacancy from 15.7% to 14.1% in FY2022. The portfolio remained unchanged, consisting of 18 properties with a leasable area of 156,756 sqm. Its market value increased from CHF 326.7 million to CHF 328.4 million, and total fund assets increased from CHF 331.13 million to CHF 333.86 million. After the balance sheet date, the property at Weststrasse 15 in Weinfelden was sold for CHF 7.15 million. Total income increased from 16.1 to 16.8 million CHF, rental income improved by 4.0% to 16.6 million CHF. In addition to the reduction in vacancy rates, this was due to rent adjustments resulting from indexation. The net income of the fund increased slightly from 9.7 to 9.9 million CHF, the investment return amounts to 3.00% (previous year: 3.98%). The performance fell from +5.25 to -4.42%.
The fund also announces a change of management company. From April on, the properties will be managed by H&B Real Estate AG, Zurich.
SF Retail Fund: rental income down slightly, vacancy rate up minimally
SF Retail Properties Fund reports stable portfolio valuation at CHF 882.9 million (PY: CHF 869.4 billion) for fiscal year 2022 despite higher interest rates. Net fund assets increased by 1.4 million to 634.4 million CHF. Net income amounts to CHF 28.4 million, which corresponds to an increase of 3.00% per unit. The distribution yield is 4.30%, the performance -16.57% (PY: +8.30%). The fund purchased two properties, one in Winterthur and one in Zurich-Wollishofen with a total market value of CHF 7.7 million. Furthermore, a new construction project in Flawil (SG) with a planned construction volume of CHF 18.1 million was acquired. The fund sold ten properties, with a capital gain of CHF 2.24 million.
Target rental income was CHF 46.4 million, while rental income declined minimally from CHF 42.85 million to CHF 42.74 million. The vacancy rate as of December 31 increased slightly by 0.46 percentage points to 5.95% compared to the previous year. (aw)
