Patrimonium fund PSREF increases income but makes less profit
The Patrimonium Swiss Real Estate Fund increased its rental income and net asset value in the 2022/23 financial year. Net profit remains slightly below the previous year's figure.
The listed real estate fund Patrimonium Swiss Real Estate Fund (PSREF) generated rental income of CHF 48.82 million in the 2022/23 financial year, which ended on March 31, 2023 (previous year: CHF 47.55 million). The net asset value (NAV) per unit increased from CHF 146.76 (after distribution) to CHF 151.33. A dividend of CHF 4.00 per unit will be paid out.
Net profit amounted to CHF 18.52 million after CHF 19.99 million in the previous year, according to the annual report. The rental loss rate fell from 4.54% to 4.43%.
According to a press release accompanying the annual report, the fund's income growth of 2.7 percent or CHF 1.26 million benefited from an industrial property in Kloten (ZH) with conversion potential acquired in October 2022 with the Patrimonium Investment Foundation and from the letting of new apartments in completely renovated buildings. The development projects - the spinning mill in Baar (ZG) and a conversion project in Renens (VD) - are also making progress. Planning permission for the conversion project in Renens was granted in April.
The market value of the real estate portfolio, which consists of 70 properties, has increased and now stands at CHF 1.18 billion (previous year: CHF 1.13 billion). (ah)
