Helvetica Swiss Opportunity waives emissions
Helvetica intends to refrain from increasing the capital of its Swiss Opportunity Fund for the time being and is considering selling real estate in order to reduce the debt ratio.
The Helvetica Swiss Opportunity Fund increased the market value of its portfolio by 3.3 % to CHF 332.5 million in the first half of the year. Annualized rental income rose by CHF 1.4 million to CHF 18.2 million. The most recent acquisition was a logistics property in Studen (BE) in January. The property has long-term secured rental income of around CHF 1.0 million and a gross actual yield of 6.9%, according to the statement.
Overall success more than halved
Expenses rose by CHF 1.5 million to CHF 3.9 million, which was due to higher interest costs. These amounted to an average of 1.89% in the first half of the year. Unrealized capital gains included devaluations on the portfolio of CHF 2.9 million, while revaluations of CHF 1.0 million were recorded in H1 2022. As a result, total income fell from CHF 5.3 million in the prior-year period to CHF 2.1 million. The return on investment amounted to 1.19%, which corresponds to a decrease of 1.75 percentage points compared to the same period of the previous year. The price of the fund units fell by 9.6% to CHF 103.00. As a result, the net performance amounted to -4.4%.
Fund management considers real estate sales
"In view of the prevailing market conditions, the fund management company has decided not to carry out any further capital increase for the time being," according to a press release. The reduction of debt financing through real estate sales is also being considered. Helvetica had previously announced that a merger of the fund with the significantly larger HSC Fund was being examined, which would result in a combined fund size of over CHF 1 billion (IB reported). (aw)
