Zurich Invest AG: ZIF Immobilien Direkt goes public
The ZIF Immobilien Direkt fund will soon be listed with a portfolio worth around 1.4 billion.
Zurich Invest Ltd (ZIAG) plans to list ZIF Real Estate Direct Switzerland on the Six Swiss Exchange on November 7. The corresponding listing application has been approved by the stock exchange. The approval of the Swiss Financial Market Supervisory Authority Finma for the retailization is expected in the next few days.
Until listing, only qualified investors can invest in the fund. From the date of listing, the fund will be open to all investors. Upon listing, the fund is expected to be included in the "SXI Real Estate Broad" and "SXI Real Estate Funds Broad" indices.
62 properties in the portfolio
The fund's portfolio consists of 62 properties throughout Switzerland and is reportedly broadly diversified in terms of region, location and age. The market value as at the end of the financial year on June 30 was CHF 1.39 billion. Most of the properties in the portfolio are located in major Swiss cities - in good locations, according to the statement. In terms of use, the fund focuses primarily on the residential category. "The portfolio strategy continues to focus on optimizing current income, planning and implementing complete renovations to tap potential and implementing sustainability goals," writes the fund management company. ZIAG is thus aiming for further growth from the portfolio and progress in property and portfolio quality. (aw)
