Swiss Life: REF ESG Swiss Properties increases net income
In the Swiss Life REF (CH) ESG Swiss Properties fund, devaluations resulted in a slightly lower net asset value. Net income, on the other hand, increased.
The listed real estate fund reduced the vacancy rate from 2.3 to 1.6% in the 2022/2023 financial year. The portfolio grew due to the purchase of a portfolio of 15 properties from Swiss Life AG, while five smaller properties were sold with a capital gain of CHF 3.8 million. In combination with the portfolio growth, both rental income (+10.5%) and net income increased, rising by 15.9% to CHF 44.0 million. The net asset value per unit fell by CHF 1.6% to CHF 113.73. The properties held in the portfolio over the entire reporting period showed a slightly negative performance of 1.4% after deduction of investments. At the end of September, the real estate portfolio consisted of 161 existing properties with a market value of CHF 2.5 billion. The debt ratio rose from 20.37 to 26.05% over the course of the year.
Together with the gains on sales, the realized profit amounts to CHF 47.9 million, of which CHF 42.1 million will be distributed to investors, which corresponds to a ratio of 95.6%. The distribution yield based on the share price is thereforeTP3T 2.211. (aw)
