UBS-Swissreal increases rental income by 4.5% in 2023
The performance of the fund, which focuses on commercial real estate, exceeded the benchmark, although devaluations had a strong impact on the overall performance.
The UBS (CH) Property Fund Swiss Commercial ("Swissreal") reduced the rental loss rate to 3.8% in the 2023 financial year. In contrast, rental income increased by around CHF 4.5% to CHF 106.4 million and the market value of the portfolio rose by CHF 1.8% to around CHF 2.16 billion. The distribution yield reached a value of 4.3% with a stable distribution of CHF 2.65. The negative premium, the difference between the market price and the net asset value, improved from -4.8TP3T to -0.6% over the course of the year. Including the distribution, the annual performance amounts to 7.2% and is therefore 2.2 percentage points above the benchmark SXI Real Estate Funds TR.
The fund's net income improved slightly from around CHF 65.0 million to around CHF 65.6 million. Total income, on the other hand, fell significantly from CHF 66.4 million to CHF 39.8 million. Devaluations totaling CHF 25.8 million were noticeable here. In the previous year, the portfolio had been revalued by CHF 1.5 million. (aw)
