Swisscanto: Commercial funds with higher overall performance
Although the net result fell slightly in the first half of the year, lower devaluations had a positive impact on the overall result.
The Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial reduced its vacancy rate from 6.5 to 5.9% in the first half of 2024 thanks to several new lettings. Rental income increased slightly from CHF 16.6 million to CHF 16.7 million and the EBIT margin improved noticeably from 72.6TP3T to 75.1%. Net income, on the other hand, fell from CHF 9.5 million to CHF 9.3 million. The increased refinancing costs were largely offset by the higher income, according to the statement.
The portfolio value had to be devalued by 0.2% net. This was due to an increase in the discount rate of three basis points. Despite the devaluation of CHF 1.5 million, total income rose from CHF 5.4 million to CHF 7.8 million. This is due to the fact that unrealized capital losses of CHF 4.1 million were significantly higher in the prior-year period.
Net fund assets amounted to CHF 504.0 million at the end of the first half of the year (previous year: CHF 517.8 million). At +5.4%, the fund's performance on the financial market was above the SWIIT Index benchmark. (aw)
