Swisscanto: Commercial Fund with significantly higher overall performance
The fund's net income fell in the 2024 financial year, while the valuation result improved significantly.
The Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial increased its total income from CHF 9.1 million to CHF 19.3 million in the 2024 financial year. This was due to a positive valuation result of CHF 0.8 million (previous year: CHF -9.9 million). Net income, on the other hand, fell slightly from CHF 19.1 million to CHF 18.7 million. While income increased from CHF 33.6 million to CHF 34.1 million, expenses rose somewhat more sharply from CHF 14.5 million to CHF 15.4 million, partly due to higher financing costs. There was an improvement in the rental loss rate (5.8%, compared to 6.2% in the previous year) and in the return on investment, which rose from 1.8% in 2023 to 3.9%. The fund will again distribute CHF 4.15 per unit for the 2024 financial year.
No purchases were made. At the end of the year, the 30 properties had a market value of CHF 738.4 million on the books (previous year: CHF 733.4 million). According to the fund management, the focus in the past financial year was on improving the letting situation and optimizing the portfolio. For example, the vacancy rates at the properties in Bussigny (Boulevard de l'Arc-en-ciel 36), Root (Oberfeld 15-17) and St. Gallen (Heiligkreuzstrasse 5) were reduced. In addition, early renewals of existing tenancies were achieved with major existing tenants in Vevey (Rue de Lausanne 31), Lachen (Alpenblickstrasse 25) and Uzwil (Bahnhofstrasse 82). The only sale concerned a condominium share of the property at Laurenzenvorstadt 95 in Aarau (sale price: CHF 2.5 million). (aw)
