UBS: Direct Residential remains independent after all

The announced mergers among the UBS Group's real estate funds following the takeover of Credit Suisse are becoming more concrete. UBS Fund Management has announced that the Living Plus, Hospitality and Residentia vehicles are to make a start and operate under the name UBS Living Plus as of the end of June. The focus of the newly combined fund includes alternative forms of housing such as retirement and nursing homes, retirement residences, micro-apartments, serviced apartments, housing with services and educational real estate such as student housing. The investment vehicle then claims the title of the largest directly holding Swiss residential real estate fund and comprises over 150 properties with total fund assets of around CHF 4.4 billion. Unlike originally communicatedUBS Direct Residential will continue to exist in its current form. Its focus is defined by apartment buildings in the catchment areas of Zurich, Basel and Bern. At the end of 2024, the fund comprised a portfolio of 84 properties with a market value of around CHF 1 billion.

Following the integration of Credit Suisse Funds AG, UBS's fund management currently manages 14 real estate funds in the Swiss market. Last November, it presented its plans to merge funds with similar investment strategies. Following the merger of the residential funds, the two exchange-traded mixed-use Swiss real estate funds with direct real estate holdings (UBS Green Property and UBS Direct Urban) and the two exchange-traded commercial Swiss real estate funds with indirect real estate holdings (UBS "Swissreal" and UBS "Interswiss") are to be merged in 2026/27. (aw)