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Improved earning power accompanies planned listing
The Helvetia (CH) Swiss Property Fund recorded a successful first half of the 2023/2024 financial year as at 31 March 2024, recording net income of CHF 11.49 million. The rental situation continues to be very comfortable, and the portfolio's already low rent default rate fell once again from 2.48% as at 30 September 2023 to 2.29% as at 31 March 2024 - a below-average level compared with the competition. This is attributable to sustained demand for housing, the attractive location of the properties and active rental management.
The fund generated realized gains of CHF 0.37 million from the sale of a small property that no longer fit with the strategy; this property had a market value of CHF 2.65 million as at 30 September 2023. As at 31 March 2024, realized gains and the associated distributable income totalled CHF 11.86 million, which equates to an encouraging CHF 1.46 per unit. Distributable income for the previous financial year as a whole amounted to CHF 2.78 per unit.
This positive operating result was offset by a moderate, negative change in the value of the property portfolio. Unrealized capital losses amounted to CHF 3.52 million. This decline is due to a slight increase in the discount rates applied by independent valuation experts. After deduction of liquidation taxes, the total income for the Helvetia (CH) Swiss Property Fund stands at CHF 7.56 million, representing a positive investment return of 0.94%.
Fund information
The Helvetia (CH) Swiss Property Fund was launched in 2020 and invests directly in high-quality real estate with a focus on large and medium-sized cities and their surrounding urban areas throughout Switzerland, with the aim of broad regional diversification. The majority of the portfolio (almost 80%) is invested in residential properties, supplemented by mixed-use and commercial properties. The portfolio strategy is focused on optimizing current income, realizing potential and implementing sustainability objectives. The fund holds 46 properties and is broadly diversified with regard to location, building age and tenant structure. The market value of the properties stood at CHF 1,072 million as at 31 March 2024.
Name | Helvetia (CH) Swiss Property Fund |
Security no./ISIN | Security: 51383832/ISIN: CH0513838323 |
Legal form | Contractual real estate fund under Swiss law |
Fund domicile | Switzerland |
Investor group |
Limited to qualified investors, as defined in Art. 10 (3 and 3ter) CISA in conjunction with Art. 4 (3-5) and Art. 5 (1 and 4) FinSA |
Distribution policy | distributing |
Launch date | 3 June 2020 |
Fund management company | Helvetia Asset Management Ltd, Basel |
Portfolio management | Helvetia Asset Management Ltd, Basel |
Custodian bank | Zürcher Kantonalbank, Zurich |
Over-the-counter trading | Bank J. Safra Sarasin AG, Zurich |
Joint lead managers, listing |
Bank J. Safra Sarasin AG, Zurich Zürcher Kantonalbank, Zurich |
Auditors | KPMG Ltd, Zurich |
Valuation expert | Wüest Partner AG, Zurich |
Philipp Schüpbach
Head of Investor Relations
Helvetia Group
Phone: +41 58 280 59 23
investor.relations@helvetia.ch
Jonas Grossniklaus
Head of Corporate Communications
Helvetia Group
Phone: +41 58 280 50 33
media.relations@helvetia.ch
Disclaimer
The Helvetia (CH) Swiss Property Fund referred to in this media release is exclusively for qualified investors - as defined in Art. 10 (3 and 3ter) of the Swiss Act on Collective Investment Schemes (CISA) in conjunction with Art. 4 (3-5) and Art. 5 (1 and 4) of the Financial Services Act (FinSA) - domiciled in Switzerland. The details given of the real estate fund are intended exclusively as information and do not constitute legal, tax or financial advice, nor are they an offer or a recommendation to buy or sell investment instruments or other financial services or a solicitation or invitation to submit an offer. Historical performance is not an indicator of current or future performance. The sole binding basis for the purchase of or subscription to fund units is the fund agreement, including the appendix, and the latest annual report. These documents can be obtained free of charge from the fund management company, Helvetia Asset Management Ltd, St. Alban-Anlage 26, 4002 Basel, Switzerland, or the custodian bank, Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, Switzerland.
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Helvetia Holding AG published this content on 31 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2024 05:08:01 UTC.