I am interested in
The “Search” function is not available at the moment, please try again later.
Please get in contact with us. To contact form

Helvetia (CH) Swiss Property Fund: planned listing on SIX Swiss Exchange on 25 June 2024 and pleasing half-year results

Helvetia Asset Management Ltd's application to list the Helvetia (CH) Swiss Property Fund on SIX Swiss Exchange on 25 June 2024 has been conditionally approved. With the listing the fund becomes open to all investors from 25 June 2024, allowing them to benefit from the increased liquidity of the fund units. The Helvetia (CH) Swiss Property Fund also reported an encouraging set of half-year results as at 31 March 2024, with improved profitability and net income of CHF 11.49 million.
31.05.2024 | Media release
SIX Swiss Exchange has approved the application to list the Helvetia (CH) Swiss Property Fund on SIX Swiss Exchange on 25 June 2024, subject to the pending amendment to the fund agreement opening the fund to non-qualified investors. Until the listing, only qualified investors may invest in the fund in accordance with Art. 10 (3 and 3ter) of the Swiss Collective Investment Schemes Act (CISA) in conjunction with Art. 4 (3–5) and Art. 5 (1) of the Swiss Financial Services Act (FinSA). Once listed, the fund will be open to all investors. As a result of the listing, they will benefit from increased liquidity of their fund shares, and the fund is also expected to be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices. Bank J. Safra Sarasin and Zürcher Kantonalbank are supporting the planned listing as joint lead managers.
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

Contact information
Philipp Schüpbach
Head of Investor Relations
Helvetia Group
Phone: +41 58 280 59 23