Helvetia Asset Management AG is launching its first real estate fund: Helvetia (CH) Swiss Property Fund. This fund will invest directly in real estate assets in Switzerland, mainly in large and mid-sized towns and cities and their conurbations. Investments will focus on residential properties, supplemented by commercial and mixed-use properties.
The portfolio will be built up principally through transactions from the insurance portfolio held by Helvetia Insurance, with some additional purchases being made on the market. The investment objective of the Helvetia (CH) Swiss Property Fund is to ensure an appropriate long-term cash flow return.
The initial issue is aimed exclusively at qualified investors and will have a volume of up to CHF 450 million. Helvetia Group will be among the investors. The proceeds of the issue will be used to purchase a broadly diversified real estate portfolio with a total value of CHF 532 million from the Helvetia Group’s portfolio. The portfolio comprises 29 properties with a high proportion of residential properties and low vacancy rates. The subscription period runs from 23 March to 9 April 2020, and the issue date will be 15 April 2020.
The fund manager for the Helvetia (CH) Swiss Property Fund will be Helvetia Asset Management AG. Helvetia Insurance will continue to provide property management and fiduciary construction services. The custodian bank and distributor is Zürcher Kantonalbank. Following the launch of this fund, Bank J. Safra Sarasin Ltd will ensure OTC trading. A listing on SIX Swiss Exchange is planned in three to five years.
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