A real estate fund has been issued under Swiss law by Helvetia Asset Management AG for the first time with the Helvetia (CH) Swiss Property Fund. The initial offering on a best-effort basis met with widespread interest. It comprised 4,500,000 shares at an issue price of CHF 102.00 per share. Payment will take place on 3 June 2020.
The issue proceeds will be used to acquire a high-quality and broadly diversified real estate portfolio with 29 properties and a total value of around CHF 532 million from Helvetia Swiss Life Insurance Company Ltd, Basel.
Attractive cash flow return as investment objective
The portfolio will be built up primarily through further portfolio transactions from the insurance portfolio of Helvetia Insurance. Selective purchases can also be made on the market. The investment objective of the Helvetia (CH) Swiss Property Fund is to ensure an attractive long-term cash flow return.
Fund management expertise with strong partners
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. Zürcher Kantonalbank will act as the custodian bank. The valuation expert will be Wüest Partner AG. Following the launch of this fund, Bank J. Sarasin Ltd will ensure OTC trading. A listing on SIX Swiss Exchange is planned in three to five years.
The fund agreement can be found at www.swissfunddata.ch
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