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Press Release

Swiss Real Estate Fund hits billion mark

30.11.20

Interim report for the fiscal year 2020-21: the Patrimonium Swiss Real Estate Fund (PSREF) hits and surpasses the CHF 1 billion mark of real estate assets under management.

Since its founding in 2007 until the half-yearly closing as at 30 September 2020, the PSREF surpassed the CHF 1 billion mark of assets under management thanks to 68 properties that were purchased in the last 13 years. The investment strategy, which focuses on residential real estate in the low to mid price segment and in dynamic regions, made it possible to reach this milestone as well as offer private and institutional investors access to a diversified portfolio of real estate with attractive development potential.

On 30 September 2020, the real estate portfolio comprised 54 residential properties, eight mixed-use properties and five commercial properties as well as a construction project with a total market value of CHF 1 billion (31 March 2020: CHF 979 million). The net asset value per share rose from CHF 135.27 (after distribution) to CHF 136.98, with a debt ratio of 23.82% (31 March 2020: 20.40%) and an average interest rate of 1.15%.

The various investments made both in construction projects as well as storey extensions since the founding of the fund in 2007 have contributed considerably to the performance of the fund. Over the years, the fund has completed seven construction projects with an investment volume of more than CHF 163 million and six storey extensions with an amount of CHF 32 million. Two extension projects are still in progress and planned to be completed in 2021. The projects commenced in 2017, 2018 and 2019 in Crissier, Montreux and Basel respectively have been completed and have already been leased out to some extent. The additional income expected due to the completion of these projects will ultimately amount to CHF 5 million.

This active management of the portfolio with the support and internal expertise of our technical team comprising architects and engineers should enable us to generate annual rental income of more than CHF 44 million by the annual closing of the fund in March 2021.

The half-yearly report and further information on the fund are available at www.patrimonium.ch

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