The Patrimonium Swiss Real Estate Fund presents strong results for the 2020/21 financial year.
The Patrimonium Swiss Real Estate Fund (PSREF), which is listed on the SIX Swiss Exchange, performed very well in the 2020/21 financial year with a return of 19.78%. Rental income increased from CHF 43.5 million to CHF 44.8 million in the fiscal year and the net asset value (NAV) per unit after distribution rose from CHF 135.27 to CHF 139.97, which corresponds to an investment return of 6.21%. A dividend of CHF 3.70 will be paid.
The Fund will close the 2020-2021 financial year on 31 March 2021 with an increase in income of CHF 1.38 million, a 3.2% increase on the previous year. The market value of the properties has also increased from CHF 979’711’300 to CHF 1’059’278’300. The growth in value and income of the Fund is mainly due to the acquisition of the property at Général-Guisan 74-78 in Vevey/VD and the completion of construction projects (Montreux, Crissier and Basel-City) during the reporting year. According to Wüest Partner, the average rental increase potential of the portfolio properties is around CHF 33/m2 per year.
As at 31 March 2021, the PSREF portfolio consists of 54 residential properties, 9 mixed-use properties and 6 commercial properties. The debt financing ratio as at 31.03.2021 is 23.36% (31.03.2020: 20.40%) with an average interest rate of 1.06%.
Acquiring properties while complying with the Fund’s investment criteria is challenging. Growth is therefore ensured, among other things, with storey extension projects at Rue de la Prulay 43 and Rue Virginio-Malnati 65-67 in Meyrin/GE, Geneva and at Rue St-Denis 66 in Bulle/FR. Thanks to the development and densification project in Baar, as well as further additions and renovations, the fund’s rental income will exceed the CHF 50 million mark in five years.
The withholding tax-free dividend of CHF 3.70 per unit will be paid out on 30 June 2021 (ex-date: 28.06.).
Patrimonium Swiss Real Estate Fund
The listed Patrimonium Swiss Real Estate Fund invests in residential and mixed-use properties, with a focus on residential properties in the lower and medium rental price segments, mainly in the Lake Geneva region and on the Fribourg, Berne, Basel and Zug axis. The fund provides private and institutional investors with access to a diversified real estate portfolio with attractive development potential. Annual report and further information on the fund are available here.
Patrimonium Asset Management AG
Patrimonium Asset Management AG is an asset manager of collective investment schemes authorised by the Swiss Financial Market Supervisory Authority (FINMA). Patrimonium – Your Partner in Private Markets.
GAM Investment Management (Switzerland) AG
GAM Investment Management (Switzerland) AG acts as fund manager for the Patrimonium Swiss Real Estate Fund. Portfolio management has been delegated by the fund management company to Patrimonium Asset Management AG. The custodian bank and paying agent is Banque Cantonale Vaudoise, Place St-François 14, 1001 Lausanne.
Important legal information:
The Patrimonium Swiss Real Estate Fund (security no. 3499521) is a contractual investment fund under Swiss law of the type “real estate fund” and is authorised for distribution exclusively in Switzerland. The fund management company is GAM Investment Management (Switzerland) AG, Hardstrasse 201, 8037 Zurich. The custodian bank is Banque Cantonale Vaudoise, Place St.-François, 1001 Lausanne. The prospectus with integrated fund contract, the simplified prospectus and the current annual or semi-annual report can be obtained free of charge from the fund management company.
The information contained in this document is for information purposes only and does not constitute investment advice. The opinions and assessments contained in this document are subject to change and reflect the view of Patrimonium Asset Management AG as asset manager and main distributor of the real estate fund. The value and yield of the units may fall and rise. They are influenced by market volatility as well as exchange rate fluctuations. GAM Investment Management (Switzerland) AG and Patrimonium Asset Management AG accept no liability for any losses. Past performance is no indicator of current or future performance. The value and yield trends do not take into account any costs incurred in the purchase, repurchase or capital increase.