First issue of Helvetia (CH) Swiss Property Fund: Subscription period from 6 to 27 May 2020 Mittwoch, 29. April 2020 - 07:00
Media release
Basel, 29 April 2020
First issue of Helvetia (CH) Swiss Property Fund: Subscription period from 6 to 27 May 2020
The launch of Helvetia (CH) Swiss Property Fund is scheduled for 3 June 2020. Qualified investors may subscribe for units in the Fund from 6 to 27 May 2020, 12:00 noon. The relaunch enables entry at the net asset value (NAV) into a broadly diversified real estate portfolio with a high residential component, very low vacancy rates and stable rental income
With Helvetia (CH) Swiss Property Fund, investors have the opportunity for the first time to participate in a real estate fund of Helvetia Asset Management AG. This Fund will invest directly in attractive real estate assets in Switzerland, mainly in large and mid-sized towns and cities and their conurbations. The portfolio will for the most part be invested in residential properties, supplemented by mixed-use and commercial properties.
Attractive cash flow return as investment objective
The portfolio will be built up primarily through portfolio transactions from the insurance portfolio of Helvetia Swiss Insurance Company Ltd, which will provide the Fund with stable rental income from day one. 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.
The initial issue is aimed exclusively at qualified investors and will have a volume of up to CHF 450 million. The relaunch enables entry at the net asset value (NAV). The Helvetia Group will also invest in the Fund. The issue proceeds will be used to acquire a 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.
Focus on cities or regional centres
The property portfolio to be acquired consists of 23 residential properties and six mixed-use residential and commercial properties in and within close proximity to major cities or in regional centres. Geographically, the properties are spread over the regions of Northwestern Switzerland (28% of market value), Zurich (19%), Lake Geneva (18%), Eastern Switzerland (10%), Central Switzerland (9%), Bern (7%), Western Switzerland (7%) and Southern Switzerland (3%). The portfolio has a high residential component of 83% of the target rental income and a very low vacancy rate of only 3.3% as of mid-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. Sarasin Ltd will ensure OTC trading. A listing on SIX Swiss Exchange is planned in three to five years.
Fund information
Name | Helvetia (CH) Swiss Property Fund |
Security / ISIN | Security: 51383832 / ISIN: CH0513838323 |
Legal form | Contractual real estate fund under Swiss law |
Fund domicile | Switzerland |
Investor group | Limited to qualified investors pursuant to article 10 para. 3, 3bis and 3ter CISA |
Investment period | Unlimited |
Fund currency | CHF |
Income use | Distributing |
Financial year | 1 October to 30 September (shortened first financial year: 3 June to 30 September 2020) |
Issue volume | 4,500,000 units maximum |
Issue type | The issue will be carried out on a best-effort commission basis as part of a placement in Switzerland. |
Subscription period | The subscription period lasts from 6 to 27 May 2020, 12:00 noon (CEST). |
Allocation | Allocation is expected to be announced on 29 May 2020. |
Designated allocations at third-party conditions |
|
Payment | 3 June 2020 |
Delivery of units | Through SIX SIS AG |
Issue price and issuing commission | CHF 102 net per unit including 2.00% issuing commission in favour of the fund managers, custodian bank and/or distributor |
Use of issue proceeds | The issue proceeds will be used to purchase a real estate portfolio with 29 properties and a total value of around CHF 532 million from Helvetia Life Insurance Company Ltd, Basel. |
Fund manager | Helvetia Asset Management AG, Basel |
Portfolio management | Helvetia Asset Management AG, Basel |
Custodian bank | Zürcher Kantonalbank, Zurich |
OTC trading | J. Safra Sarasin Bank, Basel |
Audit firm | KPMG AG, Zurich |
Valuation expert | Wüest Partner AG, Zurich |
Distribution | Zürcher Kantonalbank, Zurich |
The issue prospectus can be found on www.swissfunddata.ch or www.helvetia-am.ch.
For further information please contact:
Analysts Susanne Tengler Head of Investor Relations Phone: +41 58 280 57 79 | Media Jonas Grossniklaus Senior Manager Corporate Communications & PR Phone: +41 58 280 50 33 |
Helvetia Asset Management AG is regulated by the Swiss Financial Market Supervisory Authority, FINMA, and provides fund management and asset management services. It offers collective investment schemes and is an independent fund manager operating in the interests of its investors.
Helvetia Asset Management AG has its registered office in Basel, Switzerland, and is a wholly owned subsidiary of Helvetia Holding AG, St. Gallen, Switzerland.
