The Baloise Swiss Property Fund, a contractual investment fund that falls into the ‘real estate fund’ category for qualified investors pursuant to section 10 (3) and (3ter) of the Swiss Collective Investment Schemes Act (CISA), was successfully launched on 1 October 2018. Since its inception, the real estate fund has been developed on an ongoing basis. As at 31 March 2021, the fund comprised 56 properties with a total market value of CHF 618.5 million.
In order to further promote the growth of the Baloise Swiss Property Fund, the fund management company intends to purchase 17 properties with an aggregate value of CHF 185.2 million from Baloise Insurance Ltd and Baloise Life Ltd for the fund. The transaction was approved by the Swiss Financial Market Supervisory Authority (FINMA) on 9 June 2021 in accordance with section 63 (4) CISA in conjunction with section 32a CISO.
Plans for the financing of this property portfolio acquisition involve the issuance of new fund units and the use of external capital in August/September 2021. The acquisition of the portfolio provides an opportunity for the investors of the Baloise Swiss Property Fund to benefit from broader diversification. It comprises a total of 17 core/core plus properties across Switzerland. The properties are situated in high-quality locations and offer excellent stability in terms of earnings and value. Residential properties make up 83 per cent of the portfolio.
|Indicative key data of the capital increase|
|Subscription period||10 August 2021 to 19 August 2021|
|Publication of terms of issue||Second half July 2021|
|Publication of issue prospectus||Early August 2021|
|Subscription payment deadline||1 September 2021|
|Approximate issue volume||CHF 130–140 million|
The exact terms of the placement will be announced at a later date.
Further information on the 17 portfolio properties and the capital increase can be found on the Swiss Fund Data website and on the Baloise Swiss Property Fund’s website.
|Name||Baloise Swiss Property Fund|
|Swiss securities no. / ISIN||41455103 / CH0414551033|
|Fund currency||Swiss francs|
|Appropriation of income||Distribution|
|Legal form||Contractual investment fund|
|Group of investors||Restricted to qualified investors within the meaning of article 10 (3) and (3ter) of the Swiss Collective Investment Schemes Act (CISA)|
portfolio management company
|Baloise Asset Management AG, Basel|
|Custodian bank||UBS Switzerland AG, Zurich|
|OTC trading||Bank J. Safra Sarasin AG, Zurich|
|Inception date||1 October 2018|