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Capital increase planned for AXA Real Estate Fund Switzerland
20 March 2024
The fund management of the AXA Real Estate Fund Switzerland is planning an initial capital increase of between 150 and 200 million francs in June 2024.
After completing the merger of the three real estate funds AXA Vorsorge Fonds Immobilien Schweiz, AXA Immovation Residential and AXA Immovation Commercial to form the AXA Real Estate Fund Switzerland, the fund management company is planning a first capital increase in June 2024. The funds from the capital increase will be used to further expand the real estate portfolio and to finance renovations and construction projects.
The issue price will consist of the net asset value of the combined fund as of March 31, 2024, plus the accrued income up to the payment date, as well as the additional purchase costs and the issuing commission. The issue will take place while preserving the subscription rights of existing investors. The exact conditions of the planned capital increase will be announced at the end of May 2024. The fund management reserves the right to postpone the planned capital increase depending on market developments.
About the AXA Real Estate Fund Switzerland
The real estate fund AXA Real Estate Fund Switzerland, which emerged from the merger of the three real estate funds AXA Vorsorge Fonds Immobilien Schweiz, AXA Immovation Residential and AXA Immovation Commercial, has total fund assets of around 4.66 billion francs as of September 30, 2023 and is invested in high-quality residential and commercial properties, mixed-use properties as well as development and construction projects throughout Switzerland. The investments focus on cities in high-growth economic regions and their catchment areas, with the focus on residential properties (around 60% of the total portfolio).
The investment solution is open to tax-exempt domestic occupational pension institutions as well as tax-exempt domestic social insurance and compensation funds. The fund is exempt from direct income and capital taxes at fund level.
Source: AXA
