1291 The Swiss Investment Foundation: Higher rents, rising values
In the 2024/25 financial year, AST increased the portfolio value of its two investment groups by double digits overall.
The Swiss Investment Foundation 1291 is satisfied with the performance of the 2024/2025 financial year, which ended in the middle of the year. In the reporting period, the value of the real estate portfolios of the Investment Foundation's two investment groups - "Real Estate Switzerland" and "Sustainable Real Estate Projects Switzerland" - increased to CHF 1.62 billion, up 12% on the previous year.
According to the investment foundation, "suitable purchase opportunities were exploited for the investment group in the reporting period and five fully let residential properties were acquired in the municipalities of Füllinsdorf/BL, Trübbach/SG, Villmergen/AG, Würenlingen/AG and in the city of Geneva/GE". The market value of the real estate portfolio increased by 11% year-on-year to around CHF 1.5 billion (30.06.2024: CHF 1.35 million). The residential ratio of the portfolio increased by a total of 4.1 percentage points to 63.7%, mainly due to the new acquisitions of the aforementioned residential properties. The vacancy rate was 4.1% (3.3%).
The target rental income from the existing properties amounted to CHF 55.7 million (+6%) as at 30.06.25, net income was reported at CHF 30.2 million (+22%) and the return on investment at 5.84%. The Board of Trustees attributes the improved result to higher rental income (+1.6 million), lower property maintenance costs (-0.8 million) and lower financing costs (CHF -2.2 million) due to lower mortgage interest rates.
In addition, the revaluation of the real estate portfolio resulted in an unrealized capital gain of CHF 35.6 million - compared to a loss of CHF 8.0 million in the previous year. Total income for the financial year amounted to CHF 65.6 million - more than triple the figure for the 2024/2024 financial year (CHF 20.6 million). The distribution is to be increased to CHF 3.00/entitlement (CHF 2.90).
The "Sustainable Real Estate Projects Switzerland" investment group launched in 2022 consists of a new construction project in Wil, which is scheduled for completion in the first quarter of 2026; according to the information provided, rental agreements had been concluded for 63% of the space as at June 30, 2025. The portfolio also includes a construction project in Effretikon, for which the investment foundation expects to receive planning permission by the end of the year. The target completion date is spring 2029. As at June 30, 2025, these two projects were valued at CHF 115.9 million, compared to CHF 96.3 million in the previous year. After completion, the expected investment value of the two properties is expected to be around CHF 185 million. (bw)
