Helvetia: Swiss Property Fund to grow significantly in 2025

In the 2024/25 financial year, the Helvetia (CH) Swiss Property Fund acquired seven properties from the Helvetia Insurance portfolio with a value of CHF 252 million and increased the market value of the overall portfolio to CHF 1.3 billion. Rental income increased from CHF 42.6 million to CHF 47.4 million, while the fund increased its net income by 17% to CHF 26.2 million. Capital gains of CHF 4.9 million were realized through four sales (previous year: CHF 0.37 million), while unrealized capital gains increased from around CHF 4 million to CHF 24.9 million. The total income of CHF 49.6 million corresponds to a return on investment of 5.15 % (previous year: 3.0 %).

The market value of the properties increased by CHF 237.8 million or around 22% to CHF 1.3 billion compared to the previous year. Like-for-like, the change in portfolio value amounted to 28.4 million or 2.75 %. The higher valuation of the existing portfolio was mainly due to increased income and market rents as well as a reduction in the average discount rate.

Due to tax effects, the net income generated per share fell from CHF 2.75 to CHF 2.69, which is attributable to retroactively higher capital taxes in the canton of Geneva. However, the dividend for 2025 remains stable at CHF 2.75. Based on the share price of CHF 128.00 as at September 30, this results in a distribution yield of 2.15 %. At 21.2 %, the performance outperformed the benchmark SXI Real Estate Funds Broad TR (12.7 %).

Capital increase in March

The next capital increase is scheduled for the end of March 2026 and will again be used to purchase properties from the Helvetia Insurance portfolio. Construction projects are also to be driven forward, according to the fund management company. «In view of the size achieved and in order to pass on economies of scale to investors, a reduction in the management fee from 0.60 % to 0.55 % is planned as of April 1, 2026,» the fund announces.

Purchases

• Adliswil, Grütstrasse 21/23/25/27/29/31 (residential)
• Au (ZH), Alvierstrasse 27 (residential)
• Basel, Austrasse 19, Holbeinstrasse 48/50/52 (Commercial)
• Neuchâtel, Vy d'Etra 30/44/46, Rue des Cerisiers 32/34 (residential)
• Rapperswil-Jona, St. Gallerstrasse 119/121/123/125/127/129/131/133/135/137/139/141/143/145/147/149/151/153 (residential)
• St. Gallen, Falkensteinstrasse 52/54/54a (residential)
• Winterthur, Guggenbühlstrasse 119/121/123/125/127,
• Stadlerstrasse 150/152/154/156/158/160 (residential)

Sales

• Basel, Gundeldingerstrasse 131 (residential)
• Romanel-sur-Lausanne, Chemin de la Covatannaz 16 (residential)
• Sion, Avenue de Pratifori 5/7 (Mixed)
• Romanshorn, Gottfried-Keller-Strasse 1/3/5/7/9/11/13/15/17 (residential)