Akara Diversity PK plans capital increase
Akara Funds is sticking to its planned capital increase for the Diversity PK fund despite the Corona pandemic.
The issue for Akara Diversity PK (Akara Swiss Diversity Property Fund PK) is expected to have a volume of approximately CHF 200 million, Akara Funds announced. The subscription period will run from May 4 to June 12, it said. The fund management company had already announced the capital increase at the beginning of March.
The fund will be relatively little affected by the Covid 19 pandemic, the fund management further informs, because in the portfolio the commercial share of the sectors affected by the "lockdown" such as catering and sales amounts to only about 5%. One has extended for the two scenarios of the Konjkturforschungsstelle (KOF) at the ETH Zurich ("base scenario" and "negative scenario") and simulated for the portfolio of the Akara Diversity PK. In the most likely case, a reduction in the distribution yield of 0.13 percentage points ("base scenario") and 0.22 percentage points ("negative scenario") can be assumed.
Only a prolonged "negative scenario" would result in an additional reduction in the distribution yield of 0.06 percentage points in the simulation for 2021, the fund management company added. Even with a maximum downside effect, a reduction in the distribution yield of 0.33 percentage points would be expected for 2020 and an additional 0.09 percentage points for 2021, according to the simulation. This would be justifiable in view of the market situation. In view of these simulations and a promising real estate pipeline, the company intends to carry out the capital increase, the statement continues. (ah)
