Dieter Marmet becomes new Managing Director of Investment Foundation 1291
1291 The Swiss Investment Foundation is getting a new managing director in Dieter Marmet. This was announced by the investment foundation with the publication of its annual results.
Rudolf B. Zeller, the current managing director of 1291 The Swiss Investment Foundation, will hand over his office to Dieter Marmet on October 1, 2022. Zeller is to move to the Board of Trustees. The designated managing director Marmet (56) brings many years of experience in the real estate industry: He has been an independent management consultant since 2013, was chairman of the board of directors of Intershop Holding from 2011 to 2022, and was a partner or managing partner at Wüest Partner from 1999 to 2010. He is currently a member of the Board of Trustees of the Ecoreal Investment Foundation, but will relinquish this mandate on September 30.
Strong increase in net income and total comprehensive income
Meanwhile, 1291 can look back on a successful 2021/2022 financial year: the portfolio of the "Real Estate Switzerland" investment group increased to CHF 1.02 billion in the reporting period (previous year: CHF 729.4 million); 25 properties were acquired. As a result, the investment group now holds 78 properties in its portfolio, most of them in northwestern Switzerland (30%) and Zurich (27%).
The annual target rental income of the portfolio properties (excl. projects) increased by 37 percent to CHF 33.4 million (previous year: 24.4 million), the share from residential use was 77 percent (previous year: 82%) on the reporting date. Net income increased by 43 percent to CHF 24.5 million (PY: 17.1 million), and total income for the financial year reached CHF 52.7 million (PY: 31.7 million; +66%).
The net assets of the investment group increased by 46 percent to 964.6 million (previous year: 661.5 million). The net asset value per claim before distribution amounts to CHF 119.43 (previous year: CHF 115.11). The investment return for the financial year 2021/2022 is estimated at 6.29 percent. This year, the distribution for the investment group "Real Estate Switzerland" is expected to amount to CHF 2.90 per unit (PY: CHF 2.75).
Growth course to be continued
1291 remains on growth track in the new reporting year: The portfolio of the "Real Estate Switzerland" investment group grew to CHF 1.3 billion as of August, following the purchase of a larger real estate portfolio comprising four commercial properties in Bern, Bremgarten and Adliswil as well as three residential properties in Pratteln, Münchenstein and Giebenach and a mixed-use property in Basel.
At the same time, 1291 launched its second investment group "Sustainable Real Estate Projects Switzerland" and closed the first capital round with CHF 56 million. This investment group aims to invest primarily in sustainable new construction projects, particularly in medium-sized and large Swiss centers and their agglomerations. The initial portfolio consists of two new construction and development projects in Effretikon and Wil with an expected investment value of CHF 175 million. (ah)
