UBS: Siat significantly increases net income in the first half of the year
The real estate fund recorded significant growth in net income and total income in the first half of its financial year.
The UBS real estate fund "Siat" increased its net income by CHF 3.9 million year-on-year to CHF 43.4 million in the first half of the year. The fund management attributes this development to successful lettings and good absorption following refurbishments and project completions. The rental loss rate is 3.0% of target rental income.
Total income improved from CHF 39.8 million to CHF 44.8 million, thanks to a slightly higher valuation result (CHF +1.5 million, compared to CHF 0.3 million in the previous year). Total fund assets increased marginally from CHF 4.14 billion to CHF 4.18 billion.
There were no purchases or sales in the half-year period. (aw)
