UBS: Objections delay fund merger
The timetable for the merger of three residential real estate funds appears to be faltering due to objections from investors. Meanwhile, UBS emphasizes that it is sticking to its plans.
According to UBS Fund Management (Switzerland) AG, there has been a "procedural delay" in the merger of the UBS Living Plus, UBS Hospitality and Residentia real estate funds. The merger of the residential real estate funds was scheduled to take place at the end of June 2025. In the public announcements on the planned amendments to the relevant fund contracts, the fund management company had pointed out that objections could be submitted to the supervisory authority within 30 days of publication. According to UBS, this has now been done. However, the investors concerned accounted for less than 0.1% of the capital in one of the real estate funds mentioned, according to the statement. The necessary regulatory approval for the merger has nevertheless been delayed.
"This does not change our assessment that the planned merger is in the general interest of investors," writes UBS. "We remain firmly committed to moving forward with the planned merger as quickly and efficiently as possible." According to UBS, the delay in the residential funds will have no impact on the two other planned fund mergers, which were announced in November 2024. UBS Green Property is to merge with UBS Direct Urban this year or next, and the merger of UBS "Swissreal" and UBS "Interswiss" is planned for 2026 or 2027. (aw)
