UBS Sima increases earnings
The real estate fund reported a fall in the rent loss rate to 3.4% and higher net income for the first half of the financial year.
The fund heavyweight "UBS (CH) Property Fund - Swiss Mixed Sima" reported an increase in income of CHF 9.5 million to CHF 234.1 million for the first half of the year. As expenses only increased by CHF 2.7 million, net income rose from CHF 118.2 million to CHF 125.0 million. In addition, the valuation result improved by CHF 5.6 million to CHF 0.9 million, resulting in a noticeable year-on-year increase in total income from CHF 113.6 million to CHF 126.0 million.
The fund's stock market performance of 3.1% was only marginally below the benchmark of the SXI Real Estate Funds TR (3.2%). The premium as at the end of June amounted to 46.0%. The fund has also reported a fall in the rental loss rate since the beginning of the year from 3.5TP3T to 3.4%. In the residential segment, it stands at 1.7%.
Project updates in the annual report include the completion of a new replacement building with 83 apartments in Zurich's Milchbuck district, where the original number of apartments was 46. The renovation project at Bruderholzstrasse 45 in Basel was also completed in April. At a cost of around CHF 8 million, 20 fully let residential units and a commercial space on the ground floor were created. Construction work on the "Younic" residential development in Dübendorf is also nearing completion. The first stage has already been completed and handed over to the tenants. The handover of the second stage is planned for September. All apartments have been let. The project with a total of 228 apartments was acquired in summer 2022.
There were no acquisitions or sales of properties in the first half of the year.
