Helvetica: Commercial Fund sells at a profit
The fund outperformed the benchmark in the first half of the year. Lower costs more than compensated for the lower income.
The Helvetica Swiss Commercial Fund, which was merged with the Helvetica Swiss Opportunity (HSO), closed the first half of the year with net income of CHF 13.4 million. The increase compared to the prior-year period (CHF 12.4 million) is due to lower costs of CHF 6.2 million (previous year: CHF 7.6 million). This also includes lower financing expenses. A profit of CHF 1.1 million from sales also played a role in the realized profit, which increased from around CHF 12 million to CHF 14.4 million. Total income benefited from a massive improvement in the valuation result (+0.5 million after -12.2 million) and rose from CHF -0.2 million to +14.9 million.
Income fell from CHF 20.1 million to CHF 19.6 million. This reflects sales: three properties with a total value of CHF 63.1 million were sold in the first quarter.
Helvetica reports a return on investment of 3.80 % and a performance of 5.29 % since the beginning of the year, outperforming the benchmark. The target for the year as a whole remains a distribution at the planned level of CHF 5.35 per unit. There is also talk of "selective purchases".
Sales
- Triengen (LU), Kantonsstrasse 115
- St. Gallen (SG), Rorschacherstrasse 292/294
- Arbon (TG), St. Gallerstrasse 15
The properties sold included the "Novaseta" shopping center in Arbon, which reduced the proportion of retail use in the portfolio to 21%. (aw)
