Swiss Life Asset Management AG: Swiss Life REF (CH) ESG Swiss Properties: largest capital increase by a listed Swiss real estate fund to date successfully completed

Zurich, 16 July 2024
Ad hoc announcement pursuant to Art. 53 LR


Swiss Life REF (CH) ESG Swiss Properties: largest capital increase by a listed Swiss real estate fund to date successfully completed


Swiss Life Asset Managers has successfully completed the largest capital increase to date by an exchange-listed Swiss real estate fund. The Swiss Life REF (CH) ESG Swiss Properties real estate fund attracts around CHF 610 million in new funds, making the fund one of the five largest exchange-listed real estate funds in Switzerland.

The capital increase for Swiss Life REF (CH) ESG Swiss Properties from 2 to 12 July 2024 has been successfully concluded. Overall, the issue volume amounted to around CHF 610 million, which is the largest capital increase to date for a listed Swiss real estate fund. The fund’s market capitalisation of around CHF 2.5 billion means that it is now one of the five largest listed real estate funds in Switzerland.

The commission-based issue was implemented on a best-effort basis as part of a public rights offer in Switzerland. Three (3) subscription rights granted entitlement to acquire one (1) new unit. A total of 5 400 000 new units will be issued, which represents a subscription rate of 100%. Payment under subscription for the new units will be made on 17 July 2024. From that date on there will be 21 600 000 units in circulation.

The capital increase will be used to acquire a real estate portfolio worth around CHF 700 million that will make a positive contribution to the net income of Swiss Life REF (CH) ESG Swiss Properties. The portfolio acquired from Swiss Life Ltd consists primarily of residential properties in well-connected suburbs. As well as being used to purchase the portfolio, the capital raised will be invested in the renovation and densification of existing residential buildings. In addition, the borrowing ratio will be reduced to around 23%.

Fund information

 
Information
Media Relations
Phone +41 43 284 77 77
media.relations@swisslife.ch

Investor Relations
Phone +41 43 284 52 76
investor.relations@swisslife.ch

www.swisslife-am.com


Swiss Life Asset Managers
Swiss Life Asset Managers has more than 165 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg, the UK, Italy and the Nordic countries.

As at 31 December 2023 assets under management for third-party clients amount to CHF 111.8 billion. Together with insurance mandates for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at CHF 255.7 billion. Swiss Life Asset Managers is a leading real estate manager in Europe¹. Of the assets totalling CHF 255.7 billion, CHF 85.4 billion is invested in real estate. In addition, Swiss Life Asset Managers, in cooperation with Livit, manages real estate totalling CHF 21.2 billion in value. Total real estate assets under management and administration at the end of December 2023 thus came to CHF 106.7 billion.

Swiss Life Asset Managers employs more than 2200 people in Europe.

Self-determined Life
Swiss Life enables people to lead a self-determined life and look to the future with confidence. Swiss Life Asset Managers pursues the same goal: We think long-term and act responsibly. We use our knowledge and experience to develop future-oriented investment solutions. This is how we support our customers in achieving their long-term investment objectives, which in turn also take account of their client’s needs so they can plan their financial future in a self-determined manner.

¹ INREV Fund Manager Survey 2023 (AuM as of 31.12.2022)

Disclaimer
This announcement has been produced with the greatest possible care and to the best of our knowledge and belief. However, we do not accept any liability for losses resulting from the use of this information. This publication is not intended as a solicitation or recommendation to buy or sell investment instruments, but only serves to provide information. Prior to subscribing or acquiring fund units on the stock exchange, investors should obtain and carefully read the detailed information on the fund contained in the regulatory documentation (prospectus with integrated fund contract, PRIIPs KID and the latest annual and semi-annual reports) that serve as the sole legal basis for the purchase of fund units. These may be ordered free of charge in electronic or printed form from the fund management company, Swiss Life Asset Management Ltd, General-Guisan-Quai 40, 8002 Zurich.
Past performance is no indication of current or future performance The performance data do not include commissions and costs incurred when issuing and redeeming fund units. Both Swiss Life Ltd and the other members of the Swiss Life Group are entitled to positions in this fund and to purchase and/or sell them. Swiss Life Asset Managers’ funds may not be offered for sale or sold in the US or on behalf of US citizens or US persons residing in the US. “Swiss Life Asset Managers” is the brand for the asset management activities of the Swiss Life Group. More information is available at www.swisslife-am.com. Source: Swiss Life Asset Managers (unless stated otherwise). All rights reserved. Contact: info@swisslife-am.com.