Schroder ImmoPLUS: Outlook Annual Financial Report 2023/24 as at 30.09.2024
Ad-hoc Communication in accordance with Art. 53 LR
4 November 2024
Schroder Investment Management (Switzerland) AG, Zurich, as the fund management company (the "Fund Management Company") of Schroder ImmoPLUS (the "Fund"), today announces that the Fund will again report a pleasing annual result for the 2023/2024 financial year. According to the unaudited annual report as at 30 September 2024*, total income increased significantly year-on-year to CHF 65.2 million, while net income of CHF 63.7 million was identical to the previous year. The return on investment improved from 1.9% in the previous financial period to 4.3%. The rent default rate remains at the very low level of around 1.2% and the weighted average remaining lease term of 6.6 years underlines the very good quality of the existing portfolio.
As a result of the merger of Credit Suisse (Switzerland) AG with UBS Switzerland AG, targeted measures were introduced to improve the risk profile of the Fund. These include the sale of two properties in Vevey and Morges at the beginning of 2024, as well as the planned sale of another UBS property in the new financial year. With UBS's staggered departure from the Rue de Lausanne property in Geneva starting at the beginning of 2025 and the associated new lettings, UBS's share in the portfolio will be reduced to around 6% of nominal rental income.
The portfolio will be further expanded and the Life Science segment will be strengthened with the planned acquisition of a life science property in the canton of Zurich with a contract term of 25 years. The purchase agreement for the single-tenant property with a market value of around CHF 170 million and a net yield of around 4% has already been notarised. The transfer of ownership will take place after the tenant has waived his right of first refusal. As a result of this transaction, the LTV of the Fund will increase to around 25%.
* Deviations in the published figures are possible. The audited annual report is expected to be published after the close of the stock market on 19 November 2024.
Further information:
Roger Hennig, Fund Manager | +41 44 250 12 91 | |
Alice West, Senior Corporate Communications Manager Schweiz | +41 44 250 12 26 |
Note to Editors:
Schroders Real Estate
Schroder ImmoPLUS was launched in September 1997 and invests in real estate in attractive and well-developed locations throughout Switzerland. Preference is given to investments in profitable commercial properties in economically prosperous regions. The investment objective is to generate attractive long-term returns for investors.
As a global, active asset manager, Schroders has managed a wide range of pan-European real estate products since 1971 and currently manages real estate assets (AuM) of around CHF 28 billion. More than 200 employees in eight locations in Europe invest directly and indirectly and offer regionally and sectorally diversified funds with different risk-return profiles. In Switzerland, Schroders manages assets totalling around CHF 3.3 billion with its "Schroder ImmoPLUS" fund and the investment group of the Zurich Investment Foundation "Immobilien Europa Direkt". (Source: Schroders as at June 2024).
Schroders plc
Founded in 1804, Schroders is a global investment management firm with around CHF879* billion assets under management, as at 30 June 2024. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa CHF 7.5 billion and over 6,100 employees across 38 locations. The founding family remains a core shareholder, holding approximately 44% of Schroders’ shares.
Schroders has benefited from a diverse business model by geography, asset class and client type. It offers innovative products and solutions across four core growing business areas; asset management, solutions, private assets (Schroders Capital) and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, high-net-worth individuals and foundations. Schroders also manages assets for end clients as part of its relationships with distributors, financial advisers and online platforms.
Schroders aims to provide excellent investment performance to clients through active management. It also channels capital into sustainable and durable businesses to accelerate positive change in the world.
Schroders’ business philosophy is based on the belief that if we deliver for clients, we will deliver for our shareholders and other stakeholders.
At home in Switzerland for over half a century – here we have three businesses; each with its own emphasis, all with the same clear focus on meeting clients’ needs and adapting to a changing world:
- Schroder Investment Management (Switzerland) AG is our investment management business. It offers institutional and intermediary clients a wide range of Swiss-domestic and foreign-domiciled funds, along with bespoke investment mandates.
- Schroder & Co Bank AG provides bespoke Wealth Management services to private individuals, family offices, external asset managers and charities.
- Schroders Capital Management (Switzerland) AG provides private equity investment services to institutional investors, namely pension funds and insurance companies globally, giving access to select private market segments through primary, secondary and direct/co-investments.
In Switzerland, Schroders employs over 450 people. Together they are responsible for around CHF 41 billion.**
**as at 31 December 2023 / Find out more about Schroders at www.schroders.ch
Important Information
This document does not constitute an offer to anyone, or a solicitation by anyone, to subscribe for shares of Schroder ImmoPLUS («the Fund»). The Fund is a contractual investment fund of the type «real estate fund» according to the Federal Act on Collective Investment Schemes. Schroder Investment Management (Switzerland) AG, Zurich, is the fund management company («Fund Management Company») and Zürcher Kantonalbank, Zurich, is the depositary bank of the Fund. The prospectus with integrated fund contract, the key information documents as well as the annual and semi-annual reports («Fund Documents») may be obtained free of charge from the Fund Management Company. Subscriptions for shares for the Fund can only be made on the basis of the latest Fund Documents.
All statements, opinions and views contained in this document relating to future events or the possible future performance of the Fund merely represent the Fund Management Company’s own assessment and interpretation of information that was available to it at the relevant time and are subject to change at any time without notice. No representation is made or assurance is given that such statements, opinions and views are correct, or that the underlying information is accurate.
Information importante: Cette communication est destinée à des fins marketing. Ce document exprime les opinions de ses auteurs sur cette page. Ces opinions ne représentent pas nécessairement celles formulées ou reflétées dans d’autres supports de communication, présentations de stratégies ou de fonds de Schroders. Ce support n’est destiné qu’à des fins d’information et ne constitue nullement une publication à caractère promotionnel. Le support n’est pas destiné à représenter une offre ou une sollicitation d’achat ou de vente de tout instrument financier. Il n’est pas destiné à fournir, et ne doit pas être considéré comme un conseil comptable, juridique ou fiscal, ou des recommandations d’investissement. Il convient de ne pas se fier aux opinions et informations fournies dans le présent document pour réaliser des investissements individuels et/ou prendre des décisions stratégiques. Les performances passées ne constituent pas une indication fiable des résultats futurs. La valeur des investissements peut varier à la hausse comme à la baisse et n’est pas garantie. Tous les investissements comportent des risques, y compris celui de perte du principal. Schroders considère que les informations de la présente communication sont fiables, mais n’en garantit ni l’exhaustivité ni l’exactitude. Certaines informations citées ont été obtenues auprès de sources externes que nous estimons fiables. Nous déclinons toute responsabilité quant aux éventuelles erreurs commises par ou informations factuelles obtenues auprès de tierces parties, sachant que ces données peuvent changer en fonction des conditions de marché. Cela n’exclut en aucune manière la responsabilité de Schroders à l’égard de ses clients en vertu d’un quelconque système réglementaire. Les régions/secteurs sont présentés à titre d’illustration uniquement et ne doivent pas être considérés comme une recommandation d’achat ou de vente. Les opinions exprimées dans le présent support contiennent des énoncés prospectifs. Nous estimons que ces énoncés reposent sur nos anticipations et convictions dans des hypothèses raisonnables dans les limites de nos connaissances actuelles. Toutefois, aucune garantie ne peut être apportée quant à la réalisation future de ces anticipations et opinions. Les avis et opinions sont susceptibles de changer. Ce contenu est publié au Royaume-Uni par Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. Société immatriculée en Angleterre sous le numéro 1893220. Agréé et réglementé par la Financial Conduct Authority.
Thèmes