Schroder ImmoPLUS: capital increase successfully concluded
Schroder Investment Management (Switzerland) AG, as fund management company today announces the successful conclusion of the capital increase for the Schroder ImmoPLUS fund.
Investors subscribed to new units with a total value of CHF 186.1 million. The capital increase was structured on a best effort basis within the framework of a public rights issue. During the issue, 13 fund units entitled the holders to subscribe for two new units at the subscription/issue price of CHF 140.
In total, all 1,329,090 new units were subscribed 99.95% of the rights were exercised and the remaining units were placed with existing investors. Following the capital increase, a total of 9,968,181 units are now in circulation.
Roger Hennig, Head Real Estate Switzerland, is very pleased with the successful outcome of the capital increase and two new real estate investments. He commented: "We would like to thank our existing and new investors for their trust and for the very positive market reception. We are convinced that the portfolio expansion to CHF 2.1 billion, which has now been completed, has further improved the quality of the fund.”
The issue proceeds of the capital increase, together with an increase in debt capital, will be used for the acquisition of a centrally located office property in Geneva as well as a research centre in northwestern Switzerland.
The office property located at Rue de Lausanne, immediately next to Geneva-Cornavin railway station, has been acquired from Credit Suisse AG and has an average lease term of 7.8 years. The transaction in Stein/Sisseln (AG) covers several properties and accommodates the research centre of Syngenta AG with a fixed lease term of 30 years. The property has been acquired as part of a sale and lease back transaction. The two transactions amount to a total investment volume of about CHF 450 million.
The settlement date for the capital increase and the first trading day of the new units will take place on 23 December 2019. Based on the current price per unit, the fund's market capitalisation will increase to about CHF 1.7 billion.
Zürcher Kantonalbank was mandated as Lead Manager for this capital increase.
Key data of the capital increase
Number of new units | 1,329,090 |
Subscription / issue price | CHF 140 net per unit |
Issue volume (gross) | CHF 186,072,600 |
Swiss securities no. / ISIN | 39 571 886 / CH0395718866 |
Settlement date | 23 December 2019 |
Distribution entitlement | The new units are entitled to receive distributions for the financial year 2019/2020. |
Schroder 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 20 billion. More than 200 employees in six 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 billion with its "Schroder ImmoPLUS" fund and the investment group of the Zurich Investment Foundation "Immobilien Europa Direkt". (Source: Schroders as at November 2019)
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”) that is managed by Schroder Investment Management (Switzerland) AG as the fund management company. Schroder ImmoPLUS is a contractual investment fund under Swiss law of the category “Real Estate Fund”. Subscriptions for shares of a managed investment fund can only be made based on the latest prospectus with integrated fund contract and the latest audited annual report (and the subsequent unaudited semi-annual report, if published). The risks connected with an investment are described in detail in the prospectus with integrated fund contract. The prospectus with integrated fund contract, the simplified prospectus as well as the annual and semi-annual report may be ordered free of charge from Schroder Investment Management (Switzerland) AG, Central 2, CH-8001 Zurich.
All statements, opinions and views contained in this document relating to future events or the possible future performance of any managed investment fund merely represent the fund management company’s own assessment and interpretation of information that was available to him at the relevant time. No representation is made or assurance is given that such statements, opinions and views are correct, or that the underlying information is accurate.
The funds managed by the fund management company may be offered or distributed in or from Switzerland only by licensed distributors. Units of this fund may not be offered, sold or delivered to citizens and/or residents of the United States of America and/or persons or entities whose income and/or revenue, irrespective of source, is subject to US income tax, including those deemed to be US persons under Regulation S of the US Securities Act. Of 1933 and/or the US Commodity Exchange Act, as amended.
This document has been published by Schroder Investment Management (Switzerland) AG, Central 2, 8001 Zurich, approved by and under the supervision of the Swiss Financial Market Supervisory Authority FINMA.
Further Information:
https://www.schroders.com/en/ch/asset-management/about-schroders2/press-releases/
Roger Hennig, Head Real Estate Switzerland, roger.hennig@schroders.com
Tel. +41 (0) 44 250 12 91
Alice West, Senior Corporate Communications Manager Switzerland, alice.west@schroders.com
Tel. +41 (0) 44 250 12 26
Note to Editors
Schroders plc
Schroders is a global investment manager with more than 215 years’ experience of helping our clients meet their goals, fulfil their ambitions, and prepare for the future. Schroders currently manages CHF 551.5 billion and employs over 5,000 people in across six continents.*
Schroders is listed on the London Stock Exchange and is a member of the FTSE 100. It also remains in part a family business, with almost half of voting shares held by the Schroder family. Independence and long-term thinking are central to our business philosophy – values reflected in our steady ownership structure.
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 private investors 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.
- Schroder Adveq is a leading private equity asset manager serving institutional investors, namely pension funds, insurance companies and others throughout the world.
Our combined Swiss team consists of around 400 people. Together they are responsible for a total of CHF 79.2 billion.**
Find out more about Schroders at www.schroders.ch
*as at 30 June 2019
**as at 31 December 2018
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