Positive market trend strengthens portfolio development
The listed real estate fund Swiss Life REF (CH) ESG Swiss Properties reports total income of CHF 121.5 million for the 2024/2025 financial year. The net asset value per unit thus rose by 2.6 per cent to CHF 116.65, with a return on investment of 5.1 per cent.
The listed real estate fund Swiss Life REF (CH) ESG Swiss Properties recorded a significant increase in total income of CHF 121.5 million for the 2024/2025 financial year, compared to CHF 57.6 million in 2023/2024, according to a statement from Swiss Life. The return on investment was 5.1 per cent.
The reason for the positive performance is the 2.4 per cent net change in the market value of its properties. As at 30 September 2025, the fund held a total of 194 portfolio properties with a market value of CHF 3,233 million. The fund only recorded a decline in net income, which is mainly due to higher income taxes.
The net asset value (NAV) per unit increased to CHF 116.65, which corresponds to an increase of 2.6 per cent compared to the previous year. The total distribution for 2024/2025, which will take place on 28 November 2025, amounts to CHF 2.70 per unit (CHF 58.3 million in total), with realised income of CHF 2.71 per unit (CHF 58.5 million in total). In relation to the market price, the distribution yield is therefore 2.03 per cent; in relation to the NAV, it is 2.31 per cent.
The fund’s portfolio grew by one residential property in 2024/2025, while eight smaller properties were sold. These transactions led to a net capital gain totalling CHF 6.1 million and, thanks in part to the positive changes in the market value of the properties, to a reduction in the leverage ratio to 20.6 per cent (2024: 22.1 per cent). The total return in the reporting period was 14.8 per cent.