The fund management company of the Helvetia (CH) Swiss Property Fund announces the terms of the planned capital increase

Helvetia Asset Management AG will carry out a capital increase of around CHF 166 million for the Helvetia (CH) Swiss Property Fund. The issue proceeds will be used to acquire a real estate portfolio of Helvetia Swiss Life Insurance Company Ltd with a market value of around CHF 252 million.

28.02.2025 | Ad hoc announcement pursuant to Art. 53 LR

On 19 February 2025, Helvetia Asset Management AG announced that it was considering the acquisition of a real estate portfolio with a market value of around CHF 252 million for the Helvetia (CH) Swiss Property Fund. A capital increase of up to around CHF 166 million is to be carried out to finance the purchase of the properties. The remaining purchase price is to be financed by borrowing.

The issue proceeds will be used by the fund management company to acquire a real estate portfolio of seven properties belonging to Helvetia Swiss Life Insurance Company Ltd. On 11 February 2025, FINMA granted the fund management company an exemption from the prohibition on transactions with related parties pursuant to Art. 63 para. 2 and 4 CISA in conjunction with Art. 32a CISO for the transfer of these properties.

The portfolio to be acquired consists of seven Core/Core Plus properties with a high residential focus across four cantons and is characterised by a high quality of properties and locations that are aligned with the existing portfolio, with corresponding earnings, value stability and market rent potential.

Issue conditions
The new units will be issued on a commission basis (“best effort” basis) as part of a public subscription offer in Switzerland. A maximum of 1,625,000 new units will be issued, which corresponds to a subscription ratio of 5:1. Accordingly, five (5) subscription rights entitle the holder to subscribe to one (1) new share. The issue price of CHF 102.00 is based on the net asset value as at 30 September 2024, plus the buy-in in current income and the issuing commission of 1.5%. The number of units outstanding will increase from 8,125,000 to a maximum of 9,750,000. Units that are not subscribed to may not be issued, which would reduce the issue amount. At the end of the subscription period, the fund management company reserves the right to place any unsubscribed units on the market with due care together with the custodian bank or third parties.

Trading in subscription rights will run from 7 to 17 March 2025 on SIX Swiss Exchange AG and the subscription period will run from 7 to 19 March 2025, at 12 noon (CET). The new units will be paid up on 24 March 2025.

Issue volume	Up to CHF 165,750,000
Subscription ratio	5 : 1 / five (5) previous units entitle the holder to purchase one (1) new unit
Issue price	CHF 102.00 net per unit including issuing commission of 1.5% to the fund management company
Type of issue	The issue will be executed on a commission basis (“best effort” basis) as part of a public subscription offer in Switzerland.
Number of existing units	8,125,000
Number of new units	Up to 1,625,000
Security number / ISIN / ticker symbols of the subscription right	Security number: 141884131/ ISIN: CH1418841313 / HSPF1
Subscription period	7 March 2025 to 19 March 2025, 12 noon (CET)
Subscription rights trading	7 March to 17 March 2025 on SIX Swiss Exchange
Subscription payment and first trading day for the new units	24 March 2025
Appropriation of issue proceeds	The issue proceeds will be used to acquire a real estate portfolio of Helvetia Swiss Life Insurance Company Ltd with a market value of around CHF 252 million.
Lead Manager	Zürcher Kantonalbank, Zürich

Further details on the capital increase and the property portfolio to be acquired are available in the issue prospectus and the investor presentation at www.swissfunddata.ch and www.helvetia-am.ch.

Fund portrait
The Helvetia (CH) Swiss Property Fund is a contractual investment fund under Swiss law of the type real estate fund. The fund was launched on 3 June 2020 and listed on the SIX Swiss Exchange on 25 June 2024. It invests directly in high-quality real estate with a focus on residential properties in large cities, medium-sized towns and their agglomerations throughout Switzerland.
The main part of the portfolio (almost 80%) is invested in residential use, supplemented by mixed-use and commercial properties. The focus of the portfolio strategy is on optimising current income, realising the potential of the portfolio and actively managing the portfolio. The fund has 46 properties and is broadly diversified in terms of location, building age and tenant structure.
The market value of the fund’s real estate portfolio was CHF 1,081 million as at 30 September 2024. Following the capital increase, the market value of the fund is expected to be around CHF 1.3 billion, which will increase the liquidity of the units.

Fund information

Name	Helvetia (CH) Swiss Property Fund
Security no./ISIN	Security no.: 51383832 / ISIN: CH0513838323
Ticker symbol	HSPF
Legal form	Contractual real estate fund under Swiss law
Fund domicile	Switzerland
Investor group	unlimited
Distribution policy	distributing
Launch date	3 June 2020
Reporting year	1 October to 30 September
Fund management company	Helvetia Asset Management Ltd, Basel
Portfolio management	Helvetia Asset Management Ltd, Basel
Custodian bank	Zürcher Kantonalbank, Zurich
Market maker	Bank J. Safra Sarasin AG, Zurich

The prospectus with integrated fund agreement, the Key Information Document as well as the annual and semi-annual reports are available at www.swissfunddata.ch and www.helvetia-am.ch.

Contact information

Analysts
Peter Eliot
Head Investor Relations
Helvetia Group

Phone: +41 (0)58 280 59 19
investor.relations@helvetia.ch

Media
Rebecca Blum
Corporate Communications
Helvetia Group

Phone: +41 (0)58 280 50 33
media.relations@helvetia.ch

Further information

Ad hoc announcement (PDF)

Notices overview

About Helvetia Asset Management Ltd

Helvetia Asset Management Ltd is regulated by the Swiss Financial Market Supervisory Authority FINMA and provides fund management and asset management services. It offers collective investment schemes and is an independent fund management company operating in the interests of its investors. The company also provides asset management and investment advice for real estate and mortgage investments of collective investment schemes, pension schemes and institutional investors. It also provides other services for real estate and mortgage investments and carries out management and administration for investment foundations, including related activities in the area of investment and distribution. Helvetia Asset Management Ltd has its registered office in Basel, Switzerland, and is a wholly owned subsidiary of Helvetia Holding Ltd, St. Gallen, Switzerland.

Disclaimer

Helvetia (CH) Swiss Property Fund is a contractual investment fund under Swiss law of the type “real estate fund” (hereinafter “real estate fund”). This real estate fund is distributed exclusively in Switzerland, and the units of the real estate fund may only be offered in Switzerland. The real estate fund is not available to US persons. Neither this announcement nor any copy thereof may be sent, taken into or distributed in the USA or to persons who are deemed to be US persons (among other things pursuant to Regulation S of the US Securities Act and the US Income Tax Law). This announcement may not be reproduced, either in full or in part, without the written permission of Helvetia Asset Management Ltd. The details given of the real estate fund are intended exclusively as information and do not constitute legal, tax or financial advice, nor are they an offer or a recommendation to buy or sell investment instruments or other financial services or a solicitation or invitation to submit an offer. Historical performance is not an indicator of current or future performance. Performance data do not include the commission and costs incurred on the issue and redemption of units. The main risks of real estate investments include limited liquidity in the real estate market, changes in mortgage interest rates, the subjective valuation of real estate, inherent risks in connection with the construction of buildings and environmental risks. All information in this announcement has been prepared with the greatest of care and in good faith. The fund management company does not accept liability for any losses arising from the use of this information. The sole binding basis for the purchase of or subscription to fund units is the prospectus with the integrated fund agreement, the Key Information Document and the latest annual and semi-annual report. These documents can be obtained free of charge from the fund management company, Helvetia Asset Management Ltd, St. Alban-Anlage 26, 4002 Basel, Switzerland, or the custodian bank, Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, Switzerland. This announcement is published in several languages. Should there be any inconsistencies between the German version and a version in another language, the German version shall prevail.