Residentia publishes its first annual financial statements following the management transfer to UBS Fund Management (Switzerland) AG in February 2021

Zurich22 Apr 2022, 17:40 CESTInvestmentsSwitzerlandReal Estate Switzerland

  

The switch to a new fund management company completed on 1 February of the 2021 reporting year generated extensive efforts at operational and organizational level. Residentia is equipped with a solid foundation and a highly committed team and has thus devised the optimal factors to leverage the opportunities in the Ticino market and achieve the ambitious objectives it has set.

Selective growth in urban locations in Ticino as well as strategic portfolio adjustments allowed Residentia to stabilize the market value of its real estate portfolio at around CHF 247 million as at the end of the 2021 financial year. One of the top priorities remains the strengthening of the fund's earning power, or operational cash flow, whereby the reduction in the fund operating expense ratio (TERREF) – GAV from 0.87% to 0.72% has contributed to a discernable improvement. Notable highlights include a distribution yield of 2.1%, which is reasonable in the current environment, and the increase in the return on investment from 1.4% to 2.8%, among other things attributable to total income doubling in comparison to 2020.

In view of the achieved results and of the need to finance value-creating renovations within the fund in the medium and long term, fund management has designated a total distribution of CHF 2.40 per share. The amount consists of 97.3% of the available operational cash flow (i.e. CHF 2.20 per share) and 53% of the realized capital gains (i.e. CHF 0.20 per share).

The ex-date for the distributions is 26 April 2022, and the value date is 28 April 2022.

Residentia

Residentia

31.12.2020

31.12.2020

31.12.2021

31.12.2021

Residentia

Net asset value (CHF)

31.12.2020

115.95

31.12.2021

116.05

Residentia

Gross income distribution (CHF per share, no withholding tax)

31.12.2020

2.60

31.12.2021

2.20

Residentia

Gross capital distribution (CHF per share, no withholding tax)

31.12.2020

0.40

31.12.2021

0.20