The SF Retail Properties Fund invests in properties with retail space, throughout Switzerland. The assets include the ancillary rooms and associated parking facilities required for the tenant’s operations.
Besides retail space, these properties may also contain industrial space, offices or apartments. The criteria taken into account for investments include but are not limited to upside potential, tenant creditworthiness, quality of construction and building materials. The long-term objective of the fund is to achieve the Federal Council's climate targets for 2030 and 2050 by implementing the climate-alignment sustainability approach.
| Price CHF | 108.00 |
The SF Retail Properties Fund invests in properties with retail space, throughout Switzerland. The assets include the ancillary rooms and associated parking facilities required for the tenant’s operations. Besides retail space, these properties may also contain industrial space, offices or apartments. The criteria taken into account for investments include but are not limited to upside potential, tenant creditworthiness, quality of construction and building materials.
| Name | SF Retail Properties Fund |
| Fund management company | Swiss Finance & Property Funds Ltd |
| Auditors | PricewaterhouseCoopers AG |
| Depositary bank | Zürcher Kantonalbank |
| Valuation expert | Wüest Partner AG |
| Market Maker | Swiss Finance & Property Ltd |
| Legal form | Investment funds under Swiss law in the "real estate funds" category |
| Holding structure real estate | Indirect property |
| Reference currency | CHF |
| Benchmark | SXI Real Estate Funds Broad |
| Launch date | 6 August 2015 |
| Listing | 3 October 2017 |
| Security / ISIN number | 28508745 / CH0285087455 |
| Bloomberg code | SFR SW |
| Management fee | 0.65% p.a. |
| Tax value per unit as at 31 December 2023 | CHF 107.00 |
| Market capitalisation as at 31 March 2024 | CHF 699.8 mn |
(reset on base 100)
| YTD | 1 mt | 3 mts | 1 year | 3 years | 5 years | Since Inception | |
| Fund | 5.39% | 1.14% | 5.39% | 17.62% | 3.39% | 16.09% | 46.16% |
| Benchmark | 5.92% | 3.04% | 5.92% | 11.72% | 0.86% | 24.87% | 43.63% |
| Ratios on return and performance | Unit | 31 Dec. 2023 | 31 Dec. 2022 |
| Investment yield | % | 1.29 | 4.59 |
| Operating profit margin | % | 71.48 | 71.13 |
| Return on equity | % | 1.23 | 4.40 |
| Return on invested capital (ROIC) | % | 1.18 | 3.26 |
| Dividend yield | % | 4.07 | 4.30 |
| Payout ratio | % | 99.13 | 93.09 |
| Premium | % | 5.57 | (3.18) |
| Ratios on the balance sheet | Unit | 31 Dec. 2023 | 31 Dec. 2021 |
| Market value of properties | CHF | 885 635 800 | 882 913 500 |
| Gross asset value | CHF | 904 146 773 | 896 903 037 |
| Net fund assets | CHF | 615 744 099 | 634 366 236 |
| Borrowing ratio | % | 24.93 | 22.12 |
| Ratios on the income statement | Unit | 31 Dec. 2023 | 31 Dec. 2022 |
| Rental income | CHF | 42 957 989 | 42 735 316 |
| Rent default rate1 | % | 6.45 | 6.18 |
| Net income | CHF | 26 659 362 | 28 388 857 |
| TERREF (GAV) | % | 0.85 | 0.85 |
| TERREF (MV) | % | 1.23 | 1.10 |
| Ratios on the units | Unit | 31 Dec. 2023 | 31 Dec. 2022 |
| Net asset value at end of reporting period | CHF | 101.36 | 104.42 |
| Distribution per unit | CHF | 4.35 | 4.35 |
| ‒ of which free of withholding tax | CHF | 2.45 | 3.15 |
| Units at beginning of reporting period | pc. | 6 075 000 | 6 075 000 |
| GRESB Rating Standing Investment | 4 out of 5 |
| GRESB Score Standing Investment | 85 out of 100 |
| GRESB Average | 75 out of 100 |
| GRESB Peer Average | 70 out of 100 |
Source: GRESB
All intellectual property rights to this data belong exclusively to GRESB B.V. All rights reserved. GRESB B.V. has no liability to any person (including a natural person, corporate or unincorporated body) for any losses, damages, costs, expenses or other liabilities suffered as a result of any use of or reliance on any of the information which may be attributed to it
Source: GRESB
The information in the factsheet linked below is relevant.
The long-term objective of the SF Retail Properties Fund is to achieve the Federal Council's climate targets for 2030 and 2050 (net zero by 2050 at the latest) by implementing the climate-alignment sustainability approach. Sustainability aspects are considered both in the investment process and along the investment and property life cycles.
The investment objective, investment policy and sustainability strategy of the SF Retail Properties Fund are defined in the prospectus with integrated fund contract.
The portfolio's climate alignment is focused on reducing the environmental footprint over time by lowering its greenhouse gas emissions of the portfolio. The greenhouse gas emissions are defined in accordance with the Greenhouse Gas (GHG) Protocol and comprise scope 1 and scope 2. In the long term, the climate alignment focuses on achieving the Federal Council's climate targets for 2030 and 2050 (net zero by 2050 at the latest), and is supported by reduction paths along with interim targets.
In order to keep pace with the momentum of the sustainability movement, the sustainability strategy is systematically revised at least once every five years and amended, if needed.
A detailed illustration and explanation of the key figures – including the current situation and interim targets by 2050 – is provided below.
Here you can find the description of the key performance indicators existing properties and new building and complete renovation.
Head Direct Funds & Foundation
Portfolio Manager Real Estate Direct
SF Retail Properties Fund
Head Client Relationship Management & Marketing
