SF Sustainable Property Fund

The SF Sustainable Property Fund invests in real estate and real estate projects in the whole of Switzerland. The real estate fund mainly focuses on residential use.

The real estate fund systematically and step-by-step optimises properties in line with defined sustainability criteria (ESG) during the period of ownership. With the objective being to reach the Federal Council’s climate objectives for 2030 and 2050 (net zero by 2050 at the latest), the focus falls mainly on environmental criteria (E of ESG), in particular on the improvement of energy efficiency and the reduction of greenhouse gas emissions.

Milestones

The SF Sustainable Property Fund successfully completed the new "DreiFurlen" in Lausen building and acquired a fully let residential and commercial building located near the lake in Rorschach. Another interesting building project is being planned in St. Gallen.

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Key Figures

107
Number of investment properties in the portfolio as at 31 December 2023
1.45
CHF billion portfolio value of the investment properties as at 31 December 2023
3.87
Percent gross yield of the portfolio as at 31 December 2023

Selected Properties

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residential: Frobenstrasse 37, Basel
Frobenstrasse 37, Basel Residential property
Rental Space 1 743 m2
Market Value CHF 14 890 000
residential: Via Ronchetto 16-22 / Via Torricelli 21-27, Lugano
Via Ronchetto 16-22 / Via Torricelli 21-27, Lugano Residential property
Rental Space 12 619 m2
Market Value CHF 47 860 000
residential: Schulstrasse 147 - 181, Regensdorf
Schulstrasse 147 - 181, Regensdorf Residential property
Rental Space 8 073 m2
Market Value CHF 50 760 000

Factsheet

SF Sustainable Property Fundas at 29 February 2024

Price CHF125.50

Description

The SF Sustainable Property Fund invests in real estate and real estate projects in the whole of Switzerland. The real estate fund mainly focuses on residential use. The real estate fund systematically and step-by-step optimises properties in line with defined sustainability criteria (ESG) during the period of ownership.

Fund Data

NameSF Sustainable Property Fund
Fund management companySwiss Finance & Property Funds Ltd
AuditorsPricewaterhouseCoopers AG
Depositary bankCredit Suisse (Schweiz) AG
Valuation expertWüest Partner AG
Market MakerSwiss Finance & Property Ltd
Legal formInvestment funds under Swiss law in the "real estate funds" category
Holding structure real estateDirect property
Reference currencyCHF
BenchmarkSXI Real Estate Funds Broad
Launch date27 December 2010
Listing17 November 2014
Security / ISIN number12079125 / CH0120791253
Bloomberg codeSFPF SW
Management fee0.60% p.a.
Tax value per unit
as at 31 December 2023
CHF 1.68
Market capitalisation
as at 29 February 2024
CHF 1 056.3 mn

Market Value by Region

Type of Usage

Summary Risk Indicator

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Performance

(reset on base 100)

Cumulative Performance

YTD1 mt3 mts1 year3 years5 yearsSince
Inception
Fund1.62%-0.79%9.13%-0.67%-10.68%10.98%116.24%
Benchmark2.80%0.33%8.22%6.42%0.26%24.10%87.09%

Ratios

Ratios on return and performanceUnit30 Jun. 202331 Dec. 2022
Investment yield%-0.8114.18
Operating profit margin%59.6060.74
Return on equity%-0.7914.06
Return on invested capital (ROIC)%-0.3812.93
Dividend yield%n/a2.78
Payout ratio%n/a102.71
Premium%-4.00 0.89
Ratios on the balance sheetUnit30 Jun. 202331 Dec. 2022
Market value of propertiesCHF1 522 044 0001 544 375 000
Gross asset valueCHF1 543 001 9801 567 633 611
Net fund assetsCHF1 012 557 3121 050 288 500
Borrowing ratio%28.7527.44
Ratios on the income statementUnit30 Jun. 202330 Jun. 2022
Rental incomeCHF 26 785 189 25 862 607
Rent default rate% 7.08 6.58
Net incomeCHF 12 404 407 15 182 500
TERREF (GAV)%0.78 0.79
TERREF (MV)%1.16 0.93
Ratios on the unitsUnit30 Jun. 202331 Dec. 2022
Net asset value at end of reporting periodCHF 120.31 124.79
Distribution per unitCHFn/a 3.50
‒ of which free of withholding taxCHFn/a 3.50
Units at end of reporting periodpc. 8 416 494 8 416 494
Historical performance data is no guarantee for future income. The funds' income and the value of the funds' units may increase as well as decrease and cannot be guaranteed. When units are redeemed, the investor may get back less money than originally invested.
1 Calculation for six months (1 January to 30 June).

GRESB Rating

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GRESB Rating Standing Investment4 out of 5
GRESB Score Standing Investment85 out of 100
GRESB Average75 out of 100
GRESB Peer Average82 out of 100

GRESB Portfolio Summary

<p>Source: GRESB</p><p><sub>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</sub></p>

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

GRESB ESG Breakdown

<p>Source: GRESB</p>

Source: GRESB

The information in the factsheet linked below is relevant.

Sustainability

With its sustainability strategy, the SF Sustainable Property Fund aims to optimise the properties systematically and gradually and with regard to defined sustainability criteria. ESG requirements are considered throughout the entire investment process along the real estate life and investment cycles.

The investment objective, investment policy and sustainability strategy of the SF Sustainable Property Fund are defined in the prospectus with integrated fund contract. The following is a summary of the sustainability strategy.

The goal of the sustainability strategy of the SF Sustainable Property Fund is to achieve net zero by 2050 at the latest (climate targets 2030 and 2050 of the Federal Council). The targeted impact is to be achieved through a combination of sustainability approaches. Corresponding sustainability criteria and key performance indicators have been defined to implement the sustainability approaches. The focus is on increasing energy efficiency and reducing greenhouse gas emissions.

Sustainable Investment Approaches

In addition to a financial return, a measurable, positive ecological impact should also be achieved. Impact investments have three main characteristics: The intentionality of an investment in terms of positive environmental impact, the management process, and the measurability of impact through relevant key performance indicators.

ESG risks and opportunities are incorporated into traditional financial analysis and investment decisions based on a systematic process and appropriate research sources.
Environmental sustainability criteria: Increase in energy efficiency & reduction of greenhouse gas emissions (reduction paths)

  • Existing properties: GEAK C (overall energy efficiency class of the building energy certificate of the cantons)
  • New buildings: GEAK B and sustainability label SGNI (Swiss Society for Sustainable Real Estate) or equivalent sustainability label [1]

Social sustainability criteria: Promotion of sustainable mobility options and enhancement of the quality of stay and accessibility in new buildings and overall renovations.

Sustainability criteria for good corporate governance: transparent sustainability reporting, ESG task force, specific assessment of sustainability risks.

[1] If the certification costs exceed 5% of the total costs of the new building, additional certification can be waived as an exception.

Properties are excluded from the investment policy based on defined exclusion criteria.

  • Exclusion of properties located more than one kilometre from a railway station.
  • Exclusion of commercial tenants from the gambling, arms and sex industries.

To meet the dynamics of the topic of sustainability, the sustainability strategy as well as the sustainability approaches are systematically revised at least every five years and realigned if necessary.

To meet the dynamics of the topic of sustainability, the sustainability strategy as well as the sustainability approaches are systematically revised at least every five years and realigned if necessary.

A detailed presentation and explanation of the key indicators – including the current status (2021) and intermediate targets up to 2050 – can be found below.

Acquisition Profile

Sustainable residential properties in well-connected locations

  • Minimum size CHF 10.0 million

  • Asset deal

  • Good connections to public transport

  • Good condition, compliance with sustainability standards

  • Sole ownership preferred

  • Contact Now

News-Room

Show all
27.03.2024
News | SF Sustainable Property Fund
Green to the power of three – UNUS in St. Gallen
21.03.2024
Ad hoc announcements | SF Sustainable Property Fund
SF Sustainable Property Fund – Solid result for 2023 in a challenging market environment
22.02.2024
News | SF Sustainable Property Fund
Two refurbishments in Basel-Stadt successfully completed

Contact

Portrait Nicolas Beutler
Nicolas Beutler

Portfolio Manager Real Estate Direct
SF Sustainable Property Fund

Member of Senior Management

Portrait Patrick Sege
Dr Patrick Sege

Head Client Relationship Management & Marketing

Regular news and information on current topics.