Update on the IPO of the Helvetica Swiss Opportunity Fund and the merger with the Helvetica Swiss Commercial Fund

Ad hoc announcement pursuant to Art. 53 KR, 4 June 2024 


Press release (PDF)
Marc Giraudon, CEO (JPG)

Zurich, 4 June 2024 – The merger between the Helvetica Swiss Commercial Fund (HSC Fund) and the Helvetica Swiss Opportunity Fund (HSO Fund) will be finalised in 2025, subject to approval by FINMA.

In addition to the amendments to the fund contract of the HSO Fund and the HSC Fund, which will also be published on 4 June 2024, the fund management company Helvetica Property Investors will provide information on the individual steps with regard to the planned merger of the two real estate funds, subject to approval by FINMA:

1.   Fund contract amendments regarding adjustment of the investment policy and harmonisation of the fund contracts were published.

2.   Listing of the HSO Fund is planned for the fourth quarter of 2024.

3    Formal application for FINMA approval of the merger will be submitted in the fourth quarter of 2024.

4.   Merger is planned for the first half of 2025.

The fund management company decided and announced in 2023 to merge the commercial real estate funds it manages. These are the listed HSC Fund for public investors and the HSO Fund for qualified investors. The ‘new’ HSC Fund brings several advantages for investors, such as a high-yield portfolio with increased diversification, a sustainable solid return, economies of scale and a stronger presence in the SXI Real Estate Funds Broad Index with better tradability of the shares. The merger is in the interests of investors in both real estate funds.

As a first step on the way to the merger, the investment policy of both real estate funds will be standardised with the published fund contract amendments of 4 June 2024. The HSO Fund will be expanded to include the option of investing a maximum of 30 per cent in residential properties. In addition, the exceptional provisions regarding investment policy and leverage will be removed. For the HSC Fund, the possibility of investing in specialised real estate will be explicitly listed. The amendments to the fund contract are subject to approval by FINMA.

In a further step, the investor groups of both real estate funds will be aligned. To this end, the HSO Fund will be opened up to public investors with an IPO. The units are expected to be listed on the SIX Swiss Exchange at the beginning of the fourth quarter of 2024.

Based on the same legal form, the same investment policy and the same group of investors, the fund management company will submit the formal application for approval of the merger between the HSC Fund and the HSO Fund to FINMA in the fourth quarter of 2024.

The merger is planned for the first half of 2025. The acquiring fund is the HSC Fund. The merger will be completed after payment of the redemptions made in both funds as at 31 December 2023 and based on the net asset values (and not market or stock exchange prices) of the two funds. The merger is subject to FINMA approval.

“We are convinced that the merger of the HSO Fund with the HSC Fund to form a real estate fund with a corresponding market breadth and stronger index presence is the right path for successful further development and will bring benefits and economies of scale for all stakeholders,” says Marc Giraudon, CEO of Helvetica.

The fund management company will provide regular updates on the next steps.

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About Helvetica
Helvetica Property Investors AG, founded in 2006, is a leading real estate fund and asset management corporation regulated by FINMA. We offer institutional investors and private investors lasting value through active and long-term ownership of secure and stable real estate assets with solid returns. With our fully integrated real estate asset platform, we cover the entire value chain, develop customer-specific investment solutions, and provide standardized investment products: The listed HSC Fund for commercial property, the HSO Fund for special commercial property, and the HSL Fund for residential property invest in attractive locations across Switzerland with good transport connections to regional economic centers. Our commitment to a sustainable future takes into account ESG requirements along the entire real estate life and investment cycle, and is formally integrated at fund level. Helvetica.com

Helvetica Swiss Commercial Fund
The HSC Fund is a Swiss real estate fund listed on the SIX Swiss Exchange and open to all investors. The HSC Fund invests in commercial and industrial properties in the most important economic areas of Switzerland. The fund's portfolio is geared towards long-term value preservation and features high location and property quality as well as broad diversification. The investment objective is primarily the long-term preservation of substance and the distribution of appropriate income. The HSC Fund is authorized by the Swiss Financial Market Supervisory Authority FINMA. Listing SIX Swiss Exchange; ticker symbol HSC; Valor 33 550 793; ISIN CH0335507932

Helvetica Swiss Opportunity Fund
The HSO Fund is a Swiss real estate fund open only to qualified investors. The HSO Fund invests in commercial special real estate in the Swiss economic centers. The focus is on fully leased properties with long-term leases and few tenants that generate stable income. The investment objective is mainly to preserve the value of the properties over the long term and to distribute appropriate income. The fund units are tradable over the counter. The HSO Fund is authorized by the Swiss Financial Market Supervisory Authority FINMA. Ticker Symbol HSO; Valor 43 472 505; ISIN CH0434725054

Disclaimer
This media release does not constitute a prospectus within the meaning of Art. 35 et seq. of the Federal Act on Financial Services or Art. 27 et seq. of the Listing Rules of SIX Swiss Exchange Ltd, nor a basic information sheet. It does not constitute an offer or a recommendation to subscribe for or redeem fund units but is intended solely for information purposes. This media release may contain forward-looking statements that are subject to uncertainties and risks and may change. Historical performance is no guarantee of current or future performance. The performance data do not take into account any commissions and costs charged on the subscription and redemption of units. The documents that are solely relevant for an investment decision, the prospectus with integrated fund contract as well as the current annual report can be obtained free of charge from the fund management company. This media release is not addressed to persons resident and/or domiciled outside Switzerland. In particular, this media release may not be made available or handed over to US persons within the meaning of the US Securities Act or US tax regulations, nor may it be distributed in the USA.
In case of doubt, the German version shall prevail.