Credit Suisse Real Estate Fund Global – Successful Launch of the First Swiss Real Estate Fund for Private and Institutional Investors Investing Exclusively in Properties Outside Switzerland
The initial issue of the real estate fund Credit Suisse Real Estate Fund Global with a subscription period from November 7-18, 2011, met with considerable interest from investors. Subscriptions amounting to CHF 231 million were received.
Credit Suisse has launched the Credit Suisse Real Estate Fund Global (CS REF Global), the first Swiss real estate fund that makes diversified investments in foreign real estate and is listed on the SIX Swiss Exchange. The fund is therefore not only open to institutional investors, but also provides private investors with access to this type of investment. Payment for the securities subscribed and hence the first day of trading on the Swiss Exchange is Tuesday, November 29, 2011.
In spite of the difficult international market environment, investors subscribed to a total of 2’310’000 units, corresponding to a volume of CHF 231 million. This subscribed amount represents a good starting volume. Moreover, on the basis of the subscriptions, the fund can demonstrate a broadly diversified investor structure.
The investment objective of CS REF Global is to achieve continuous capital appreciation and ensure regular income distributions through a geographically diverse, international real estate portfolio. The fund strives to invest roughly one third of the portfolio in European countries (excluding Switzerland), one third in the Asia-Pacific region, and one third in the Americas. It focuses on high-quality commercial properties. A majority of the net assets are hedged against currency fluctuations versus the Swiss franc (CHF).