After receiving definitive approval from the Swiss Financial Market Supervisory Authority (FINMA) on 28 January 2021, UBS Asset Management’s property business, Real Estate Switzerland, can now advance with the take over of the fund management of Residentia, the only listed real estate fund in the market that focuses on Southern Switzerland.
UBS Fund Management (Switzerland) AG will take over the fund management of Residentia as of 1 February 2021. Following intensive preparation in recent weeks, the transfer will take place as scheduled.
Residentia was founded in 2009 in accordance with Swiss law, and is the only fund in the market with an investment focus on Southern Switzerland. The portfolio primarily comprises residential property in the canton of Ticino, with total assets of around CHF 275 million (as of 30 June 2020). A strong local presence will be maintained through the collaboration with Pagani Real Estate SA, which will support the fund management company in areas such as real estate management, property transactions and investor relations.
Real Estate Switzerland’s proven 75-year track record, combined with local expertise, set out the ideal qualifications to continue the successful management of Residentia as well as the existing property portfolio in the future.
You can find more information at https://www.ubs.com/realestatefunds-switzerland and at https://www.residentia.ch/en/.
