Zurich, 27 May 2022
Ad hoc announcement pursuant to Art. 53 LR

Swiss Life REF (CH) Swiss Properties: First half-year 2021/2022 with increase in net asset value and renewed portfolio growth

The Swiss Life REF (CH) Swiss Properties real estate fund increased its half-year net asset value as at the end of March 2022 to CHF 112.01 (HY 2021: CHF 109.71). The real estate fund comprised 153 properties with a market value of around CHF 2350 million. As published on 26 April 2022, the fund name is to have the suffix “ESG” added to become Swiss Life REF (CH) ESG Swiss Properties due to the introduction of a dedicated sustainability strategy. The fund documents will also be amended accordingly. The amendment to the fund documents will enter into force on 1 June 2022, subject to approval by the Swiss Financial Market Supervisory Authority FINMA.

Swiss Life REF (CH) Swiss Properties invests in residential properties in Swiss cities and their suburbs as well as in centrally located commercial premises. At the end of the half-year as at 31 March 2022, the net asset value was CHF 112.01 (March 2021: CHF 109.71). This represents an increase of 2.1% compared to the previous year. Net income per fund unit was CHF 1.26 for the first half-year 2021/2022. Despite geopolitical challenges and macroeconomic uncertainties, the loss of rent rate was reduced to 2.97% (March 2021: 3.56%). At the beginning of the financial year as at 1 October 2021, the commission for managing the properties was reduced by 0.2% to 3.8% of the actual rent. Since its launch in November 2015, the fund has posted an annualised performance of around 8.55% based on the exchange price, some 1.79% above the reference index (SXI Real Estate Funds TR Index: 6.76%).

In December 2021, a Swiss Life Ltd. residential portfolio worth around CHF 340 million was acquired. The transaction was financed by a capital increase of around CHF 300 million, with a further CHF 40 million from debt capital. The purchase of the high-quality portfolio increased the share of residential use to 70%. The new properties corresponded to the very good location qualities of the fund properties, and the diversification in terms of tenant mix was further increased.

You can find the half-year report and further information on the fund on our website.

Fund information

Information

Media Relations

Phone +41 43 284 77 77

media.relations@swisslife.ch

Investor Relations
Phone +41 43 284 52 76
investor.relations@swisslife.ch

www.swisslife-am.com

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Swiss Life Asset Managers
Swiss Life Asset Managers has more than 165 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg, the UK and the Nordic countries.

As at 31 December 2021 assets under management for third-party clients amount to CHF 102.8 billion. Together with insurance mandates for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at CHF 276.3 billion. Swiss Life Asset Managers is a leading real estate manager in Europe¹. Of the assets totalling CHF 276.3 billion, CHF 87.2 billion is invested in real estate. In addition, Swiss Life Asset Managers, in cooperation with Livit, manages real estate totalling CHF 28.8 billion in value. Total real estate under management and administration at the end of December 2021 thus came to CHF 116 billion.

Swiss Life Asset Managers employs more than 2500 people in Europe.

Self-determined Life
Swiss Life enables people to lead a self-determined life and look to the future with confidence. Swiss Life Asset Managers pursues the same goal: We think long-term and act responsibly. We use our knowledge and experience to develop future-oriented investment solutions. This is how we support our clients in achieving their long-term investment objectives, which in turn also take account of their client’s needs so they can plan their financial future in a self-determined manner.

¹ INREV Fund Manager Survey 2021 (AuM as of 31.12.2020)

Disclaimer
This announcement has been produced with the greatest possible care and to the best of our knowledge and belief. However, we do not accept any liability for losses resulting from the use of this information. This publication is not intended as a solicitation or recommendation to buy or sell investment instruments, but only serves to provide information. Prior to subscribing or acquiring fund units on the stock exchange, investors should obtain and carefully read the detailed information on the fund contained in the regulatory documentation (prospectus with integrated fund contract, simplified prospectus and the latest annual and semi-annual reports) that serve as the sole legal basis for the purchase of fund units. These may be ordered free of charge in electronic or printed form from the fund management company, Swiss Life Asset Management Ltd., General-Guisan-Quai 40, 8002 Zurich.
Past performance is no indication of current or future performance. The performance data do not include commissions and costs incurred when issuing and redeeming fund units. Both Swiss Life Ltd. and the other members of the Swiss Life Group are entitled to units in this fund and to purchase and/or sell them. Swiss Life Asset Managers’ funds may not be offered for sale or sold in the US or on behalf of US citizens or US persons residing in the US. Swiss Life Asset Managers is the brand name for the asset management activities of the Swiss Life Group. More information is available at www.swisslife-am.com. Source: Swiss Life Asset Managers (unless stated otherwise). All rights reserved. Contact: info@swisslife-am.com.