The fund management of the real estate fund «ZIF Immobilien Direkt Schweiz» reports satisfactory results for the financial year 2025/2026. This period was characterised by a consistent strategy for income optimisation and active exploitation of potential. As at 30 June 2026, the fund's portfolio comprised 60 properties, with a market value of approximately CHF 1.66 billion.
The fund continues to focus on residential use and mixed uses, with a clear concentration on the Greater Zurich and Lake Geneva areas. A residential share of 82.2 per cent by target rent and predominantly good to very good location quality of the properties underscore the fund's broad positioning and long-term attractiveness. During the reporting year, rental income rose by 3.63 per cent to around CHF 52.4 million, with a low rent default rate of 3.28 per cent. The market value of the overall portfolio increased by 10.7 per cent or CHF 160.5 million, which is largely due to successfully completed development projects and strategic implementation.
The net asset value per unit reached CHF 118.79 as at 30 June 2026, corresponding to an investment return of 9.44 per cent. The further development of the existing portfolio and a clearly defined project pipeline continue to form the central pillars of the fund management's strategy.
Strategic Projects and Planned Developments
An important project, the comprehensive refurbishment of the property at Baarerstrasse in Zug, was completed on schedule and achieved full occupancy. A replacement new build with 255 residential units at Glatt-/Grosswiesenstrasse in Zurich is currently under construction and is expected to further strengthen the portfolio in the future; phased occupancy is planned from February 2027. Furthermore, the refurbishment and addition of storeys to the property at Ferdinand-Hodler-Strasse in Zurich is planned from 1 October 2026. In addition, the fund management selectively evaluates acquisitions to complement the portfolio where attractive long-term income and value appreciation potential can be identified.
Capital Increase for Financing Acquisitions and Projects
The fund management is considering an issuance in November 2026 to acquire funds amounting to approximately CHF 150 to 180 million. This capital increase is intended for the acquisition of four properties from the portfolio of Zürich Versicherungs-Gesellschaft AG and Zürich Lebensversicherungs-Gesellschaft AG, as well as for other selective acquisitions and the planned comprehensive refurbishment of the property at Ferdinand-Hodler-Strasse in Zurich. The necessary approval from FINMA for this transaction has already been obtained. Detailed issuance conditions are expected to be published at the end of October 2026. The issue price will be determined based on the inventory value as at 30 June 2026 plus accrued income up to the payment date and an issue commission.
