The Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial (ISIN: CH0111959190) achieved a solid result in the 1st half of 2021, raising net income and reducing the rent default rate. Net income increased from CHF 8.2 million in the prior year period to CHF 9.5 million. The portfolio value also has developed positively since the beginning of the year with a net appreciation of 0.7%.
The higher net income is due on the one hand to the qualitatively increased portfolio. On the other hand, various significant operational progress was made at property level. For example, the last commercial space in the converted property at Mellingerstrasse 18 in Baden was successfully let. The property is now fully let. Overall, the rent default rate in the fund's existing portfolio fell from 9.26% in 2020 to 7.97% in the first half of 2021.
For the entire fiscal year 2021, the fund continues to aim at maintaining the attractive distribution. For this purpose, the proven investment strategy and the responsible growth course will be maintained.