Helvetia (CH) Swiss Property Fund reports a successful result for the 2025 financial year

Ad hoc announcement pursuant to Art. 53 LR



Basel, 9 December 2025

Helvetia (CH) Swiss Property Fund posts a solid result in its sixth financial year: total income of CHF 49.62 million was achieved in 2025. This is based on solid net income and positive changes in market values of the property portfolio. The resulting investment yield of 5.15% reflects the continuous growth of the Fund in the year under review.

The focus of the past financial year was the capital increase of around CHF 166 million, which was successfully completed in spring 2025. As part of this transaction, seven high-quality properties with a value of CHF 252 million were acquired from Helvetia Insurance’s portfolio. The market value of the fund's overall portfolio now amounts to CHF 1,319 million and offers investors broad diversification – both in terms of macro- and micro-locations as well as in terms of the economic age and tenant structure of the properties.

In addition, the fund once again participated in the Global Real Estate Sustainability Benchmark (GRESB) and was awarded the highest rating of five stars.

Solid operating result
In the 2025 financial year, Helvetia (CH) Swiss Property Fund generated net income of CHF 26.23 million, which corresponds to a significant year-on-year increase of over 17% (CHF 22.32 million). Realised capital gains amounted to CHF 4.93 million (previous year: CHF 0.37 million), while unrealised capital gains came to CHF 24.89 million (previous year CHF 3.96 million). These unrealised gains resulted from positive revaluations of the existing portfolio and reflect both the renewed attractiveness of real estate investments and the high quality of the portfolio. Realised gains arose from the sale of four properties well above market value. After deduction of the estimated liquidation taxes, the total result was CHF 49.62 million, which corresponds to an attractive investment yield of 5.15% (previous year: 3.01%).

The pronounced focus on residential properties, which account for around 80% of target rental income, once again made a significant contribution to the stable performance of the Helvetia (CH) Swiss Property Fund in the reporting year. Rental income increased to CHF 47.40 million (previous year: CHF 42.63 million), which further strengthened the Fund’s profitability. The already very low rent default rate was further reduced through active asset management and now stands at 1.44% (PY: 2.06%).

Increase in net asset value and stable distribution
The net asset value per unit increased by 2.31% last year, from 101.84 Swiss francs to 104.19 Swiss francs. The market value of the properties increased year on year by CHF 237.83 million or +21.99% to a total of CHF 1,319.25 million. Like-for-like, the portfolio value change amounted to CHF 28.42 million or +2.75%¹. The higher valuation of the existing portfolio by the independent valuation experts at Wüest Partner is largely attributable to higher income and market rents as well as a reduction in the average discount rate.

The net income generated in the 2025 financial year amounted to CHF 2.69 per unit (PY: CHF 2.75 per unit). The lower net income per unit compared with the previous year is attributable to a one-off tax effect of CHF 1.08 million or CHF 0.11 per unit. This resulted from retroactively higher capital taxes in the canton of Geneva. In total, the fund distributes 102.20% of its net income to investors. The dividend for 2025 remains stable at CHF 2.75 per unit with distribution on 18 December 2025 (ex-dividend: 15 December 2025). Based on the market price of CHF 128.00 as at 30 September 2025, this results in a distribution yield of 2.15%.

Strong performance in a positive market environment
The interest rate cuts by the Swiss National Bank have noticeably brightened the mood on the market for indirect real estate investments. The Helvetia (CH) Swiss Property Fund achieved an above-average performance of 21.18% in the period from 1 October 2024 to 30 September 2025, significantly outperforming the relevant benchmark SXI® Real Estate Funds Broad TR, which generated a total return of 12.70% in the same period. Since its launch in 2020, the total return has been 48.46%, outperforming the benchmark by 15.96%.

Outlook for the 2026 financial year
The fund management company intends to expand the real estate portfolio in a targeted manner in the 2026 financial year. The interests of investors and the sustainable, long-term success of the fund are at the heart of the further growth of the fund. To this end, a capital increase is planned at the end of March 2026. The proceeds of the issue are to be used to acquire a real estate portfolio from Helvetia Insurance's property holdings. At the same time, the fund management company is pushing ahead with its planned construction projects in a targeted manner in order to modernise the existing buildings and tap into potential value.

With total assets of CHF 1.3 billion, the fund now ranks among the mid-sized listed Swiss real estate funds. In light of the size achieved and in order to pass on economies of scale to investors, a reduction in the management fee from 0.60% to 0.55% is planned as of 1 April 2026.

¹⁾  42 properties that were held in the portfolio throughout the financial year were taken into account for the like-for-like analysis.

Fund information

The prospectus with integrated fund agreement, the Key Information Document as well as the annual and semi-annual reports are available at www.swissfunddata.ch and www.helvetia-am.ch.

About Helvetia Asset Management Ltd
Helvetia Asset Management Ltd is regulated by the Swiss Financial Market Supervisory Authority FINMA and provides fund management and asset management services. It offers collective investment schemes and is an independent fund management company operating in the interests of its investors. The company also provides asset management and investment advice for real estate and mortgage investments of collective investment schemes, pension schemes and institutional investors. It also provides other services for real estate and mortgage investments and carries out management and administration for investment foundations, including related activities in the area of investment and distribution. Helvetia Asset Management Ltd has its registered office in Basel, Switzerland, and is a wholly owned subsidiary of Helvetia Baloise Holding Ltd, Basel, Switzerland.

Disclaimer
Helvetia (CH) Swiss Property Fund is a contractual investment fund under Swiss law of the type “real estate fund” (hereinafter “real estate fund”). This real estate fund is distributed exclusively in Switzerland, and the units of the real estate fund may only be offered in Switzerland. The real estate fund is not available to US persons. Neither this announcement nor any copy thereof may be sent, taken into or distributed in the USA or to persons who are deemed to be US persons (among other things pursuant to Regulation S of the US Securities Act and the US Income Tax Law). This announcement may not be reproduced, either in full or in part, without the written permission of Helvetia Asset Management Ltd. The details given of the real estate fund are intended exclusively as information and do not constitute legal, tax or financial advice, nor are they an offer or a recommendation to buy or sell investment instruments or other financial services or a solicitation or invitation to submit an offer. Historical performance is not an indicator of current or future performance. Performance data do not include the commission and costs incurred on the issue and redemption of units. The main risks of real estate investments include limited liquidity in the real estate market, changes in mortgage interest rates, the subjective valuation of real estate, inherent risks in connection with the construction of buildings and environmental risks. The Helvetia (CH) Swiss Property Fund does not qualify as a collective asset with sustainability relevance within the meaning of the AMAS self-regulation of 29 April 2024. Statements and key figures on sustainability aspects do not mean that the collective asset is sustainable within the meaning of the AMAS self-regulation or is considered to be managed sustainably. All information in this announcement has been prepared with the greatest of care and in good faith. The fund management company does not accept liability for any losses arising from the use of this information. The sole binding basis for the purchase of or subscription to fund units is the prospectus with the integrated fund agreement, the Key Information Document and the latest annual and semi-annual report. These documents can be obtained free of charge from the fund management company, Helvetia Asset Management Ltd, St. Alban-Anlage 26, 4002 Basel, Switzerland, or the custodian bank, Zürcher Kantonalbank, Bahnhofstrasse 9, 8001 Zurich, Switzerland. This announcement is published in several languages. Should there be any inconsistencies between the German version and a version in another language, the German version shall prevail.