Swiss Life Asset Managers has launched the open-ended mutual property fund “Swiss Life REF (DE) European Living” under German law via Swiss Life Kapitalverwaltungsgesellschaft mbH (Swiss Life KVG). The investment fund is entering the market with the short name “Swiss Life European Living” and is aimed at German private investors.
The first purchase for the “Swiss Life European Living” fund has already been made through the acquisition of a German residential portfolio with a total of 533 residential units. The housing stock in Duisburg, Dusseldorf, Frankfurt, Cologne and Wuppertal constitutes the starting portfolio for “Swiss Life European Living”. The properties are fully let except for the usual level of vacancy due to fluctuation.
Tina Stormer, CEO of Swiss Life Asset Managers in Germany, said: “European Living is our first pan-European residential property fund for private customers. Its aim is to generate a stable income on a long-term basis and manage opportunities and risks responsibly. This new product therefore also follows our company’s guiding theme of independent living.”
Christine Bernhofer, COO of Swiss Life Asset Managers in Germany and CEO of Swiss Life KVG, said: “The cooperation with Deka for marketing European Living represents a win for both sides: We are combining the real estate and fund expertise of Swiss Life Asset Managers with Deka’s strong product expertise and close-knit sales network. Investors in the fund also benefit from excellent access to properties via Swiss Life Asset Managers’ local real estate units in the key European property markets.”
