Opening of the “Commercial Real Estate Switzerland ESG” investment group worth approximately CHF 150 million

Opening of the “Commercial Real Estate Switzerland ESG” investment group

Entitlements with an equivalent value of around CHF 150 million will be issued as part of this opening. Interested investors will thus have access to a premium real estate portfolio comprising commercial properties offering stable income and value in central locations in Switzerland.
The domestic economy and the current interest rate environment are creating a favourable investment climate with an attractive spread between financing costs and yields on fixed-income investments. At the same time, the resilient private sector is supporting both sales volumes and demand for office space in urban centres.
Against this backdrop, the newly raised capital lays the foundation for further targeted acquisitions in line with strategy and return objectives and will be used to reduce the share of debt capital. It will also enable planned investments in the portfolio to further improve the quality of the properties.
Since its launch, the “Commercial Real Estate Switzerland ESG” investment group has consistently outperformed the KGAST “Commercial” Real Estate Index (comprising twelve investment groups) – clear proof of the successful implementation of the strategy and the portfolio’s strength.

The subscription period will run from 26 August 2025 to 24 October 2025. The entitlements will be issued on 13 November 2025.

The investment group invests directly in commercial real estate with a focus on centrally located office buildings and retail properties in prime locations in Switzerland’s economically strong regions.
The portfolio also features mixed-use properties combining retail, office and residential spaces, which are typical of inner-city locations in high-traffic pedestrian zones with good accessibility. Residential space within mixed-use properties accounts for 13% of the total portfolio income (as at 30 June 2025).

Thanks to a broad geographic diversification, a balanced distribution of rental contract durations and tenants with good credit ratings, the portfolio has lower vacancies compared to competing KGAST products.
The investment group has developed well in terms of income and value. The selective expansion of the portfolio with its clear focus on high quality has paid off: since its launch in 2011, the “Commercial Real Estate Switzerland ESG” investment group has posted an attractive performance of 4.67% per year (as at 30 June 2025). At the end of June 2025, the investment group held 105 properties with a market value of around CHF 2.6 billion.

Stephan Thaler, Managing Director of the Swiss Life Investment Foundation, says: “We are pleased with the successful performance of this investment group, which has existed for fourteen years and from which more than 250 investors now benefit. This is compelling evidence of the investment group’s attractiveness and a strong vote of confidence in the expertise of Swiss Life Asset Managers.”

Responsible investment

Since 2018, Swiss Life Asset Managers has been a signatory to the UN Principles for Responsible Investment (UN PRI). Environmental, social and governance (ESG) factors are systematically integrated into the investment and risk management processes at Swiss Life Asset Managers. In the real estate investment business, appropriate criteria are taken into account in both acquisition and management. The investment group has also participated in the annual GRESB (Global Real Estate Sustainability Benchmark) since 2018. Thanks to its continuous optimisation process, the “Commercial Real Estate Switzerland ESG” investment group scored 87 points out of 100 in the overall assessment in 2024 and was awarded four stars.