On 26 July 2019, Swiss Life Asset Managers signed a cooperation agreement with Deka for the launch of the open-ended property fund Swiss Life REF (DE) European Living (“European Living”). Sales authorisation for the mutual property fund, which will be launched and managed by Swiss Life Asset Managers, was granted on 29 August 2019. Units will be sold exclusively via Deka and thus via German savings banks (Sparkassen).
European Living will be launched by Swiss Life Kapitalverwaltungsgesellschaft mbH, part of Swiss Life Asset Managers, as an open-ended mutual property fund under German law. In addition, Swiss Life KVG will be responsible for fund management, purchases and sales, and asset management, among other tasks. The fund is expected to be launched in early October.
The starting point for this new fund focusing on residential property is high demand for housing in European metropolitan regions and other major urban areas. European Living’s investment strategy focuses on conventional residential properties, but differentiates between different user groups such as students, young professionals and commuters. It aims to build up a European real estate portfolio in the mid-price segment consisting of properties with good transport connections.
As such, European Living is one of the first pan-European residential property funds for private investors.
The goal of European Living is to generate stable income on a long-term basis and manage opportunities and risks responsibly. “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 as Europe’s leading property investor with the equally strong product expertise of Deka with its focus on commercial properties,” says Tina Störmer, CEO of Swiss Life Asset Managers in Germany.
Swiss Life KVG sees good access to suitable properties as a key success factor in times of high demand for real estate. In this respect, the fund will benefit from the company’s broad positioning in the real estate sector – with its own country units on site in Switzerland as well as in France, Germany and the UK.
For the German fund management company Swiss Life KVG, this is already the second open-ended mutual property fund under German law that it has launched in the space of just three years. At the end of 2016, it launched its first mutual property fund, “Swiss Life REF (DE) European Real Estate Living and Working”.
“We now have extensive experience with different types of property fund, not just special funds but also funds for private investors. After just two years, the Living and Working fund has reached a volume of more than €400 million and has fully met expectations so far,” says Christine Bernhofer, CEO of Swiss Life KVG and COO of Swiss Life Asset Managers Germany.
Swiss Life Asset Managers
Swiss Life Asset Managers has more than 160 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. That’s how we lay the groundwork for our clients to make solid, long-term plans – in self-determination and with financial confidence. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg and the UK.
As at 30 june 2019 assets under management for third-party clients amount to EUR 71.6 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at EUR 225.0 billion.
Swiss Life Asset Managers is the leading real estate manager in Europe1. Of the assets totaling EUR 225.0 billion, EUR 60.5 billion is invested in real estate. In addition, Swiss Life Asset Managers has real estate under administration of EUR 26.0 billion through its subsidiaries Livit and Corpus Sireo. Total real estate under management and administration at the end of june 2019 thus came to EUR 86.5 billion.
Swiss Life Asset Managers employs about 2300 people in Europe.
1 PropertyEU, Top 100 Investors, December 2018
Swiss Life Kapitalverwaltungsgesellschaft
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