Ad Hoc announcement pursuant to article 53 LR
- Swiss Prime Site Solutions receives FINMA licence as a fund management company pursuant to FinIA
- Real estate asset management driving the group's growth
Swiss Prime Site Solutions receives FINMA licence as a fund management company pursuant to FinIA
Swiss Prime Site Solutions AG, a group company of Swiss Prime Site, has received legally binding authorisation from the Swiss Financial Market Supervisory Authority (FINMA) to manage collective investment schemes under Swiss law and offer self-managed funds. This will enable the well-established real estate asset manager to significantly expand its range of services and is expected to accelerate the strong growth rate achieved in recent years. «Obtaining the FINMA fund management licence was one of our strategic goals for the current financial year. This opens the door to offering real estate investment opportunities that meet investors' needs», says René Zahnd, CEO Swiss Prime Site. Anastasius Tschopp, CEO Swiss Prime Site Solutions, adds: «We are pleased to have overcome this necessary regulatory hurdle. The entire team has been hard working on a first product to make sure we can enter the market for real estate investment funds by the end of the year. This product will shortly be presented to qualified investors.» Swiss Prime Site Solutions was able to recruit three proven and experienced specialists for the new services: Maximilian Hoffmann, Fabian Linke and Samuel Bergstein.
Real estate asset management driving the group's growth
With its authorisation as a fund management company, Swiss Prime Site Solutions will now be able to expand its services in line with its strategy, while also basing its business model on three pillars. Since 2017, the company has been successfully entrusted with the executive management and asset management advisory of the Swiss Prime Investment Foundation. Assets under management have since more than doubled to over CHF 2.8 billion. Asset management advisory for third parties was also successfully established at the end of 2020. In this area of business, Swiss Prime Site Solutions has assets under advice of around CHF 0.5 billion from different pension funds and has further significant mandates for building up real estate portfolios in the pipeline. «The FINMA fund management licence will now enable us to expand the business model of Swiss Prime Site Solutions to include the third pillar of real estate funds. This steadily brings us closer to our goals of doubling the asset management volume to CHF 7 billion by 2025, significantly increasing the profitability of Swiss Prime Site Solutions to CHF 30 million p.a. and growing together as a group into a genuine real estate investment platform», concludes René Zahnd.