Switzerland's AHV to invest in US, European property funds

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AHV is looking to invest in European and US real estate on the back of below-average returns last year.

Switzerland’s CHF30bn (€24.4bn) first-pillar pension fund is looking to the core and core-plus segments of both continents.

An exclusively European €15m-20m pooled fund is being targeted with a maximum 50% leverage ratio.

AHV is looking for stabilised, income-producing real estate assets.

A pooled $20m-40m (€14m-28m) US fund should have the same credentials, it said.

AHV, which also manages invalidity compensation scheme IV (CHF4.7bn) and military service/maternity leave scheme EO (CHF600m), returned 2.8% last year, below the Swiss national average of 6%.

As per year-end 2013, the fund had 5% invested in real estate, with 52% in mainly domestic bonds, 13% in loans and 26% in equities.

The remainder was commodities (2%).

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    Asset class: Direct Real Estate.
    Asset region: Europe excluding Switzerland.
    Size: 150m.
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