Swiss Life Asset Managers is planning the initial issue of the new real estate fund “Swiss Life REF (CH) ESG Diversified Commercial Switzerland” as of 1 April 2026. The fund is open to all investors and offers an attractive opportunity to invest in a broadly diversified, high-quality portfolio of Swiss commercial real estate.
The real estate fund intends to use the proceeds from the first issue to acquire an existing property portfolio at attractive locations in cities such as Zurich, Geneva, Basel, Lucerne, St. Gallen and Lugano. These are office, retail and mixed-use buildings that are let on a long-term lease. The initial portfolio is expected to comprise 20 properties with an investment volume of around CHF 640 million and is currently owned by Swiss Life. The plan is to issue fund units totalling around CHF 500 million as part of the first issue. This will allow investors to invest in a broadly diversified portfolio of holdings straight from the launch. FINMA has authorised the transfer of the portfolio and has approved the real estate fund.
Investment objective and ESG approach
The fund aims to generate attractive and long-term returns. To this end, Swiss Life Asset Managers focuses on high-quality properties in good locations, stable rental agreements as well as active and professional property management.
The sustainability strategy is consistently included in the investment and management process. A key target of the fund is for the portfolio to be net zero by 2050 at the latest. To precisely manage the decarbonisation pathway, the fund is guided by the established CRREM model (Carbon Risk Real Estate Monitor), while the environmental indicators are reported transparently in accordance with the CO2 benchmarking framework for real estate portfolios. This is aligned with the minimum requirements of AMAS (REIDA methodology) and thereby enables a standardised, comparable CO2 calculation within the real estate industry.
Initial issue and listing
A subscription period is planned to run from 9 March to 20 March 2026. Thereafter, and subject to the approval by the relevant internal bodies, the fund units are expected to be issued and traded on SIX as of 1 April 2026. The units will be issued at the net asset value (NAV), plus an issuing commission. The issue will be carried out on a best-effort basis.
Further information
The detailed issue documents with the final conditions (prospectus with integrated fund contract, PRIIPs KID and the link to the issue documents) will be published at the end of February 2026.
Fund information
| Name | Swiss Life REF (CH) ESG Diversified Commercial Switzerland |
| ISIN / security no. of fund | CH1522278584 / 152227858 |
| Income | Distributing |
| Legal form | Contractual real estate fund |
| Fund domicile | Switzerland |
| Circle of investors | Non-qualified and qualified investors |
| Fund management company / administrator | Swiss Life Asset Management Ltd, Zurich |
| Portfolio management | Swiss Life Asset Management Ltd, Zurich |
| Custodian bank | UBS Switzerland AG, Zurich |
| Market maker | Bank J. Safra Sarasin AG, Zurich |
The issue at a glance
| Issue volume | Around CHF 500 million |
| Subscription period | Expected 9 March – 20 March 2026, 12:00 noon (CET) |
| Payment under subscription | Expected 1 April 2026 |
| Type of issue | Best-effort issue |
| Use | The issue proceeds will be used to acquire a real estate portfolio expected to be worth CHF 640 million from Swiss Life |
Information
Media Relations Swiss Life
Phone: +41 43 284 77 77
media.relations@swisslife.ch
Investor Relations
Phone: +41 43 284 52 76
investor.relations@swisslife.ch