Credit Suisse Global Property Fund to be Liquidated

A Credit Suisse Group global property fund will be liquidated due to low trading volume and a discount of more than 20% to underlying assets, triggered by market corrections resulting from the COVID-19 pandemic.

The properties held by the real estate fund are to be transferred to the Credit Suisse Real Estate Fund International in the first half of 2021, and the liquidation proceeds will be paid out to investors. The Credit Suisse Real Estate Fund International will acquire the properties, whose transfer value will be set by valuation experts and confirmed independently, the bank said.

Trading in the fund units on the SIX Swiss Exchange has already been suspended.

"The fund management company has decided to liquidate the Credit Suisse Real Estate Fund Global, partly because of the trading discount that has arisen on the stock market. The fund's performance is no longer consistent with the fundamentally high location and asset quality of the underlying real estate portfolio“, the company commented. 

*The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).