Swiss Real Estate Funds At a glance CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. Global Real Estate – Switzerland September 2018 Switzerland: This product may only be distributed in or from Switzerland, to qualified investors as defined pursuant to the Collective Investment Schemes Act (“CISA”).
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Swiss Real Estate Funds At a glance
CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. Global Real Estate – Switzerland September 2018
Switzerland: This product may only be distributed in or from Switzerland, to qualified investors as defined pursuant to the Collective Investment Schemes Act (“CISA”).
2 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Agios and Disagio of the Swiss Real Estate Funds Average of listed funds1: 18.9%
1 If the other funds CS 1a Immo PK, CS REF International and CS REF Global are included, the weighted agio is 16.8%.
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds
Last data point: 30.09.2018
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
STR
EE
TB
OX
LA
FO
NC
IER
E
IMM
OF
ON
DS
FIR
SO
LV
AL
OR
61
CS
RE
F S
IAT
SW
ISS
INV
ES
T R
EA
L
UB
S F
ON
CIP
AR
S
CS
RE
F L
IVIN
GP
LU
S
UB
S S
WIS
S A
NFO
S
UB
S S
WIS
S S
IMA
IMM
O H
EL
VE
TIC
SW
ISS
CA
NT
O IF
CA
SC
HR
OD
ER
IMM
OP
LU
S
PR
OC
IMM
O
BO
NH
OTE
IMM
OB
ILIE
R
RO
TH
SC
HIL
D R
E S
WIS
S
CS
RE
F G
RE
EN
PR
OP
ER
TY
PA
TRIM
ON
IUM
SF
RE
TA
IL P
RO
PE
RT
IES
SF
SU
ST
AIN
AB
LE
PR
OP
ER
TY
UB
S S
WIS
SR
EA
L
CS
1A
IMM
O P
K
UB
S D
IRE
CT
RE
SID
EN
TIA
L
CS
RE
F L
OG
ISTI
CS
PL
US
RE
AL
STO
NE
PO
LY
ME
N F
ON
DS
RE
SID
EN
TIA
SW
ISS
CA
NT
O C
OM
ME
RC
IAL
VA
LR
ES
SW
ISS
RE
SID
EN
TIA
L
CS
RE
F IN
TE
RN
ATI
ON
AL
CS
RE
F IN
TE
RS
WIS
S
SF
CO
MM
ER
CIA
L P
RO
P.
RE
AL
STO
NE
DE
VE
LO
PM
EN
T
UB
S D
IRE
CT
UR
BA
N
CS
RE
F H
OS
PIT
AL
ITY
CS
RE
F G
LO
BA
L
Agio / Disagio
3 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Agios and Disagio of the Swiss Real Estate funds Month-on-month and year-to-date change
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds Last data point: 30.09.2018
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
STR
EE
TB
OX
LA
FO
NC
IER
E
IMM
OF
ON
DS
FIR
SO
LV
AL
OR
61
CS
RE
F S
IAT
SW
ISS
INV
ES
T R
EA
L
UB
S F
ON
CIP
AR
S
CS
RE
F L
IVIN
GP
LU
S
UB
S S
WIS
S A
NFO
S
UB
S S
WIS
S S
IMA
IMM
O H
EL
VE
TIC
SW
ISS
CA
NT
O IF
CA
SC
HR
OD
ER
IMM
OP
LU
S
PR
OC
IMM
O
BO
NH
OTE
IMM
OB
ILIE
R
RO
TH
SC
HIL
D R
E S
WIS
S
CS
RE
F G
RE
EN
PR
OP
ER
TY
PA
TRIM
ON
IUM
SF
RE
TA
IL P
RO
PE
RT
IES
SF
SU
ST
AIN
AB
LE
PR
OP
ER
TY
UB
S S
WIS
SR
EA
L
CS
1A
IMM
O P
K
UB
S D
IRE
CT
RE
SID
EN
TIA
L
CS
RE
F L
OG
ISTI
CS
PL
US
RE
AL
STO
NE
PO
LY
ME
N F
ON
DS
RE
SID
EN
TIA
SW
ISS
CA
NT
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OM
ME
RC
IAL
VA
LR
ES
SW
ISS
RE
SID
EN
TIA
L
CS
RE
F IN
TE
RN
ATI
ON
AL
CS
RE
F IN
TE
RS
WIS
S
SF
CO
MM
ER
CIA
L P
RO
P.
RE
AL
STO
NE
DE
VE
LO
PM
EN
T
UB
S D
IRE
CT
UR
BA
N
CS
RE
F H
OS
PIT
AL
ITY
CS
RE
F G
LO
BA
L
28.09.18 (Agio: 18.9%)
31.08.18 (Agio: 20.7%)
29.12.17 (Agio: 28.3%)
4 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Agios and Disagio of the Swiss Real Estate funds Close link between Agios and longterm interest rates
The graphic shows the link between longterm interest rates (horizontal axis) and the average Agio/Disagio since 1990 at the end of each quarter. Basically the following rule applies: The higher the interest rates, the lower the Agio/Disagio. Beside the link to interest rates there are other factors influencing the Agio/Disagio like demand sentiment, new products, tax
advantages of products, etc.).
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds
Last data point: 30.09.2018
30.09.2018
31.12.2017
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
-1% 0% 1% 2% 3% 4% 5% 6% 7% 8%
Weighted agio / disagio in % (listed and unlisted funds)
10 year CHF swap rate in %
31.03.2007
31.12.2008
31.03.1993
31.03.1994
30.06.1994
30.09.1990
5 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Agios and Disagio of the Swiss Real Estate funds Development since 1990
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds
Last data point: 30.09.2018
-2%
0%
2%
4%
6%
8%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
Agio / disagio 10 year CHF swap rate
Agio/disagio in % Interest rate
longterm average agio
6 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Agio development since October 2008 Development of Commercial and Residential Real Estate Funds
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds
Last data point: 30.09.2018
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
SXI Real Estate Funds Commercial Real Estate Funds Residential Real Estate Funds
7 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Average monthly turnover of Swiss Real Estate funds Between October 2017 and September 2018 in mn CHF
CS 1a Immo PK, CS REF International, CS REF LogisticsPlus: OTC-trading.
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, Datastream
Last data point: 30.09.2018
0 10 20 30 40 50 60 70 80 90
SF COMMERCIAL PROPERTIES
STREETBOX RE
POLYMEN FONDS
VALRES
CS REF LOGISTICSPLUS
RESIDENTIA
UBS DIRECT URBAN
SF RETAIL PROPERTIES
SWISSCANTO COMMERCIAL
CS REF GLOBAL
REALSTONE DEVEL.
UBS DIRECT RESIDENTIAL
SF SUSTAINABLE PROPERTY
PATRIMONIUM CH RE
CS REF HOSPITALITY
PROCIMMO
SWISSINVEST REAL
IMMO HELVETIC
BONHOTE IMMOBILIER
LA FONCIERE
FIR
REALSTONE
UBS FONCIPARS
IMMOFONDS
SOLVL 61 PRT
ROTHSCHILD RE SWISS
SCHRODER IMMOPLUS
CS REF INTERSWISS
UBS SWISS ANFOS
CS 1A IMMO PK
SWISSCANTO IFCA
UBS SW SWISSREAL
CS REF INTERNATIONAL
CS REF GREEN PROPERTY
CS REF SIAT
CS REF LIVING PLUS
UBS SWISS SIMA
8 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Distribution yield of Swiss Real Estate funds Distribution per share compared to the share price
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, Datastream, last annual report of the funds Last data point: 30.09.2018
0%
1%
2%
3%
4%
5%
CS R
EF IN
TE
RS
WIS
S
SF C
OM
ME
RC
IAL P
RO
P.
UB
S S
WIS
SR
EA
L
CS R
EF G
LO
BA
L
CS 1
A IM
MO
PK
STR
EE
TB
OX
CS R
EF IN
TE
RN
ATIO
NA
L
SF R
ETA
IL P
RO
PE
RTI
ES
CS R
EF H
OS
PIT
ALIT
Y
PR
OC
IMM
O
CS R
EF L
OG
ISTIC
SP
LU
S
SW
ISS
CA
NTO
CO
MM
ER
CIA
L
IMM
OF
ON
DS
IMM
O H
ELV
ETIC
UB
S S
WIS
S S
IMA
RE
ALS
TO
NE
SF S
US
TA
INA
BLE
PR
OP
ER
TY
CS R
EF S
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CS R
EF G
RE
EN
PR
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TY
SC
HR
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IMM
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S
UB
S D
IREC
T R
ES
IDEN
TIA
L
SW
ISS
INV
ES
T R
EA
L
UB
S S
WIS
S A
NFO
S
UB
S F
ON
CIP
AR
S
SW
ISS
CA
NTO
IFC
A
RO
TH
SC
HIL
D R
E S
WIS
S
CS R
EF L
IVIN
GP
LU
S
RE
SID
EN
TIA
BO
NH
OTE
IMM
OB
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R
UB
S D
IREC
T U
RB
AN
PO
LY
ME
N F
ON
DS
FIR
PA
TR
IMO
NIU
M
SO
LV
ALO
R 6
1
LA
FO
NC
IER
E
VA
LR
ES
SW
ISS
RE
SID
EN
TIA
L
RE
ALS
TO
NE
DE
VE
LO
PM
EN
T
Direct property ownershipIndirect property ownershipAverage SXI Real Estate Funds
9 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Distribution yield of Swiss Real Estate funds Compared to 10 year Swiss government benchmark bond
Sources: Credit Suisse AG, Datastream, last annual report of the funds
Last data point: 30.09.2018
-1%
0%
1%
2%
3%
4%
5%
6%
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
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20
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09
20
10
20
11
20
12
20
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20
14
20
15
20
16
20
17
20
18
Yield Gap Distribution Yield Swiss Real Estate Funds Yield on 10 Year Swiss Government Benchmark Bond
10 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Comparison of total expense ratios (TERREF GAV) Fund operating expenses of Swiss Real Estate funds
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Source: Credit Suisse AG, last annual report of the funds Last data point: 30.09.2018
0.00%
0.25%
0.50%
0.75%
1.00%
1.25%
CS R
EF H
OS
PIT
ALIT
Y
IMM
O H
ELV
ETIC
CS 1
A IM
MO
PK
SW
ISS
INV
ES
T R
EA
L
IMM
OF
ON
DS
SF S
US
TA
INA
BLE
PR
OP
ER
TY
CS R
EF L
OG
ISTIC
SP
LU
S
CS R
EF L
IVIN
GP
LU
S
CS R
EF G
RE
EN
PR
OP
ER
TY
CS R
EF IN
TE
RS
WIS
S
SO
LV
ALO
R 6
1
RO
TH
SC
HIL
D R
E S
WIS
S
CS R
EF S
IAT
FIR
LA
FO
NC
IER
E
SC
HR
OD
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LU
S
SW
ISS
CA
NTO
IFC
A
UB
S S
WIS
S A
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UB
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T U
RB
AN
UB
S D
IREC
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ES
IDEN
TIA
L
UB
S F
ON
CIP
AR
S
UB
S S
W S
WIS
SR
EA
L
UB
S S
WIS
S S
IMA
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LR
ES
SW
ISS
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SID
EN
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PA
TR
IMO
NIU
M
RE
ALS
TO
NE
SW
ISS
CA
NTO
CO
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ER
CIA
L
BO
NH
OTE
IMM
OB
ILIE
R
CS R
EF IN
TE
RN
ATIO
NA
L
PR
OC
IMM
O
RE
SID
EN
TIA
SF C
OM
ME
RC
IAL P
RO
PE
R.
STR
EE
TB
OX
SF R
ETA
IL P
RO
PE
RTI
ES
RE
ALS
TO
NE
DE
VE
L.
PO
LY
ME
N F
ON
DS
CS R
EF G
LO
BA
L
TERREF GAV
11 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Comparison of total expense ratios (TERREF MV) Fund operating expenses of Swiss Real Estate funds
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Source: Credit Suisse AG, last annual report of the funds Last data point: 30.09.2018
0.00%
0.25%
0.50%
0.75%
1.00%
1.25%
1.50%
1.75%
CS 1
A IM
MO
PK
IMM
O H
ELV
ETIC
SO
LV
ALO
R 6
1
CS R
EF H
OS
PIT
ALIT
Y
CS R
EF L
IVIN
GP
LU
S
SW
ISS
INV
ES
T R
EA
L
IMM
OF
ON
DS
CS R
EF S
IAT
CS R
EF L
OG
ISTIC
SP
LU
S
CS R
EF G
RE
EN
PR
OP
ER
TY
FIR
SF S
US
TA
INA
BLE
PR
OP
ER
TY
UB
S D
IREC
T R
ES
IDEN
TIA
L
UB
S D
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T U
RB
AN
LA
FO
NC
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SW
ISS
CA
NTO
IFC
A
UB
S F
ON
CIP
AR
S
UB
S S
WIS
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NFO
S
RO
TH
SC
HIL
D R
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WIS
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BO
NH
OTE
IMM
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R
SC
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S
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CS R
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STR
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S
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LR
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SW
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L
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SID
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PO
LY
ME
N F
ON
DS
RE
ALS
TO
NE
DE
VE
L.
CS R
EF G
LO
BA
L
TERREF MV
12 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Third-party borrowings In % of aggregate market value
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, last annual report of the funds Last data point: 30.09.2018
0%
5%
10%
15%
20%
25%
30%
35%
SF C
OM
ME
RC
IAL P
RO
PE
R.
CS R
EF L
OG
ISTIC
SP
LU
S
SO
LV
ALO
R 6
1
CS 1
A IM
MO
PK
UB
S D
IREC
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RB
AN
SF R
ETA
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CS R
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CS R
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EN
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SW
ISS
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CIA
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CS R
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TE
RN
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NA
L
FIR
SW
ISS
INV
ES
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UB
S F
ON
CIP
AR
S
SW
ISS
CA
NTO
IFC
A
CS R
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GP
LU
S
LA
FO
NC
IER
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S S
WIS
S A
NFO
S
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S D
IREC
T R
ES
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TIA
L
VA
LR
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SW
ISS
RE
SID
EN
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S S
WIS
S S
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UB
S S
W S
WIS
SR
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SF S
US
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PR
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CS R
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IMM
OF
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NH
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CS R
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TE
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SC
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PA
TR
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CS R
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PIT
ALIT
Y
STR
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TB
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13 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Swiss Real Estate funds at a glance
1 CS 1a Immo PK is restricted to tax-exempt domestic occupational benefit institutions and tax-exempt domestic social insurance institutions and compensation funds. 2 CS REF International and CS REF LogisticsPlus are restricted to qualified investors as defined in art. 10, para. 3 CISA in accordance with art. 6, para. 1 CISO. 3 CS REF International, CS 1a Immo PK, CS REF LogisticsPlus and CS REF Global are no constituents of the SXI Real Estate Funds. 4 Monthly turnover – average of the last 12 months. 5 Taxation of Swiss real estate funds differs depending on whether a fund holds it properties in direct ownership or indirectly via real estate companies (affiliates of the fund). Historical performance indications and financial market scenarios are no reliable indicators of future performance. The performance data do not take into account the commissions and costs incurred on the issue and redemption of fund units. The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Sources: Credit Suisse AG, Datastream, last annual or semi-annual report of the funds Last data point: 30.09.2018
Name Price Vola. NAV Agio Distribution TERREF Turnover Total market Investment Property
high low YTD -5 y 3 years per unit yield (%) (MV) in mn CHF 4 capitalization focus ownership 5
30.09.2018 p.a. ann. (prov.) in mn CHF
UBS SWISS SIMA 106.90 113.30 103.90 -1.8% 6.8% 6.5% 88.6 20.6% 3.0% 0.93% 83.6 7'432.4 Mixed Indirect
CS 1A IMMO PK 1,3 1335.00 1480.00 1335.00 -7.8% 3.3% 5.9% 1227.5 8.8% 3.7% 0.49% 21.4 3'775.2 Mixed Direct
CS REF INTERNATIONAL 2,3 1130.00 1275.00 1095.00 -6.2% 7.3% 7.8% 1095.2 3.2% 3.4% 0.97% 27.3 3'251.6 International Indirect
CS REF SIAT 186.90 203.20 182.00 -7.7% 6.5% 8.2% 146.0 28.0% 2.9% 0.64% 34.6 2'885.5 Residential Indirect
CS REF LIVINGPLUS 130.00 143.40 125.50 -5.8% 4.5% 9.4% 105.8 22.9% 2.5% 0.62% 40.0 2'711.0 Residential Direct
UBS SWISS ANFOS 67.40 69.05 61.05 1.7% 5.2% 8.5% 55.0 22.6% 2.7% 0.85% 19.8 2'393.6 Residential Indirect
CS REF GREEN PROPERTY 127.50 137.10 123.80 -3.6% 4.5% 8.2% 111.8 14.0% 2.8% 0.70% 31.5 2'310.5 Sustainability Direct
CS REF INTERSWISS 189.80 207.50 189.40 -7.3% 3.5% 7.0% 185.7 2.2% 4.0% 0.95% 20.2 1'574.1 Commercial Indirect
UBS SW SWISSREAL 67.30 72.70 65.75 -2.6% 5.0% 8.8% 61.5 9.4% 3.9% 1.01% 25.0 1'539.8 Commercial Indirect
IMMOFONDS 428.00 453.00 409.00 -3.4% 5.6% 8.0% 317.7 34.7% 3.2% 0.64% 14.9 1'377.7 Residential Indirect
SCHRODER IMMOPLUS 155.00 174.38 149.40 0.6% 9.0% 11.1% 131.9 17.5% 2.8% 0.90% 17.1 1'339.1 Commercial Indirect
SWISSCANTO IFCA 126.20 144.50 124.90 -6.7% 5.0% 8.0% 106.3 18.7% 2.4% 0.84% 22.5 1'330.7 Residential Mixte
LA FONCIERE 106.40 111.20 103.40 -1.7% 7.8% 6.4% 76.1 39.8% 2.0% 0.77% 12.2 1'316.3 Residential Mixte
FIR 180.00 190.50 170.00 -1.9% 7.1% 7.8% 135.7 32.6% 2.2% 0.70% 11.9 1'299.9 Residential Mixte
UBS FONCIPARS 94.30 102.40 93.80 -3.3% 8.1% 7.4% 76.7 22.9% 2.5% 0.85% 14.2 1'209.5 Residential Indirect
SOLVALOR 61 255.00 272.75 252.00 -5.9% 5.0% 7.3% 195.9 30.2% 2.0% 0.53% 14.2 1'147.9 Residential Direct
ROTHSCHILD RE SWISS 131.00 142.50 127.70 -5.5% 8.5% 8.6% 113.3 15.6% 2.6% 0.87% 14.3 1'000.5 Residential Direct
IMMO HELVETIC 206.50 236.00 204.50 -6.9% 5.7% 8.6% 172.4 19.8% 3.1% 0.52% 10.5 908.6 Residential Indirect
SF SUSTAINABLE PROPERTY 130.80 144.00 127.40 -0.8% 0.0% 9.1% 117.8 11.0% 2.6% 0.71% 7.4 862.9 Residential Direct
REALSTONE 130.00 149.00 127.00 -9.9% 10.8% 120.8 7.7% 2.9% 1.03% 12.3 854.1 Residential Direct
BONHOTE IMMOBILIER 134.70 150.40 130.70 -7.9% 4.6% 8.5% 116.4 15.7% 2.3% 0.89% 11.4 828.8 Residential Direct
SWISSINVEST REAL 165.20 182.90 158.50 -5.1% 7.0% 7.0% 131.4 25.8% 2.7% 0.64% 9.9 800.5 Residential Indirect
PROCIMMO 155.00 175.60 153.20 -11.7% 6.4% 9.8% 133.6 16.0% 3.4% 1.06% 8.8 748.4 Commercial Direct
CS REF HOSPITALITY 85.50 97.10 83.30 -5.9% -0.6% 7.2% 95.9 -10.8% 3.6% 0.57% 8.3 748.3 Hospitality Direct
PATRIMONIUM 149.00 159.40 144.50 -2.8% 6.3% 6.9% 131.4 13.4% 2.2% 1.05% 8.2 725.9 Residential Direct
REALSTONE DEVELOPMENT 139.00 140.00 135.00 -6.0% 130.8 -1.7% 0.8% 1.41% 5.3 651.0 Residential Direct
SF RETAIL PROPERTIES 115.00 124.50 108.00 -0.2% 101.5 13.3% 3.7% 1.08% 4.0 640.4 Commercial Indirect
UBS DIRECT RESIDENTIAL 14.75 18.20 14.40 -14.2% 2.7% 9.8% 13.6 8.7% 2.7% 0.75% 6.0 489.5 Residential Direct
CS REF LOGISTICSPLUS 2 112.75 122.50 108.00 -3.4% 104.4 8.3% 3.5% 0.65% 3.8 473.6 Logistics Direct
SWISSCANTO COMMERCIAL 109.40 125.30 104.50 -0.8% 102.4 6.9% 3.2% 0.94% 5.2 470.4 Mixed Direct
POLYMEN FONDS 136.00 152.00 135.30 -4.3% 126.7 7.3% 2.2% 1.29% 2.4 355.0 Residential Direct
VALRES SWISS RESIDENTIAL 118.00 135.00 118.00 -8.0% 112.6 4.8% 1.5% 1.14% 2.7 316.7 Residential Direct
UBS DIRECT URBAN 10.85 13.25 10.75 -16.5% 0.0% 11.4 -4.7% 2.3% 0.75% 3.6 312.4 Mixed Direct
CS REF GLOBAL 87.50 90.75 86.40 3.6% 100.2 -12.6% 3.9% 1.75% 5.3 261.2 International Indirect
SF COMMERCIAL PROPERTIES 109.00 110.00 101.60 -0.7% 0.0% 0.0% 102.0 0.9% 4.1% 1.08% 1.3 247.0 Commercial Indirect
RESIDENTIA 123.80 136.90 119.50 -7.3% 5.7% 8.0% 115.4 7.3% 2.2% 1.17% 3.4 198.1 Residential Direct
STREETBOX 388.00 400.00 350.25 0.8% 272.3 42.2% 3.7% 0.99% 1.7 158.4 self storage Direct
SXI REAL ESTATE FUNDS BROAD 3 -4.4% 5.7% 6.8% 18.9% 2.8% 0.81% 488.1 41'185.0
52 week Performance
14 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Premium/discount of Real Estate investment companies Average premium: 18.0%
Sources: Credit Suisse AG, Datastream, last annual and semi-annual reports of the companies
Last data point: 30.09.2018
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
INTE
RS
HO
P N
INVE
STIS
N
HIA
G IM
MO
BIL
IEN
AG
WA
RTEC
K N
SW
ISS
PR
IME
SIT
E N
ALLR
EA
L N
PS
P N
MO
BIM
O N
BFW
LIE
GEN
SC
HA
FTEN
N
ZU
G E
STA
TE A
G
SW
ISS
FIN
AN
CE &
PR
OP
ER
TY
PLA
ZZA
N
15 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Historical development of Premiums and Agios Swiss Real Estate investment companies vs. Real Estate funds
Sources: Credit Suisse AG, Datastream, last annual and semi-annual reports of the companies
Last data point: 30.09.2018
-30%
-20%
-10%
0%
10%
20%
30%
40%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Premium/Agio in %
Premium/Discount of Real Estate Investment Companies Agio/Disagio of Real Estate Funds
16 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Distribution yield of Real Estate investment companies Distribution per share compared to the share price
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Source: Credit Suisse AG, Datastream, last annual and semi-annual reports of the companies Last data point: 30.09.2018
0%
1%
2%
3%
4%
5%
SW
ISS
PR
IME
SIT
EN MO
BIM
O N
SW
ISS
FIN
AN
CE
&P
RO
PE
RT
Y
INTE
RS
HO
P N
INV
ES
TIS
N
AL
LR
EA
L N
PS
P N
WA
RT
EC
K N
BF
WL
IEG
EN
SC
HA
FT
EN
N
HIA
G IM
MO
BIL
IEN
AG
ZU
G E
STA
TE
AG
PL
AZ
ZA
N
17 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Swiss Real Estate investment companies at a glance
1 Monthly turnover – average of the last 12 months
The securities mentioned on this page are meant for illustration purposes only and are not intended as a solicitation or an offer to buy or sell these securities.
Source: Credit Suisse AG, Datastream, last annual and semi-annual reports of the companies
Last data point: 30.09.2018
Name Price Vola. NAV Premium Distribution Turnover Market capi-
high low YTD -5y 3 years per share yield (%) mn CHF 1 talization (FF)
30.09.2018 p.a. ann. (prov.) mn CHF
SWISS PRIME SITE N 83.65 94.30 82.25 -2.3% 8.7% 9.9% 66.20 26.4% 4.4% 257.9 6'352.9
PSP N 95.05 97.10 85.95 6.8% 7.8% 10.5% 88.03 8.0% 3.5% 151.3 3'827.4
ALLREAL N 157.50 171.00 152.50 -0.5% 8.9% 9.9% 135.27 16.4% 3.7% 68.2 2'242.8
MOBIMO N 232.00 268.00 232.00 -7.6% 8.7% 10.7% 222.03 4.5% 4.3% 34.6 1'531.6
INTERSHOP I 494.00 508.00 465.00 6.0% 13.8% 8.3% 310.35 59.2% 4.0% 28.1 648.9
ZUG ESTATE AG 1'700.00 1'839.00 1'670.00 -5.6% 8.8% 7.5% 1'749.46 -2.8% 1.4% 4.2 483.4
HIAG IMMOBILIEN AG 125.00 130.50 112.00 6.6% 11.4% 95.66 30.7% 2.9% 5.3 353.7
PLAZZA N 225.00 237.00 217.00 0.4% 8.8% 266.53 -15.6% 1.3% 3.3 282.2
WARTECK N 1'930.00 2'040.00 1'900.00 2.0% 7.5% 7.2% 1'489.38 29.6% 3.5% 2.6 260.8
SWISS FINANCE & PROPERTY 88.50 96.50 87.50 -3.3% 7.7% 95.18 -7.0% 4.1% 1.9 241.6
BFW LIEGENSCHAFTEN N 42.80 45.35 42.05 2.3% 9.8% 42.08 1.7% 3.2% 1.5 169.3
INVESTIS 60.60 67.80 55.50 0.5% 43.94 37.9% 3.9% 3.3 169.6
SXI REAL ESTATE SHARES BROAD 0.0% 8.5% 7.3% 18.0% 3.8% 588.8 16'564.3
52 week Performance
18 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Global Real Estate Your contact partner
1 Please note that telephone conversations may be recorded. By making a call, you acknowledge your agreement with this business practice.
Real Estate Strategies & Advisory
Ulrich Braun Managing Director
Phone +41 44 332 58 081
Real Estate Strategies & Advisory
Christian Braun, CIIA Vice President
Phone +41 44 333 44 001
Real Estate Strategies & Advisory
Fabian Linke, MRICS Director
Phone +41 44 334 25 741
Real Estate Strategies & Advisory
Carolina Bocchini Director
Phone +41 44 333 75 671
19 The disclaimer at the end of this document also applies to this page. CREDIT SUISSE ASSET MANAGEMENT (Switzerland) Ltd. September 2018
Disclaimer
The information provided herein constitutes marketing material. It is not investment advice or otherwise based on a consideration of the personal circumstances of the addressee nor is it the result of objective or independent research. The information provided herein is not legally binding and it does not constitute an offer or invitation to enter into any type of financial transaction. The information provided herein was produced by Credit Suisse Group AG and/or its affiliates (hereafter "CS") with the greatest of care and to the best of its knowledge and belief. The information and views expressed herein are those of CS at the time of writing and are subject to change at any time without notice. They are derived from sources believed to be reliable. CS provides no guarantee with regard to the content and completeness of the information and does not accept any liability for losses that might arise from making use of the information. If nothing is indicated to the contrary, all figures are unaudited. The information provided herein is for the exclusive use of the recipient. Neither this information nor any copy thereof may be sent, taken into or distributed in the United States or to any U. S. person (within the meaning of Regulation S under the US Securities Act of 1933, as amended). It may not be reproduced, neither in part nor in full, without the written permission of CS. Investments in foreign currencies involve the additional risk that the foreign currency might lose value against the investor's reference currency. Equities are subject to market forces and hence fluctuations in value, which are not entirely predictable. The key risks of real estate investments include limited liquidity in the real estate market, changing mortgage interest rates, subjective valuation of real estate, inherent risks with respect to the construction of buildings and environmental risks (e.g., land contamination). Copyright © 2018 Credit Suisse Group AG and/or its affiliates. All rights reserved.
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