Global Real Estate – Switzerland
UBS CH Property Fund – Swiss Mixed «Sima»
Swiss edition Real estate
investment management
Global Real Estate – Switzerland
7 indirect real estate investment products
– 5 listed funds; UBS «Sima», the largest Swiss real estate fund – 2 investment trusts
Market and customer-oriented solutions for real estate
and real estate projects
– Developments, purchase / sale, investments in kind, «James», PPP, etc.
Investment volume: approx. CHF 12 billion
– over CHF 56 billion around the world (no. 2 worldwide1)
around 900 properties in Switzerland
– around 1,700 worldwide
Construction volume of around CHF 350 million per year
– Current new construction portfolio: around CHF 700 million
Customer-focused – transparent – far-sighted
Data as per 31.12.2011
2007 2008 2009 2010 2011 1
Listed funds
UBS (CH) Property Fund – Léman Residential «Foncipars» UBS (CH) Property Fund – Swiss Residential «Anfos»
UBS (CH) Property Fund – Swiss Mixed «Sima»
Investment trusts
UBS Foundation (AST-IS) «Immobilien Schweiz» UBS Foundation (AST-KIS)
«Kommerzielle Immobilien Schweiz»
8'756 9'548 10'308 10'937 11'606 11.5 9.0 8.0 6.1 6.1 Investment focus AuM (CHF m) Residential buildings in French-speaking Switzerland 773 807 818 839 840 Residential buildings in German-speaking Switzerland 1'443 1'547 1'622 1'685 1'813 1'036 1'112 1'142
UBS (CH) Property Fund – Swiss Commercial «Swissreal»
Commercial buildings throughout Switzerland 1'199 A mix of properties throughout Switzerland 4'694 5'133 5'483 5'743 6'005 840 885 1'015 1'129 A mix of properties throughout Switzerland 1'272 Commercial buildings throughout Switzerland – – 21 92 154 885
UBS (CH) Property Fund – Direct Residential
Residential buildings in
German-speaking Switzerland 121 140 237 307 323
Total of the portfolio
Annual percentage change (%)
Global Real Estate – Switzerland
1 Sima, Foncipars, Swissreal and Direct Residential as per 30.06.2011, Anfos as per 30.09.2011 and Investment trusts as per 31.12.2011
Notes: Market capitalisation, weightings and prices based on SIX data. NAV according to the latest company statement, adjusted for the dividends. Mixed means portfolio consists of more than one sector. Region and sector classification as well as Premium and Dividend Yield calculation done by UBS Global Asset Management based on financial year statements. Performance is Total Return based on Datastream and Bloomberg data.
* Realstone is in the index as of 01.02.2010, UBS Direct Residential is in the index as of 29.10.2010, Patrimonium Swiss RE is in the index as of 01.11.2010, Rothschild Swiss Real Estate SICAV is in the index as of 23.03.2011.
**TR from quotation to 31.12.2010: Realstone +12.55%; Patrimonium Swiss RE -3.49%; UBS Direct Residential -7.74%
Past performance is no guarantee for future results.
SXI Real Estate Funds Index as of December 30, 2011
Name Market cap. Weight Sector Region Price NAV Premium Div. Yield Perf. Perf. Perf. Perf.
in CHF mn. to NAV YTD 2011 2010 3YR
UBS SWISS SIMA 5'425 21.14 Mixed Mixed 96.15 75.25 27.8% 3.38% 8.00 8.00 9.03 40.65 CS REF SIAT 2'092 8.15 Mixed Zurich Region 165.10 125.99 31.0% 3.27% 11.39 11.39 -3.10 31.49 CS REF LIVING PLUS 2'074 8.08 Residential Mixed 118.50 100.42 18.0% 2.19% 2.16 2.16 0.47 18.62 UBS SWISS ANFOS 1'878 7.32 Residential German-Speaking Ch 61.10 48.15 26.9% 3.27% 6.63 6.63 7.62 38.12 CS REF INTERSWISS 1'500 5.84 Commercial Zurich Region 220.90 178.24 23.9% 3.80% 10.66 10.66 -0.84 35.64 CS REF PROPERTY PLUS 1'176 4.58 Commercial Zurich Region 138.00 112.56 22.6% 2.97% 5.35 5.35 7.70 33.30 IMMOFONDS 1'130 4.40 Residential German-Speaking Ch 386.00 293.17 31.7% 3.50% 8.03 8.03 5.33 33.22 SWISSCANTO IFCA 1'086 4.23 Residential German-Speaking Ch 114.40 89.54 27.8% 2.97% 1.12 1.12 5.15 29.85 UBS SW SWISSREAL 1'083 4.22 Commercial Mixed 69.45 58.90 17.9% 3.74% 3.47 3.47 9.99 47.65 SCHRODER IMMOPLUS 1'053 4.10 Commercial German-Speaking Ch 1097.00 879.77 24.7% 1.37% 5.52 5.52 14.33 47.45 SOLVL 61 PRT 923 3.60 Residential Geneva / Vaud 260.00 171.93 51.2% 1.96% 4.15 4.15 3.33 25.59 LA FONCIERE 919 3.58 Residential Geneva / Vaud 815.00 629.56 29.5% 2.48% 13.03 13.03 5.74 46.82 FIR 878 3.42 Residential Vaud 136.40 109.53 24.5% 2.75% 9.92 9.92 4.79 40.46 UBS FONCIPARS 791 3.08 Residential Geneva / Vaud 77.05 63.00 22.3% 3.18% 7.88 7.88 5.61 35.13 BONHOTE IMMOBILIER 642 2.50 Residential Geneva / Vaud 118.50 106.26 11.5% 2.24% 4.28 4.28 6.90 18.67 SWISSINVEST REAL 578 2.25 Residential German-Speaking Ch 127.80 107.33 19.1% 3.48% 10.03 10.03 -0.06 30.17 Immo Helvetic 557 2.17 Residential Berne Region 199.00 157.43 26.4% 3.27% 6.37 6.37 9.61 41.80 PROCIMMO 449 1.75 Commercial Vaud 134.00 118.74 12.9% 2.99% 16.15 16.15 8.98 34.50 UBS DIRECT RES 373 1.45 Residential German-Speaking Ch 15.00 11.93 25.7% 2.33% 7.26 7.26
PATRIMONIUM CH RE 354 1.38 Residential Geneva / Vaud 116.10 108.09 7.4% 2.77% -4.22 -4.22 Rothschild Real Estate SICAV 347 1.35 Residential Mixed 115.60 100.00 15.6% n.a.
REALSTONE 310 1.21 Residential Mixed 126.50 110.71 14.3% 2.96% 7.39 7.39 RESIDENTIA 47 0.18 Residential Ticino 1165.00 1049.41 11.0% 0.91%
UBS (CH) Property Fund – Swiss Mixed «Sima»
The fund invests in residential and commercial properties throughout Switzerland, with
investments focused on large cities and their agglomerations.
These figures refer to the past. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Key data as per 31.12.2010 (financial year 2010)
Year of inception 1950 Net asset value CHF 4'317m
Number of properties 350 Market value CHF 5‘743m
Use Rental income CHF 326.4m
Residential 44% Rental loss rate 3.2%
Commercial 42% Leverage 18.4%
Mixed 11% Total return on NAV 5.9%
Under construction / building land 3% Performance 9.1%
Property locations
Canton of Zurich 49%
Canton of Basel-Stadt / Basel-Land 12%
Canton of Geneva 9%
UBS (CH) Property Fund – Swiss Mixed «Sima»
Acquisition and construction project
Kesselhaus, Winterthur
Investment amount approx. CHF 70m
Urban entertainment center located next to the central station,
6 cinemas and a 9‘300m2 retail and catering area Opening September 2010, 100% occupied
Acquisition and construction project
Shoppingcenter Cristal, Martigny (VS)
Investment amount approx. CHF 90m 13‘564 m2 retail area, garage
Key Tenant Coop
Completion planned for April 2011
Highlights
Acquisition and construction project
Kesselhaus, Winterthur
Investment amount approx. CHF 70m
Urban entertainment center located next to the central station,
6 cinemas and a 9‘300m2 retail and catering area Opening September 2010, 100% occupied
Acquisition and construction project
Shoppingcenter Cristal, Martigny (VS)
Investment amount approx. CHF 90m 13‘564 m2 retail area, garage
Key Tenant Coop
Completion planned for April 2011
Construction project
Opfikon-Glattbrugg (ZH), Wright Place
Investment amount approx. CHF 140m
88 apartments and 30’000 m2 retail and office space Completion planned for 2013
Acquisition and construction project
Allschwil, Ziegeleiareal
Investment amount approx. CHF 761m
126 apartements and 133 parking spaces
Completion 2nd quarter 2011
Acquisition
Wankdorf-Center, Bern
Investment amount approx. CHF 200m (Joint-Ownership)
Retail (49%), office (18%), school (12%), parking spaces (9%), rest (12%)
85 90 95 100 105 110 115 120 125 130 135 140 30. 12. 06 30. 06. 07 30. 12. 07 30. 06. 08 30. 12. 08 30. 06. 09 30. 12. 09 30. 06. 10 30. 12. 10 30. 06. 11 30. 12. 11
UBS (CH) Property Fund - Swiss Mixed «Sima» SXI Real Estate® Funds TR*
Comparison of UBS «Sima» with its Benchmark
Pe rf o rm an ce in dex ed in CHF
These figures refer to the past. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units.
Source: UBS Global Asset Management/Datastream Data: as at end of December 2011
Ø p.a. 5 years Sima -5.1 -0.8 20.0 8.8 8.0 32.6 5.8 BM -3.3 0.5 20.5 5.7 6.8 32.3 5.8 Performance in % as per 30.12.2011 Name 2007 2008 2009 2010 2011 5 years YTD
UBS (CH) Property Fund – Swiss Mixed «Sima»
Product
– Biggest listed swiss real estate fund
– High liquidity trough large investment volume and small denomination – Attractive return on NAV and distribution
Portfolio
– Attractive residential and commercial buildings troughout Switzerland – Stable returns from existing portfolio
– Growth through acqusitions of construction projects and standing properties – Development potential through renovations and urban densification
Management
– Large know-how trough more than 65 years of experience – Customer-focused, transparent, far-sighted
– Fondsteam with qualified specialists – Active portfolio- and asset management
As per Januay 2012
New construction projects UBS «Sima»
Building type Place Address Project Total volume in
m CHF Completion by
Commercial property Gümligen Worbstrasse new construction 80 Q1 2012
Residential property Villmergen Anglikerstrasse new construction 20 Q3 2012
Hotel Opfikon Riethofstrasse new construction 89 Q3 2013
Commercial & residential
property Opfikon Glattpark new construction 140 2013/2014
Residential property Altstätten Schachenstrasse new construction 40 Q2 2014
Residential property Boudry new construction 18 Q3 2014
As per January 2012
Project Wright Place, Opfikon
1/2
Facts and Figures
Mixed usage with restaurants, retail and
office space, apartements and a public parking
Investment amount approx. CHF 140m
Floor-space approx. 38‘000m2
Rental income approx. CHF 8,4m
As per January 2012
Project Wright Place, Opfikon
2/2
Schedule
Purchase of land: 1977 (as potential
building land)
Approval development plan in 2009
Competition in 2009/10
Project planning in 2010/11
Construction phase from 2012 to 2014
USP‘s
excellent connection to public transportation
Long term anchor tenant Migros
‚Minergie‘-Standard
High architectural quality
First Mover Advantage
Tenant structure by floor space 20% 32% 23% 21% 4% Retail / Fitness Office Residential Parking Other by rental income 23% 37% 28% 11% 1%
As per Januay 2012
Development projects from existing portfolio UBS «Sima»
Building type Place Address Project Total volume in
m CHF Completion by
Residential property Zürich Gutstrasse Redensification / Refurbishment 25 2Q 2012
Residential property Zürich
Honrainweg /
Seestrasse Redensification / Refurbishment 14 4Q 2012
Shopping Center Rapperswil Alte Jonastrasse Refurbishment 66 3Q 2013
Residential property Wetzikon Blaketen Redensification / Refurbishment 19 2Q 2013
Residential property Zürich Etzelstrasse Redensification / Refurbishment 28 2Q 2013
Sustainability “LowEx Zero Emission“
Renovation Honrainweg / Seestrasse, Zurich
1/3
Facts and Figures
Renovation and redensification of an
existing property with year of construction1951
Investment amount approx. CHF 14 Mio.
44 apartments and 5 studios in the attic
Rental income approx. CHF 1.2 Mio.
Sustainability “LowEx Zero Emission“
Low Ex zero emission
Current established solutions aim to avoid energy loss by extensive insulation and
sealing of buildings (e.g. ‚Minergie‘). Further development of these methods will
reach their technical limits over time.
An alternative approach is the use of natural energy sources which are collected
and stored for winter periods. Focus is on reduction of CO
2emission to zero (Low
EX, Zero Emission). During winter periods the stored warmth is extracted by heat
pumps in order to heat the building.
Sustainability “LowEx Zero Emission“
Renovation Honrainweg / Seestrasse, Zurich
3/3
Schedule
Pre-project in 2010
Project and building permit in 2011
Construction phase in 2012
Architect/GP: Baukontor Arch. Zurich
Technical installations: Amstein + Walthert,
Zurich
General contractor: Renespa AG, Wallisellen
USP‘s
Renovated apartements in Zurich-Wollishofen
LowEx Zero Emmission concept
Thermo-photovoltaic collectors and soil
accumulator
Savings of approx. CHF 160.- per month as a
result of lower energy costs
For further information
UBS Real Estate Funds (http://www.ubs.com/realestate-switzerland)
Contact
www.ubs.com
Dr. Daniel Brüllmann, CFA Head of Wholesale Business Global Real Estate – Switzerland Brunngässlein 12
4051 Basel +41-61-288 35 48
Disclaimer
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authorised investors in the UBS Foundation for the Investment of Pension Fund Assets investment groups. Before investing in a product please read the latest prospectus carefully and thoroughly. Units of UBS funds mentioned herein may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is
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