PURE Swiss Opportunity REF (PSO) posts strong annual results for 2025 and increases total comprehensive income by over 150%

Media release I Zug, March 30, 2026

• Increase of the portfolio’s market value by CHF 66.6 million to CHF 256.3 million
• Increase in rental income by CHF 1.6 million to CHF 7.7 million
• Total comprehensive income rises from CHF 5.4 million to CHF 13.6 million
• Attractive return on investment and return on equity of 6.6% and 6.5% respectively (5.1% in both cases in the previous year)
• Low vacancy rate of 1.4% as at the reporting date
• Debt-to-equity ratio as at the reporting date of 22.0%
• Increase in the distribution by 20 centimes to CHF 4.50 per unit (3.48% distribution yield)

Performance of the property fund

PSO completed its fifth full financial year on 31 December 2025 and continued its positive performance. A key milestone was its successful listing on SIX Swiss Exchange in October 2025.

Total fund assets (GAV) increased to CHF 281.1 million, representing an increase of CHF 84.0 million. After deducting liabilities of CHF 60.1 million and estimated liquidation taxes of CHF 2.8 million, the net asset value (NAV) stands at CHF 218.2 million (previous year: CHF 108.9 million).

As at December 31, 2025, the net asset value per unit stood at CHF 128.11 (previous year: CHF 124.52). The fund management company plans to increase the distribution by 20 centimes to CHF 4.50 per fund unit for the 2025 financial year. This represents a distribution ratio of 81.0%. The payment is scheduled for 24 April 2026.

Property portfolio

In the 2025 financial year, PSO acquired six attractive properties in prime macro- and micro-locations in Zurich, Lausanne and Bern, with a total value of CHF 94.6 million. The acquisitions were made predominantly without a tender process and in line with the investment strategy, and increased both the proportion of rent from residential use and the quality of the property portfolio.

The properties are located in economically strong areas, have a solid mix of uses and meet PSO’s ESG requirements. Furthermore, these acquisitions marked the first expansion of the portfolio into the French-speaking part of Switzerland. Two properties in Moosleerau and one property in Sissach were sold at a significant profit in line with the strategy. As at the reporting date, PSO holds a total of 18 properties.

Income Statement

The real estate portfolio generated rental income of CHF 7.7 million in the 2025 financial year, representing an increase of CHF 1.6 million, or 25.5%, compared with the previous year.

The six properties acquired generated valuation and revaluation gains of CHF 1.8 million (previous year: CHF 1.6 million) after liquidation tax. The three properties sold generated realised capital gains of CHF 2.4 million after property gains tax.

Net income rose from CHF 3.8 million to CHF 9.4 million, whilst total comprehensive income increased from CHF 5.4 million to CHF 13.6 million.

Sustainability and portfolio optimisation

As part of the ongoing portfolio optimisation, a comprehensive building condition analysis of all properties was carried out in the 2025 financial year. The aim was to assess the service life of individual building components and to evaluate the cost-effectiveness and sustainability of various refurbishment measures. Based on the results of these analyses, strategies for the future optimisation, refurbishment and maintenance of the individual properties are being developed. In addition, a revised CO₂ reduction pathway was drawn up for the portfolio. For details, see the Sustainability Report in the 2025 Annual Report.

Outlook for 2026

In the 2026 financial year, PSO will implement targeted sustainability measures to further improve the environmental, social and economic quality of its portfolio. The projects will focus in particular on energy efficiency, climate protection, social sustainability and future flexibility of use. In addition, active asset management will be used to realise potential and continuously optimise the profitability of the properties.

The listing of PSO on SIX Swiss Exchange increases liquidity and thus meets a key investment criterion for investors. Over the coming years, PSO is set to be further expanded through capital increases in order to continuously boost liquidity and the share premium.

Annual Report 2025

The audited Annual Report 2025 (German version) is available on the website of the fund management company PURE Funds AG at: http://www.pure.swiss/downloads/
 

About PURE Funds AG

Partnership, uniqueness, return and commitment – that is PURE. PURE Funds AG is an independent, privately held fund management company authorised by FINMA. We manage and distribute our own fund solutions with a focus on investments in real estate. We also offer consulting, asset and portfolio management, and the handling of real estate transactions for third parties. Through our innovative and passionate approach, we create opportunities, generate value and shape the future together with our partners. We question and optimise proven business areas, are agile and realise opportunities with foresight.

Further information and contact details

PURE Funds AG | T +41 41 726 19 19 | info@pure.swiss | www.pure.swiss

CEO I Flavio Lauener I T +41 41 726 19 10 I flavio.lauener@pure.swiss

Head Investment Management | Michael Kirschner | T +41 41 726 19 13 | michael.kirschner@pure.swiss

Investors Relation | Beat Blattner | T +41 41 726 19 13 | beat.blattner@pure.swiss

Disclaimer
This press release constitutes advertising in accordance with the provisions of the Federal Act on Financial Services (FIDLEG). It does not constitute a prospectus within the meaning of Art. 35 et seq. FIDLEG, a key information document within the meaning of Art. 58 et seq. FIDLEG, nor an issue prospectus within the meaning of Art. 27 et seq. of the Listing Rules of SIX Swiss Exchange AG. Nor does it constitute an offer or a recommendation to subscribe for or redeem fund units, but is intended solely for information purposes. Past performance is not a guarantee of current or future performance or returns. Furthermore, the performance figures do not take into account all commissions and costs associated with the issue and redemption of units. This press release may contain forward-looking statements that are subject to uncertainties and risks and are subject to change. All forward-looking statements are based on data available to the fund management company PURE Funds AG at the time of drafting this press release. PURE Funds AG accepts no obligation to update forward-looking statements at a later date on the basis of new information, future events or similar factors. The documents that are solely binding for investment decisions – the prospectus with integrated fund contract and the current annual report – may be obtained free of charge from the fund management company, PURE Funds AG, Gotthardstrasse 14, 6300 Zug, or from the custodian bank, Banque Cantonale Vaudoise, Case Postale 300, 1001 Lausanne. Investments in financial products involve various risks, including the potential loss of the capital invested (total loss). PURE Funds AG shall not be liable for any losses or damages (direct, indirect or consequential) caused by the distribution of this press release or its content, or arising in connection with the distribution of this press release. This press release is not directed at persons whose place of residence and/or business is outside Switzerland. In particular, this press release must not be sent to or taken into the United States, nor may it be delivered to a US person (within the meaning of Regulation S of the US Securities Act of 1933, as amended).