SNB’s Pile of U.S. Stocks Jumps as Global Equity Markets Recover
SNB’s Pile of U.S. Stocks Jumps as Global Equity Markets Recover
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The Swiss National Bank’s holdings of U.S. equities gained 17% in the first quarter, lifted by the share market rally.
The SNB, whose investments mirror indexes, owned stock in 2,507 companies worth a total of almost $91.2 billion, according to a regulatory filing on Friday. That value is just shy of the record touched in late 2017.
A SNB spokeswoman declined to comment.
The filing to the Securities and Exchange Commission is the only information available on how the central bank’s stakes in individual companies are evolving. At the end of March, the lion’s share of its foreign exchange reserves were invested in bonds, with 20 percent in stocks.
Share markets took a beating at the end of last year but then recovered in early 2019, with the Dow Jones Industrial Average climbing 11.2% and the S&P 500 climbed up 13% in the three months through March.
To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss
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