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UBS fund management arm reports 3% stake in Swiss National Bank

Published 10/25/2024, 07:58 AM
Updated 10/25/2024, 08:01 AM
© Reuters. FILE PHOTO: A UBS logo is pictured on the branch of the Swiss bank in Lucerne, Switzerland, June 14, 2024.  REUTERS/Denis Balibouse/File Photo
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(Reuters) - UBS Fund Management (Switzerland) AG now holds a 3% stake in Swiss National Bank, according to an October filing with the country's SIX stock exchange.

According to LSEG data, UBS Asset Management (Switzerland), another subsidiary of the UBS group, also has a stake in the Swiss central bank.

UBS and the SNB declined to comment.

© Reuters. FILE PHOTO: A UBS logo is pictured on the branch of the Swiss bank in Lucerne, Switzerland, June 14, 2024.  REUTERS/Denis Balibouse/File Photo

Switzerland's cantons hold nearly 59% of SNB shares, with the biggest stakes held by the cantons of Bern, Zurich and Vaud, the central bank's latest annual report shows. Cantonal banks and private sector shareholders hold the rest, it said.

UBS last year acquired rival Credit Suisse, which collapsed after a string of financial setbacks. UBS is in the process of integrating Credit Suisse, which LSEG data shows had at least one unit that held SNB shares.

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