The Swiss National Bank has decided to increase its stake in the portfolio worth $37.5 billion which comprises of companies like Exxon Mobil Corp., Apple Inc. (NASDAQ:AAPL) and Johnson & Johnson. The investment was made in the previous quarter ended March 31, 2015.
Road So Far
The central bank of Switzerland had over 8.9 million shares in Apple on March 31, 2015. The information was made public by the company in a filing that was presented to U.S. Securities and Exchange Commission. If this volume is compared with the one SNB had at the end of the fiscal 2014, one can see a huge surge. As per the reports, SNB owned total 5.6 million shares of Apple on March 31, 2014. The primary reason for this 60% surge in the growth is nothing but the excellent performance done by iPhone6 and iPhone6 Plus.
SNB has decided to take calculative decisions; hence, the company looks forward to diversifying its portfolio. Its stake in Johnson & Johnson increased 44% while in the Exxon Mobil rose 48% in the previous quarter. In order to make sure that its position remains stable in the coming days as well, the company has decided to put the maximum of its investments in these three companies only. It’s similar to what it did in the previous quarter.
Earlier, the bank had 15% of its foreign investments in the equity, but now it has decided to uplift the percentage to 18% in this quarter. Similar to equity investment, it has also decided to increase its dollar holdings from 29% to 32% in this quarter. Reporters tried to get in touch with the management of SNB, but company’s spokesperson Walter Meier refused to make any such comment.
A recently made SEC filing states that the total investment of SNB in 2,500 U.S. companies comes to about $37.5 billion, and likely to increase in the future.