UBS Fund Management's Stake in Swiss National Bank

(Reuters) – UBS Fund Management (Switzerland) AG now holds a 3% stake in the Swiss National Bank, as noted in an October filing with the SIX stock exchange.

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

Both UBS and the SNB declined to comment on this matter.

As per the central bank's latest annual report, Switzerland's cantons own nearly 59% of SNB shares, with the largest stakes held by the cantons of Bern, Zurich, and Vaud. The remaining shares are held by cantonal banks and private sector shareholders.

Last year, UBS acquired rival Credit Suisse, which experienced a collapse following several financial difficulties. UBS is currently in the process of integrating Credit Suisse, which LSEG data indicates had at least one unit that held SNB shares.