SWISS HELVETIA FUND $11.39 (New York symbol SWZ; Shares outstanding: 33.2 million; Market cap: $378.6 million; CWA Rating: Conservative) invests mainly in large-capitalization Swiss stocks. The fund’s manager is Hottinger Group, which, as Banque Hottinger, dates back to 1786.
The Swiss government has moved quickly to restore confidence in its banking system. This includes taking a 9% interest in banking giant UBS AG. Renewed global growth will help the export oriented Swiss economy.
The $594.4 million fund’s top holdings are Nestle SA (food & beverages), 17.0%; Roche Holdings (pharmaceuticals) at 12.2%; Novartis AG (health care and pharmaceuticals), 9.2%; Zurich Financial Services (insurance), 5.4%; Syngenta AG (agribusiness), 4.9%; Basilea Pharmaceutica AG (Swiss biopharma), 3.8%; Atel Holding AG (Swiss energy), 3.5%; UBS AG (banking), 2.6%; Addex Pharmaceuticals, 2.6%; and BKW FMB Energie AG (Swiss power), 2.1%.
The main industry exposure of the fund’s stocks is as follows: Pharmaceuticals, 18.3%; Food & beverages, 17.0%; Utility suppliers, 10.5%; Chemicals, 9.6%; Industrial goods & services, 8.9%; Biotech, 7.2%; Banks, 6.3%; and Technology, 4.2%.
Swiss Helvetia Fund sells for a 17% discount from the current value of its assets. Buy.
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