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The Swiss National Bank Released it's Foreign Exchange Reserves and Swiss Franc bond investments (end of Q3 2017) and filed its U.S. stock holdings with the SEC. 40% of it's investments are in the euro with 35% in the U.S. Dollar. 68% in Bonds and 20% in stocks.

SNB Sep 17 Allocation

(1) Mainly AUD, CNY, DKK, KRW, SEK and SGD plus small holdings in additional currencies in the equity portfolios.

(2) Government bonds in their own currencies, deposits with central banks and BIS; in the case of CHF investments, also bonds issued by Swiss cantons and municipalities.

(3) Government bonds in foreign currency, covered bonds, bonds issued by foreign local authorities, supranational organisations, corporate bonds, etc.

(4) Average rating, calculated from the ratings of leading credit rating agencies.

Equities are managed on a purely passive basis, whereby broad market indices of advanced and emerging economies are replicated.Exchange rate and interest rate risks are managed using derivative instruments such as interest rate swaps, interest rate futures, forward foreign exchange transactions and foreign exchange options. In addition, futures on equity indices are used to manage the equity investments.

The investment structure at year-end is also published in the Annual Report under ‘Asset management’.

See: Swiss National Bank With $88 Billion in U.S. Stocks Now One of The Largest & Most Influential

Source: SNB

From The Traders Community Research Desk

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