The SNB may have to sell part of its >$100 bn US stock portfolio
An ICYMI on the Swiss National Bank and the campaign being waged in Switzerland to ban it from investing in defence companies.
- A referendum will go to voters, current polling show 54% are in favour of the limit on such investments
- The SNB and pension funds would be prohibited from providing financing for a company that derives more than 5% of revenue from arms sales
- Estimates from the SNB are it would be forced to liquidate its holdings in around 300 companies, which account for just over 10% of the value of its global stock portfolio.
The vote is on November 29.