SWISS HELVETIA FUND $8.96 (New York symbol SWZ; Shares outstanding: 33.3 million; Market cap: $297.8 million; CWA Rating: Conservative) invests mainly in large-capitalization Swiss stocks. Hottinger Group, which dates back to 1786, manages the fund.
The Swiss government has moved quickly to restore confidence in the country’s banking system. It’s also lowering interest rates to ease credit and devalue the Swiss franc. The Swiss economy is heavily reliant on exports. A rise in world trade would greatly benefit the country’s industries.
The $469.1-million Swiss Helvetia Fund’s top holdings are: Nestle SA (food and beverages), 19.9%; Roche Holdings (pharmaceuticals), 12.9%; Novartis AG (health care and pharmaceuticals), 9.3%; Addex Pharmaceuticals, 3.8%; Alpiq Holding (electric power), 3.4%; Acino Holding (pharmaceuticals and chemicals), 3.4%; Basilea Pharmaceutica (biopharmaceuticals), 3.2%; Actelion Limited (pharmaceuticals), 1.9%; and Galencia AG (pharmaceuticals), 1.4%.
The fund holds stocks in the following major industries: pharmaceuticals, 22.3%; food and beverages, 18.3%; biotech, 12.9%; utility suppliers, 7.5%; insurance, 6.7%; financial services, 4.2%; banks, 3.9%; chemicals, 2.9%; and retailers, 1.2%;
Swiss Helvetia Fund sells for a 17% discount on the current value of its assets. Buy.
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