UBS has a new big investor. The shareholder is well-known and recently dropped its investment in Credit Suisse.
California-based fund house Dodge Cox ramped up its investment in UBS to 3.03 percent, according to an obligatory stock market disclosure dated November 27. This translates to roughly 117 million shares, or $1.5 billion.
The bank didn't comment on the stake, according to news agency AWP (in German). Dodge Cox joins other sizable shareholders including Blackrock, which holds 4.99 percent, and U.S.-based fund house MFS Investment at 3.05 percent.
Dodge & Cox manages $310 billion in total and is specialized in turnaround investments. The firm is well-known in Switzerland for previous investments in Roche and Novartis as well as Credit Suisse, an investment it exited in 2017.
