Figures released by the Swiss National Bank show that the value of securities held by Swiss banks on behalf of foreign private clients rose ...

Figures released by the Swiss National Bank show that the value of securities held by Swiss banks on behalf of foreign private clients rose 12.4 per cent in the first 11 months of 2005 to SFr941 billion ($743.3 billion). A breakdown of the figures shows that around 45 per cent was held in collective funds, 24 per cent in bonds and 21 per cent in equities. No figure was given for the remaining 5 per cent, but this was presumably held in cash. But foreign institutions increased their holdings of Swiss securities by 41.3 per cent to SF1.3 trillion. Much of the increase has been as a result of the very strong performing local stock market, which has attracted considerable outside interest.