Julius Baer yesterday released a statement under the Swiss Federal Stock Exchange Act, which disclosed that the US investment firm, Harris A...

Julius Baer yesterday released a statement under the Swiss Federal Stock Exchange Act, which disclosed that the US investment firm, Harris Associates has build up a 4.96 per cent stake in the Zurich-based bank. Harris Associates hold more than 2.6 million shares in Julius Baer, a stake worth around SFr231 million ($175.1 million). That makes the Chicago-based firm one of the biggest shareholders in Julius Baer. Harris specializes in value investing, ie. investing in companies that are trading at a significant discount to intrinsic business value. Is this a vote of confidence in Baer’s future? Emails to the editor, please.