Novartis Message Board - Msg: 3045359

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Biotech / Medical : Novartis

NVS 126.57

+0.9%

10:20 AM EST

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To: Sonki who wrote (138)	12/27/1997 4:20:00 AM
From: Ted Scheidegger	Read Replies (2) of 296

The fund is the Swiss Helvetia Fund (SWZ) traded on NYSE. It did indeed have 22.2% of NAV invested in Novartis on Sept 30, 1997. The position may have changed in the mean time. A call to the fund manager would clarify this. I am not aware of a swiss index fund for US investors. However, the NAV of SWZ has closely tracked the SMI index in the past. Keep in mind however, that the fund has historically most often traded at a discount to NAV. This can lead to attractive entry points into the swiss market (IMO when discount >20% and SMI >10% off previous high) for investors with a long term perspective. Ted

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