Novartis has turned up as this month’s favourite among elite fund managers tracked by Citywire Elite Companies, making up one of the seven large caps to boast the AAA rating this July.
The pharma giant overtook building materials firm Holcim, which occupied first place in June, while electrification firm ABB moved to third. Glencore, the commodity corporation, descended to fourth place while Nestle came in fifth – up one position.
The last two large caps to boast the AAA rating were Roche, which rose two spots to sixth after rising 37 ranks in June, and UBS, which remained flat at seventh.
