The investment arm of one of the world’s biggest insurers just made major additions to its U.S.-traded investments, purchasing large stakes in Apple, Nvidia, Corning, and Pfizer.
MEAG Munich Ergo initiated a stake in iPhone maker Apple, and bought more shares of chip maker Nvidia, specialty-glass maker Corning, and vaccine maker Pfizer in the second quarter. MEAG, which handles all the investment activities for Munich Re, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.
As of March 31, it managed $337 billion in assets.
The asset manager bought 242,657 Apple shares in the second quarter. It hadn’t owned any at the end of the first quarter.
MacDailyNews Take: Smart investors are scooping up Apple at a discount.
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