GIC owns 3.09 percent of Julius Baer, according to a statement released by the Swiss stock exchange in Zurich. The stake makes GIC one of the largest owners of Julius Baer alongside Blackrock, Wellington Management and UBS Fund Management.

Two years ago, GIC sold its stake in UBS, Switzerland's largest bank, at a loss. Ten years earlier, during the financial crisis, the state fund of Singapore had helped UBS get back on its feet, buying a stake worth more than 10 billion Swiss francs ($10 billion). In May 2017, it reduced the stake again to about 2.7 percent.

GIC also holds a stake in Dufry, the Swiss-based travel retailer, where it owns about 5 percent.