U.S. investor Capital Group Companies has taken a 4.38 percent stake in Switzerland's UBS, an announcement on the Swiss stock exchange website from Saturday showed.

The price of the transaction was not disclosed.

Los Angeles-based Capital Group, which holds 141.3 million shares in UBS, says on its website that it believes in a long-term investment strategy.

Switzerland sold its 9 percent stake in UBS, the world's second-largest wealth manager in terms of assets, for 5.5 billion Swiss francs earlier this month, making a solid profit from last year's rescue of the bank.

(Reporting by Jason Rhodes; editing by John Stonestreet)