LONDON (Reuters) - Britain's biggest asset manager Legal & General will buy more defence stocks as a new geopolitical climate fuels the earnings growth of companies, its chief investment officer said
Legal & General Plans to Increase Defence Stock Investments
LONDON (Reuters) - Britain's biggest asset manager Legal & General will buy more defence stocks as a new geopolitical climate fuels the earnings growth of companies, its chief investment officer said on Thursday.
"With the public mood shifting so dramatically, you would expect that the earnings growth of these sectors will go up and probably go up quite significantly," said CIO Sonja Laud, adding that the 1.1 trillion pounds ($1.4 trillion) manager would "absolutely" increase exposure.
“We will go along with a more positive stance (to defence), it’s inevitable if you consider the geopolitical situation," Laud told Reuters.
($1 = 0.7724 pounds)
(Reporting by Iain Withers and Naomi Rovnick; Editing by Tommy Reggiori Wilkes)
