UBS Asset Management has removed its exclusion on investments in conventional weapons manufacturers, joining other European money managers like Allianz Global Investors in reassessing their policies amid rising geopolitical tensions. This shift comes as defense stocks surge due to increased military spending commitments from European nations. Exclusions remain for controversial weapons such as cluster munitions and biological weapons.
ubs lifts ban on defense investments amid rising geopolitical tensions
UBS Asset Management has lifted its ban on investments in certain defense companies, joining a trend among European asset managers to reconsider exclusions amid rising geopolitical tensions. The firm, which manages $1.8 trillion in assets, will now allow investments in conventional arms manufacturers, while still prohibiting controversial weapons. Other firms, including Allianz Global Investors and Danske Bank, are also easing restrictions on defense investments.
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