APG’s Wuijster reflects on investing more in defence
APG Asset Management which manages €552 billion ($624 billion) for Dutch pension fund Stichting Pensioenfonds ABP is pondering increasing its existing $2.5 billion allocation to the defence sector.
“Defence has always been on our radar; we haven’t excluded it,” says Ronald Wuijster, chief executive of APG Asset Management. “We are already in this sector and could do a bit more over the next five years.”
Many European pension funds cap investment in the defence sector and exclude defence stocks because they fall foul of ESG filters. Yet geopolitical uncertainty and continued war in Europe is leading the continent’s pension funds to review the ethics of investing in the industry.
Wuijster prefers to frame the argument to…
