AllianzGI Says First ESG Defense Allocations Likely This Year

Allianz Global Investors expects some of its ESG funds to start adding defense holdings in the coming months, as the money manager updates prospectuses to match the political mood in Europe.

“The European view on defense and the need for defense has shifted,” Matt Christensen, global head of sustainable and impact investing, said in an interview in which he alluded to both the war in Ukraine and the need to meet NATO goals.