Given the structural growth in Defence Procurement, the market is underestimating the Earnings Potential

Key takeaways from this report

• Sales growth for European defence companies is expected to outpace defence spending growth
• Increased volumes and operational leverage mean that profits grow faster than sales
• Valuation multiples based on realised earnings number may underestimate stock price potentials
• Price correction and lower valuation multiples can constitute an attractive opportunity for investments in the European defense sector

This is marketing communication. Please read the fund's prospectus and the base fact sheet before making any definitive investment decisions. Risk information: historical returns are not a guarantee of future returns. The money placed in the fund may both increase and decrease in value and it is not guaranteed that you will recover the entire invested capital.