Asset Management

BlackRock gets defensive amid political upheaval in Europe

World's biggest asset manager considers Brexit the main threat to stability in EU markets

Wednesday 30 January 2019 at 12:54

BlackRock has been pouring more money into defensive stocks in Europe, particularly healthcare and industrial companies, with the world’s largest asset manager predicting a continued period of significant political uncertainty for the region.

In a research note to investors, the asset manager said a deterioration in risk appetite in Europe, triggered by Brexit, had led to what it called “composition changes” within the market. This has caused defensive sectors to outperform, BlackRock said.