Fund manager VanEck's defence-industry focused exchange traded fund (ETF) has reached more than $550 million in net assets in its first year, VanEck said on Monday, highlighting how current, global conflicts have driven investors to the defence sector. The New York-headquartered firm launched its VanEck Defense UCITS ETF at the end of March 2023. The war in Ukraine and the conflict between Israel and Hamas, which has also drawn in Iran, has led many governments to call for more military spending.
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