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Key Points for the Defence Sector in 2026: A Conversation with the Manager of DNB European Defence

Europe is currently undergoing the most significant transformation in its defence and security framework in decades. What were once political ambitions are now materialising at an industrial level: budgets are turning into real orders, and production capacity is accelerating. This new environment is creating highly attractive opportunities for investors.

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2025 marked a turning point in the order books of European defence companies, and all indications suggest that 2026 will be the year when many of these contracts translate into actual revenues. The differences between companies with strong technology, industrial capacity, and reliable delivery performance are becoming increasingly visible.

In this webinar, we analyse how these developments support the investment strategy of DNB European Defence, a fund launched in April 2025 that has delivered very attractive returns since its inception. You meet Stian Ueland, the fund manager, in conversation with moderator Jorgen Mork.

For more information, go to the fund’s page:

DNB European Defence

Invest in companies that contribute to Europe's security and preparedness.

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Stian Ueland

Lead Portfoilio Manager

Stian Ueland started in the company in February 2021, coming from a position as a portfolio manager at Norges Bank Investment Management (NBIM). He has been working in asset management since 2015.

He holds a Master of Science from London Business School and a PhD from the Massachusetts Institute of Technology (MIT).

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