SEB European Defence & Security Fund
Invest in Europe’s shift towards greater security and resilience
The value of fund units can rise as well as fall, and you may not get back the amount you invested. Fund information, including the KID, prospectus/information brochure, and sustainability-related disclosures, can be found at sebgroup.lu/funds and seb.se/fondlista.
In response to the deteriorated security situation in Europe, the region now needs to significantly increase its security and defence investments. SEB strives to contribute to strengthening Europe’s defence, security and resilience by offering investment opportunities in companies that are key players in the development of a stronger and safer Europe.
Our actively managed thematic equity fund will invest in the core themes of aerospace, defence and security - along with complementary areas that serve the same overarching goal of building a resilient, safe, and self-reliant Europe such as cybersecurity, advanced technology, and critical raw materials.
Investement themes
Aerospace, defence and security
Companies directly engaged in defence manufacturing and services.
This includes air and missile defence, artillery systems, ammunition and missiles, drones and counter-drone systems, military mobility (EU-wide transport network), AI, quantum, cyber and electronic warfare (advanced systems for electro-magnetic spectrum control and cyber operations), and strategic enablers and protection (for example border security).
Cybersecurity and IT services
Companies providing cyber defence solutions, secure IT infrastructure, and related services.
European cyber companies, secure cloud providers and IT defence contractors play a key role in protecting data networks, financial systems and communication channels. Investment in this area aims to capitalise on the potential demand for cyber resilience across both the public and private sectors.
Infrastructure, transport and engineering
Companies involved in strengthening Europe’s physical and digital infrastructure, from smart grid suppliers to railway signalling system providers.
Investments encompass construction and engineering companies building hardened facilities or upgrading transportation networks, companies managing secure communication networks or utilities, and those specialising in infrastructure security systems.
Semiconductors and advanced tech
Key technology companies, notably in semiconductors, electronics, and other dual-use technologies vital for defence and societal resilience.
Investments in technologies that are the linchpin of modern defence systems (such as guidance electronics, semiconductor sensors, secure communications, AI, and robotics), as well as the broader digital economy, which is critical to both military capability and civil industry competitiveness.
Guardians of societal resilience and stability
Ensuring societal stability, upholding legal frameworks, transparency, and safeguarding financial systems.
The broader economic theme is one of investing in resilience – strengthening manufacturing and technological capabilities within Europe to reduce reliance on external suppliers, whether for microchips, energy, or other critical resources.
Raw materials and industrials
Companies involved in securing critical raw materials and industrial goods necessary for defence and high-tech industries.
This includes European mining companies focusing on rare earth elements, lithium or other strategic minerals, as well as chemical or industrial firms producing specialised materials (for armour, semiconductors, batteries, etc.). Selected industrial manufacturers that enable supply-chain resilience fall under this umbrella.
Actively managed thematic equity fund with European focus
SEB European Defence & Security Fund is an actively managed equity fund focused on companies that contribute to Europe’s defence capabilities, safety, and geopolitical autonomy. With a long-term, thematic investment strategy, the fund targets structural growth opportunities within the broader defence and security ecosystem, primarily in Europe but with global flexibility.
SEB European Defence & Security Fund in short
- The fund is focused on European markets, but may allocate 25% of its assets outside Europe (NATO and/or OECD countries and Taiwan) to capture leading global players or technologies not present in Europe
- Fundamental, stock-picking approach, with a concentrated portfolio of some 30-50 stocks
- Benchmark: MSCI Europe Net Return Index (75 %) and MSCI European Aerospace and Defense Net Return Index (25%)
- The fund is classified as an Article 8 fund*
- Award-winning** Fundamental Equities portfolio management team with Robert Vicsai as responsible Portfolio Manager
*According to the European Union’s Sustainable Finance Disclosure Regulation (SFDR) which means that the fund promotes environmental and social characteristics.
**For example, SEB Sverige Småbolag Chans/Risk, SEB Nordenfond and SEB Sverigefond, managed by the Nordic Fundamental Equities team, won awards for consistently demonstrating strong risk-adjusted returns compared with peers across various time frames for each respective fund: 10 years, 5 years and 3 years (Source: Lipper Fund Awards 2025).
Contact us
Please contact your Client executive for further information.