Pete Hegseth’s broker looked to buy defence fund before Iran attack - FT
investingLive • • business
Key Points:
- A broker for US Defence Secretary Pete Hegseth explored a multimillion-dollar investment in BlackRock’s Defense Industrials Active ETF in the weeks before the US-Israeli military campaign against Iran, according to the Financial Times.
- The ETF focuses on major US defence contractors and technology firms that benefit from increased military spending, including RTX, Lockheed Martin, Northrop Grumman, and Palantir.
- The investment did not proceed because the fund was not yet available on Morgan Stanley’s platform, though it is unclear if other defence-related investments were pursued.
- The timing of the inquiry is likely to attract scrutiny due to Hegseth’s prominent role in shaping US policy toward Iran, raising questions about the optics of public officials’ financial exposure to sectors influenced by government decisions.
- There is no suggestion of wrongdoing, but the report highlights growing attention on trading activity ahead of major geopolitical and military developments.
