Investors rushing into so called "defensive" assets could be walking into a bubble and putting their money at risk, Magellan chief investment officer and CEO Hamish Douglass has warned.
On the back of the ASX-listed global funds management firm's announcement of a $109.3 million after-tax profit for the six months to 31 December 2015, a 41 per cent increase up from $77.4 million for the first half last year, Mr Douglass issued a warning to investors who might be invested in what they believe to safe, defensive companies.
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Matthew Smith writes on personal finance specialising in companies, managed funds and investing themes from our Sydney newsroom. Connect with Matthew on Twitter.
