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Lego heirs' USD 16bn fund is bracing for a bleaker future

The fund managing the wealth of the billionaires behind Danish toymaker Lego says a growing list of threats to the global economy is shaping its investment strategy.

Photo: Ritzau Scanpix/Mads Claus Rasmussen

Kirkbi Group, which has USD 16 billion in assets built from the reinvested profits of selling Lego bricks, is targeting defensive shares to protect itself from any downturn. It is also investing more in renewable energy, according to Chief Executive Officer Soren Thorup Sorensen.

"I think we all can sense we're now coming to a period where there will be headwinds,’" he says in a phone interview. "We're very cautious with our investment strategy because we may enter a time where we'll see more inflation and higher interest rates."

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