AMWatch

Lego billionaires’ fund says now’s no time to buy stocks

The fund manager overseeing the fortune of the Lego billionaires says equity markets remain too volatile to justify any bargain hunting.

Photo: FABIAN BIMMER/Ritzau Scanpix

“This is not the time to be brave,” Soren Thorup Sorensen, the chief executive of Kirkbi Group said in an interview on Tuesday. He spoke shortly after unveiling a set of results that showed he almost doubled the Lego family’s investment profits in 2019.

“Volatility is at historic highs,” said Sorensen, who manages a EUR 16.4 billion (USD 18 billion) portfolio as the Kirkbi CEO. As a long-term investor, the best response is to “sit still and weather the storm,” he said.

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