Monem Salam Featured in Advisor Perspectives on Europe's Strategic Shift
Monem Salam, executive vice president, director, and portfolio manager at Saturna Capital, was featured in Advisor Perspectives.
In the article, "A NATO 'Divorce' in Slow Motion – And Why It Matters for Client Portfolios," Monem uses the metaphor of a strained marriage to walk advisors through five stages of an evolving US-Europe relationship — from initial complaints over defense spending to Europe's growing pursuit of "strategic autonomy."
The investment implication, he argues, is a multi-year cycle of European spending that extends well beyond weapons makers into the foundations of a resilient society: transport and logistics, power and grids, and secure communications and data. "Europe is entering a multi-year investment cycle in security-related infrastructure," Monem writes, noting that Saturna has already begun to "buy more Europe" within its funds — focusing, in line with the funds' guidelines, on high-quality European companies tied to defense-adjacent infrastructure rather than direct defense manufacturers.