Profit from the 'grey pound' with these three stocks

Populations are getting older and that spells opportunity for canny investors. Fund manager Johan Utterman tips three stocks to profit.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week:Johan Utterman, manager, Lombard Odier Golden Age Fund.

Ageing populations are one of the greatest challenges facing society today. By 2050, almost 25% of Britain's population will be aged 60 or over, up from 17% in 2011. And in developed markets in general, the cohort of over-65s is growing three times faster than younger generations. Yet this is also a great opportunity for investors. People retiring today are far more willing and able than past generations to spend money on themselves. In the UK, nearly two million of the over-60s have more than £1m in total wealth (including property). By the endof this decade, the spending power of this group across global markets is expected to rise to $15trn.

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Johan Utterman is manager of the Golden Age fund at Lombard Odier Investment Managers.