Fact sheet: Worldwide Healthcare IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
SPECIALIST
Sector
IT Biotechnology & Healthcare
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Worldwide Healthcare IT

Rated Fund 2013-2017. Investing in a diverse range of healthcare companies

This trust has twice been highly commended in the Best Large Trust category in Money Observer's annual trust awards, which is no mean feat when it was up against over 100 other trusts from a variety of sectors.

It invests in a diversified portfolio of worldwide pharmaceutical, biotechnology and healthcare equipment, technology and services companies. Managed by US-based specialist healthcare fund manager OrbiMed Capital, the investment team is led by two of the company's founders, Sven Borho and Sam Isaly.

They are supported by a team of over 90 who carry out extensive research. The aim of the managers is to seek innovation and growth in the global healthcare industry and invest in healthcare companies that offer the greatest return potential. Risk is spread through the trust's worldwide exposure and diversification across different healthcare sub-sectors.

At the end of 2016, pharmaceutical and biotech companies made up the bulk of the portfolio, which consisted of 80 holdings. The majority of the top 10 holdings were large, profitable companies. However, investment in smaller companies accounted for 30 per cent of the portfolio. Two thirds was invested in US stocks and 15 per cent in emerging markets.

The trust has a good steady track record because of its diversified approach. Following the US presidential election, the managers believe investors will once again concentrate on the sector's strong fundamentals, in particular innovation, which they say continues to be a key driver of returns.

3 Year Performance
Fund Performance55.1%
Average of Rated Funds Group54.7%
Sector Performance42.3%
Fund information
Fund name
Worldwide Healthcare Trust PLC Ord
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund managers
  • Samuel D Isalysince 31/03/1995
  • Sven H Borhosince 31/03/1995
Accolades
Highly Commended - Best Large Trust
Fund objective
To invest in the global healthcare sector with the objective of achieving a high level of capital growth. In order to achieve its investment objective, the Company invests worldwide in a diversified portfolio of shares in pharmaceutical and biotechnology companies and related securities in the healthcare sector. It uses gearing, and derivative transactions to enhance returns and mitigate risk.
Benchmark
  • MSCI World Healthcare
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
21.2%
1 Year rank in sector
2/5
Sector
IT Biotechnology & Healthcare
Yield
0.9%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.9%
Fund size
£1,226m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
162
Mid price
2533
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
2484.22
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+1.96
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
108
Top in this sector
Fund name1 Year
Syncona Limited45.3%
Wldwide Hlthcare Tst PLC21.2%
Intl Biotechnology Trust8.1%
The Biotech Growth Trust PLC5.4%
PlrCpGblHlthcrTstPLC3.4%
...more in IT Biotechnology & Healthcare

Performance snapshot

Holdings snapshot

  • North America63.6%
    Europe15.5%
    Global Emerging Markets12%
    Asia8.9%
  • Large Cap Companies70.8%
    Small Cap Companies29.2%
  • North American Equities63.6%
    European Equities15.5%
    Global Emerging Market Equities12%
    Asia Pacific Equities8.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.5%2.9%8.2%21.2%55.1%223.3%
Sector-3.7%1.5%6.3%9.6%42.3%176.3%
Rank within sector3 / 63 / 63 / 62 / 53 / 51 / 5
Quartile2nd2nd2nd2nd3rd1st
Calendar performance
 YTD - 20172016201520142013
Fund20.4%10.1%13.9%39.6%47%
Sector12.4%6.2%12.7%39.3%43.2%
Rank within sector2 / 62 / 53 / 53 / 53 / 5
Quartile2nd2nd3rd3rd3rd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
3.78
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.91
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.72
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
18.15
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.18
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.41
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.89
Price movement
52 week high2679
52 week low2020
Current bid price2531
Current offer price2533
Current mid price2533
Region
1North America63.6%
2Europe15.5%
3Global Emerging Markets12%
4Asia8.9%
Industry sector
1Large Cap Companies70.8%
2Small Cap Companies29.2%
Asset type
1North American Equities63.6%
2European Equities15.5%
3Global Emerging Market Equities12%
4Asia Pacific Equities8.9%
Individual holdings
1WRIGHT MEDICAL GROUP INC3.9%
2ALEXION PHARMACEUTICALS INC3.7%
3BOSTON SCIENTIFIC CORP3.6%
4NOVO NORDISK A/S3.5%
5ELI LILLY & CO3.3%
6INTUITIVE SURGICAL INC3.2%
7MERCK & CO INC(NEW)3%
8REGENERON PHARMACEUTICALS INC2.9%
9ANTHEM2.5%
Management
Fund manager group
Frostrow Capital
Fund manager company
Frostrow Capital LLP
Fund type
Investment Trust
Fund objective
To invest in the global healthcare sector with the objective of achieving a high level of capital growth. In order to achieve its investment objective, the Company invests worldwide in a diversified portfolio of shares in pharmaceutical and biotechnology companies and related securities in the healthcare sector. It uses gearing, and derivative transactions to enhance returns and mitigate risk.
Benchmark
  • MSCI World Healthcare
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Samuel D Isaly31/03/1995Samuel D. Isaly is the Managing Partner of OrbiMed. Mr. Isaly is one of the world's foremost healthcare fund managers and has been active in global healthcare investing and analysis since 1968 when he joined Chase Manhattan Bank in New York. During his career, Mr. Isaly has been a pharmaceutical analyst with Chase Manhattan Bank, Merrill Lynch, Legg Mason, and S.G. Warburg. Mr. Isaly launched OrbiMed's asset management business in 1989. Mr. Isaly has a B.A. in Economics from Princeton University and an M.Sc. (Econ.) from The London School of Economics.
Sven H Borho31/03/1995Sven H. Borho CFA, is a founding Partner of OrbiMed. Mr. Borho is a senior member of the public equity team and he is a portfolio manager for OrbiMed's public equity and hedge funds. Mr. Borho has played an integral role in the growth of OrbiMed's asset management activities. Mr. Borho started his career in 1991 when he joined OrbiMed's predecessor firm as a Senior Analyst covering European pharmaceutical firms and biotechnology companies worldwide. Mr. Borho studied business administration at Bayreuth University in Germany and received an M.Sc. (Econ.), Accounting and Finance, from The London School of Economics; he is a citizen of both Germany and Sweden.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Worldwide Healthcare Trust PLC Ord
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price2473.14
CurrencyGBX
Price updated20/11/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJEL
Worldwide Healthcare Trust PLC Sub
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price560
Offer price618
Mid price589
CurrencyGBX
Price updated01/08/2014
Type-
Institutional or retail classRetail
Domicile-
Citi codeI7C5
Data provided by

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