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 Performance74.6%
Average of Rated Funds Group52%
Sector Performance65.9%
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
34.5%
1 Year rank in sector
2/4
Sector
IT Biotechnology & Healthcare
Yield
0.7%
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.
1%
Fund size
£1,071m
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.
158
Mid price
2302
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.
2360.63
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.
-2.48
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.
106
Top in this sector
Fund name1 Year
Intl Biotechnology Trust42.8%
Wldwide Hlthcare Tst PLC34.5%
PlrCp GblHlthcr G&IPLC29.4%
The Biotech Growth Trust PLC23.8%
BB HlthcareTstPlcRedOrd1P-
...more in IT Biotechnology & Healthcare

Performance snapshot

Holdings snapshot

  • North America64.4%
    Europe15.3%
    Global Emerging Markets13.4%
    Asia6.9%
  • Large Cap Companies71.3%
    Small Cap Companies28.7%
  • North American Equities64.4%
    European Equities15.3%
    Global Emerging Market Equities13.4%
    Asia Pacific Equities6.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.8%10.9%7.8%34.5%74.6%221.2%
Sector0.4%7.7%6.5%33%65.9%192.5%
Rank within sector4 / 51 / 52 / 42 / 42 / 42 / 4
Quartile4th1st2nd2nd2nd2nd
Calendar performance
 YTD - 20172016201520142013
Fund8.7%10.1%13.9%39.6%47%
Sector7.4%6.2%12.7%39.3%43.2%
Rank within sector3 / 52 / 42 / 43 / 43 / 4
Quartile3rd2nd2nd3rd3rd
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.
4.87
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.
0.9
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.
0.85
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%.
19.77
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.
6.49
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.
0.49
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.
0.9
Price movement
52 week high2447
52 week low1698
Current bid price2303
Current offer price2311
Current mid price2302
Region
1North America64.4%
2Europe15.3%
3Global Emerging Markets13.4%
4Asia6.9%
Industry sector
1Large Cap Companies71.3%
2Small Cap Companies28.7%
Asset type
1North American Equities64.4%
2European Equities15.3%
3Global Emerging Market Equities13.4%
4Asia Pacific Equities6.9%
Individual holdings
1WRIGHT MEDICAL GROUP NV4.6%
2MERCK & CO INC(NEW)4.5%
3Boston Scientific Corp ORD4.2%
4ALEXION PHARMACEUTICALS INC3.8%
5ELI LILLY & CO3.6%
6INCYTE CORP3.5%
7BIOGEN INC3.4%
8HCA3.1%
9ROCHE HLDG AG3%
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 has been active in international and healthcare investment throughout his career, beginning at Chase Manhattan Bank. He studied international economics, mathematics and econometrics at Princeton and the London School of Economics. Mr Isaly joined SG Warburg and Company Inc in 1986 where he became a Senior Vice President. In March 1989, he became the initial founding partner of Mehta and Isaly. He became the initial founding partner of OrbiMed Capital LLc, created on January 1, 1998, upon the dissolution of Mehta and Isaly.
Sven H Borho31/03/1995Sven H. Borho, CFA, is a founding General Partner of OrbiMed. Mr. Borho is a portfolio manager for OrbiMed's public equity funds and he heads the firm's trading efforts. He started his career in 1991 when he joined Mehta and Isaly as a Senior Analyst covering European pharmaceutical firms and biotechnology companies worldwide. In 1993, Mr. Borho became portfolio manager to investment funds under management. Mr. Borho studied business administration at Bayreuth University in Germany and received a M. Sc. (Econ.) 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 price2346.64
CurrencyGBX
Price updated22/03/2017
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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