Rated Fund 2013-20. Invests 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, no mean feat given that it was up against more than 100 trusts from a variety of sectors.
It invests in a diversified portfolio of pharmaceutical, biotechnology and healthcare equipment, technology and services companies worldwide. Sven Borho, a founder partner of US-based specialist healthcare fund manager OrbiMed Capital, has run the trust since its inception in 1995. He was joined by co-manager Trevor Polischuk in 2017. They are supported by a team of 80 investment professionals.
The managers seek out innovation and growth in the global healthcare industry, and invest in healthcare companies that offer the greatest return potential. Risk is spread through global exposure and diversification across different healthcare sub-sectors.
At the end of 2019 pharmaceutical and biotech companies each accounted for around 30% of the portfolio, which consisted of almost 70 holdings. Most of the top 10 holdings were large, profitable companies, collectively accounting for 40% of assets. Almost 65% was invested in US stocks, but there was 14% in emerging markets, 11% in Europe and 10% in Asia.
Skerritts Wealth Management, a long-term supporter of the trust, praises its record as the best performer across the whole investment trust sector since 1995. Healthcare is a key theme in its portfolios, given the defensive nature of the sector and the ageing of the world’s population.
The board operates an active discount management policy, so shares in the trust typically trade at around the value of underlying assets.
Narrative and ratings content all as of 01 January 2020.See all Money Observer rated funds
|Takeda Pharmaceutical Co Ltd||6.10 %|
|Merck & Co Inc||5.55 %|
|Alexion Pharmaceuticals Inc||4.55 %|
|Novartis AG||4.33 %|
|Boston Scientific Corp||4.21 %|
|Bristol-Myers Squibb Company||3.71 %|
|Vertex Pharmaceuticals Inc||3.40 %|
|Biogen Inc||3.35 %|
|Pfizer Inc||3.16 %|
|Mirati Therapeutics Inc||2.40 %|
|United States||72.12 %|
|Asia - Emerging||8.23 %|
|Europe - ex Euro||7.60 %|
Polischuk joined OrbiMed in 2003 as an analyst covering the major global pharmaceutical industry. Previously, he worked at Lehman Brothers as a senior research analyst covering the U.S. pharmaceutical industry.
Sven 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.
Data provided by Morningstar.
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