Rated Fund 2013-2018. 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 when it was up against more than 100 trusts from a variety of sectors. It invests in a diversified portfolio of worldwide pharmaceutical, biotechnology and healthcare equipment, technology and services companies. Sven Borho, a founder partner of US-based specialist healthcare fund manager OrbiMed Capital, has run the trust since its inception in 1995. Sam Isaly, co-founder of OrbiMed and the trust's former co-manager alongside Borho, stepped down at the end of 2017. Borho remains supported by a team of 90 investment professionals who carry out extensive research to find potential investments. The manager seeks innovation and growth in the global healthcare industry, and invests 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 2017, pharmaceutical and biotech companies made up the bulk of the portfolio, which consisted of 90 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, but there was also a 13 per cent exposure to emerging markets. Skerritts Wealth Management is a long-term supporter of the trust and points to its record as the best performer across the whole investment trust sector since 1995. Healthcare is a key theme in its portfolios, given the world's ageing population. Shares in the trust have traded on a small double-digit discount over the last three years, but at the end of 2017 were on a very modest premium.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|Alexion Pharmaceuticals Inc||5.74 %|
|Merck & Co Inc||5.09 %|
|Boston Scientific Corp||4.84 %|
|Biogen Inc||4.04 %|
|Vertex Pharmaceuticals Inc||3.18 %|
|Chugai Pharmaceutical Co Ltd||3.04 %|
|Novo Nordisk A/S B||2.96 %|
|Celgene Corp||2.93 %|
|Wright Medical Group NV||2.68 %|
|Edwards Lifesciences Corp||2.49 %|
|United States||78.98 %|
|Europe - ex Euro||6.00 %|
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.
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