Worldwide Healthcare

Specialist

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.

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Name
Worldwide Healthcare
Manager
Frostrow Capital LLP
Type
Closed Ended Investment Company
ISIN
GB0003385308
Sector
Sector Specialist: Biotechnology & Healthcare
Launched
28/04/1995
OCF
0.91 %
Risk Rating
4
3 Year Sharpe
0.75
3 Year Alpha
1.43
Yield
0.6 %
Benchmark
MSCI World Healthcare Net
Fund Size
£ 1.42 billion
NAV
2,794
Gearing
113
Discount Premium
1
Worldwide Healthcare Trust PLC is a specialist investment trust that invests in the global healthcare sector with the objective of achieving a high level of capital growth. The Company invests worldwide in a diversified portfolio of shares in pharmaceutical and biotechnology companies and related securities in the healthcare sector. The Company uses gearing, and derivative transactions to mitigate risk and also to enhance returns. Performance is measured against the MSCI World Health Care Index on a net total return, GBP adjusted basis.
Holding %
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 %
Region %
United States 78.98 %
Japan 8.78 %
Europe - ex Euro 6.00 %
Sector %
Healthcare 100.00 %
Name
Frostrow Capital LLP
Address
WC2A 1AL, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Trevor Polischuk
Joined 03/31/2015

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 Borho
Joined 02/01/2013

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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