According to the asset manager, the JB Health Opportunities Fund, a UCITS III structure, will invest globally in listed healthcare companies, including emerging-market equities, from all sub-sectors, which include producers, distributors and providers of pharmaceuticals, biotechnology, healthcare services, medical technology and companies active in the areas of specialty pharmaceuticals and generic drugs.
The portfolio includes between 35 and 45 equities. With up to 30% exposure to emerging markets, the fund also invests in traditional pharmaceutical stocks, many of which are currently trading at depressed multiples.
Another theme within the portfolio is investment in the companies which focus on diseases with unmet medical needs.
JB Health Opportunities Fund co-portfolio manager Nathalie Flury said that the global healthcare sector today already accounts for 10-15% of global GDP. Several powerful, global drivers suggest that the sector should become one of the major growth markets in the decades to come, creating a compelling proposition for investors.
"The chief driver is emerging markets, which exhibit strong population growth and increasing wealth, which means more people can afford healthcare. A second driver is the fact that the global population is growing older, leading to increased healthcare spending," Flury said
Co-portfolio manager of the fund Christophe Eggmann said that the company will combine a growth and value approach when picking stocks and analyse companies based on both quantitative and qualitative criteria. This approach enables the fund to capture the potential arising from developments in the healthcare sector.
