Fact sheet: Polar Capital Healthcare Opportunities

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
FO Equity - Pharma Health & Biotech
Fund type
OEIC
Primary aim
No data available.
Why Money Observer Rates Polar Capital Healthcare Opportunities

New for 2017. Taking advantage of diverse sector opportunities

Managed by experienced healthcare specialists Daniel Mahony and Gareth Powell, this fund was set up in 2007. Its objective is to preserve capital and achieve long-term capital appreciation by investing in a globally diversified portfolio of healthcare companies.

The managers stress that healthcare investing is not just about buying drug companies but includes other sectors such as biotechnology, medical devices and healthcare IT. At the end of 2016, nearly a third of fund was invested in the healthcare equipment sector and over a quarter in biotechnology. The majority of its holdings are in the US (79 per cent).

In recent years the managers have been seeking to invest in companies likely to benefit from an ageing population. Ageing populations clearly need more healthcare; the managers point out that this is a problem across all geographical regions, and consequently there are opportunities for investors in drug stocks, biotechnology, medical technology and services, such as hospitals.

At the end of 2016, the healthcare sector was affected by mixed reactions to the election of Donald Trump as US president. The managers felt the result was supportive for innovation, which is a major focus of their investments.

Consequently they shifted the portfolio more in this direction through increased biotech and small and mid-cap exposure and also significantly increased the fund's weighting in health insurance companies. With the need for consolidation across the industry, they also believe 2017 is likely to witness significant merger and acquisition activity in the healthcare sector.

3 Year Performance
Fund Performance23.6%
Average of Rated Funds Group46.9%
Sector Performance4.8%
Fund information
Fund name
Polar Capital Healthcare Opportunities I GBP
Fund manager company
Polar Capital
Fund type
OEIC
Fund managers
  • Gareth Powellsince 30/11/2007
  • Daniel Mahonysince 30/11/2007
Accolades
Fund objective
The Fund aims to preserve capital and achieve long-term growth by investing in a globally-diversified portfolio of companies within the healthcare industry.
Benchmark
  • MSCI ACWI Health Care Index
Investment style
Active,Growth
Investment method
Shares
Quick stats
1 Year return
3.7%
1 Year rank in sector
22/30
Sector
FO Equity - Pharma Health & Biotech
Yield
-
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.
1.16%
Fund size
£1,532m (£1,109m last year)
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.
131
Top in this sector
Fund name1 Year
Variopartner SICAV SeBiOpp33%
Variopartner SICAV MVGbMdtcF22%
CSIF 2CS(L)GblDglHthEq21.7%
GAM Mltstck Hlth InnvtnEqty18.9%
Candriam Eq L Btchnlg17.5%
...more in FO Equity - Pharma Health & Biotech

Performance snapshot

Holdings snapshot

  • USA78.5%
    UK7%
    Germany5.9%
    Switzerland5.4%
    Sweden2%
  • Biotechnology/Medical32.1%
    Pharmaceuticals25.8%
    Health Care23.9%
    Healthcare & Medical Products17.8%
    Money Market0.4%
  • US Equities78.7%
    UK Equities7%
    German Equities5.9%
    Swiss Equities5.4%
    Swedish Equities2%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.5%0.6%0.4%3.7%23.6%139.6%
Sector-2.2%3.7%5.2%7.5%4.8%89.2%
Rank within sector21 / 3124 / 3126 / 3122 / 303 / 271 / 23
Quartile3rd4th4th3rd1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-0.7%13.6%4.6%13.4%34.8%
Sector1.6%14.9%-9.9%7.2%28.1%
Rank within sector23 / 3121 / 305 / 307 / 2711 / 24
Quartile3rd3rd1st2nd2nd
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.
6.92
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.
0.65
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.
0.39
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%.
14.45
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.
11.88
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.
0.45
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.
0.47
Price movement
52 week high32.74
52 week low29.21
Current bid price-
Current offer price-
Current mid price30.86
Region
1USA78.52%
2UK7.02%
3Germany5.94%
4Switzerland5.4%
5Sweden2.01%
6Canada0.7%
7Money Market0.41%
Industry sector
1Biotechnology/Medical32.09%
2Pharmaceuticals25.81%
3Health Care23.92%
4Healthcare & Medical Products17.78%
5Money Market0.41%
Asset type
1US Equities78.7%
2UK Equities7%
3German Equities5.9%
4Swiss Equities5.4%
5Swedish Equities2%
6Canadian Equities0.7%
7Money Market0.3%
Individual holdings
1JOHNSON & JOHNSON9.16%
2NOVARTIS AG5.4%
3UNITEDHEALTH GROUP INC4.08%
4NEKTAR THERAPEUTICS3.75%
5BAYER AG3.74%
6HUMANA INC3.09%
7ALEXION PHARMACEUTICALS INC3.06%
8STRYKER CORP3.02%
9ALNYLAM PHARMACEUTICALS INC3%
Management
Fund manager group
Polar Capital
Fund manager company
Polar Capital
Fund type
OEIC
Fund objective
The Fund aims to preserve capital and achieve long-term growth by investing in a globally-diversified portfolio of companies within the healthcare industry.
Benchmark
  • MSCI ACWI Health Care Index
Investment style
Active,Growth
Investment method
Shares
Fund managers
NameSinceBiography
Gareth Powell30/11/2007Gareth joined Polar Capital in 2007 to set up the healthcare team. Prior to Polar Capital, Gareth worked at Framlington, where he began his career in investment management in 1999. Soon afterwards, he began managing the Framlington Health Fund and in 2002 he helped launch the Framlington Biotech Fund, which he managed from 2004 until his departure. Gareth studied biochemistry at Oxford, during which time he worked at Yamanouchi, a leading Japanese pharmaceutical company (later to become Astellas), as well as various academic laboratories including the Sir William Dunn School of Pathology, the Wolfson Institute for Biomedical Research and Oxford Business School. He is a CFA charterholder.
Daniel Mahony30/11/2007Daniel joined Polar Capital to set up the healthcare team in 2007. Prior to joining Polar Capital, he was head of the European healthcare research team at Morgan Stanley, covering the European biotechnology, medical technology and healthcare services sectors. He also previously worked in New York for ING Barings Furman Selz following the US biotechnology sector. Before working in the investment field, Daniel worked as a research scientist for seven years with the majority of his time at Schering Plough Corporation in California. Daniel received his PhD from Cambridge University in 1995 and a first class honours degree in biochemistry from Oxford University in 1991.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Distributor Status, IA Recognised, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Ireland, Italy, Jersey, Liechtenstein, Luxembourg, Netherlands, Norway, Offshore, Singapore, Sweden
Polar Capital Healthcare Opportunities EUR
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.64%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price23.37
CurrencyEUR
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeBDN1
Polar Capital Healthcare Opportunities GBP
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price20.72
CurrencyGBP
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeBDN0
Polar Capital Healthcare Opportunities I EUR
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.16%
Total expense ratio (TER)1.21%
Bid price-
Offer price-
Mid price34.8
CurrencyEUR
Price updated16/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeGLG7
Polar Capital Healthcare Opportunities I GBP
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)1.16%
Total expense ratio (TER)1.21%
Bid price-
Offer price-
Mid price30.86
CurrencyGBP
Price updated16/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeGLG6
Polar Capital Healthcare Opportunities I USD
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.14%
Total expense ratio (TER)1.21%
Bid price-
Offer price-
Mid price43.33
CurrencyUSD
Price updated16/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeGLG5
Polar Capital Healthcare Opportunities R EUR
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price33.41
CurrencyEUR
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGLH0
Polar Capital Healthcare Opportunities R GBP
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price29.62
CurrencyGBP
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGLG9
Polar Capital Healthcare Opportunities R USD
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.66%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price41.59
CurrencyUSD
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeGLG8
Polar Capital Healthcare Opportunities USD
Initial charge5%
Annual charge1.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.64%
Total expense ratio (TER)1.71%
Bid price-
Offer price-
Mid price29.1
CurrencyUSD
Price updated16/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeBDM9
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.