Polar Capital Global Healthcare Trust plc (PCGH) made its debut on the London Stock Exchange in June 2010, raising £89m from a wide selection of investors.
The Trust was launched as an opportunity to invest in the long-term growth appeal of the global healthcare sector, with a focus on large companies, particularly global pharmaceutical stocks.
PCGH was a more cautious way to invest in the sector, with the Trust holding at least 80% in large, established companies and the freedom to invest across all subsectors globally. Up to 20% could be allocated to smaller, growth companies offering a higher risk/return profile.
The subsectors the Trust looks at include medical services, medical technology and digital healthcare, pharmaceuticals and speciality pharmaceuticals, diagnostics, biotechnology, life science tools and healthcare Insurers.
One result of the corporate action that followed its initial seven-year lifespan, in June 2017, was the investment focus remained with 80% in the more defensive, larger companies though the focus on global pharmaceuticals was amended so that the Trust could take a view on any large company, in any healthcare sector, in any region. In 2018, the 20% allocation was broadened to include both medium and smaller companies, to increase the diversification of PCGH’s investments.
Gareth Powell is Head of Healthcare and one of the original founders of the team, alongside Dr Daniel Mahony, established in 2007. The members of the team have strong contacts with various medical associations and government bodies as well as a network of scientists and doctors to help with their research and understanding future trends of innovation. Some also have experience of working directly in the healthcare industry, giving them an invaluable insight from the other side of the fund management fence. In summary, the Polar Capital Global Healthcare Team are knowledgeable, driven, long-serving and collegiate; a set-up that should give PCGH shareholders confidence in their fund managers and strong reassurance in their abilities and expertise.