Worldwide Healthcare (WWH) was launched in April 1995. Initially focused on the pharmaceutical industry, it expanded its remit to the entire healthcare sector in 2010. OrbiMed (and its predecessor firm) has been the trust's investment adviser since its IPO with Sven Borho, one of OrbiMed's founders, and Trevor Polischuk taking over as lead managers in 2017 after the departure of Sam Isaly. Up to September 2024, WWH's share price return was 13.6% a year compared to 11.6% for its benchmark and around 9.5% a year for global markets, making WWH one of the top-performing trusts over the last three ...
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Biotech Growth (ticker: BIOG) was launched in 1997. After a promising start, its performance tailed off and this led to the appointment of OrbiMed, the manager of Worldwide Healthcare Trust, as its new investment adviser in 2005. Over the following decade, Biotech Growth steadily outperformed its new benchmark, the Nasdaq Biotechnology Index, but then its shares hit another soft patch and moved sideways for a few years. In late 2019, the trust shifted its portfolio more towards smaller biotech companies and its shares doubled in just over a year, propelled higher by the COVID pandemic. However...
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Worldwide Healthcare Trust is one of the oldest specialist equity trusts. It has been managed by OrbiMed Partners (and its predecessor firm) since it joined the London market in 1995 and it boasts a formidable long-term track record. As of 30 June 2021, it had returned 15.9% annualised compared to 12.2% from the MSCI World Healthcare Index. However, 2021 has been a more difficult year with biotech and Chinese holdings dragging down its performance. Nevertheless, with its shares regularly trading at a premium, it has managed to increase its share count by around 50% in the last few years, takin...
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