UPDATE: In August 2026, Sven Borho retired as lead manager with immediate effect, with Trevor Polischuk stepping up to replace him. Geoff Hsu of Biotech Growth has been appointed as deputy manager.
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 Se...
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UPDATE: BIOG shareholders have endured a volatile ride over the last few years, with a -17% NAV return in the year to March 2023, a 27% gain in 2024, a -24% drop in 2025 then a bumper 73% return in 2026 off the Liberation Day lows. Performance from April to mid-September 2026 has also been strong, with a gain of around 25%. Lead manager Geoff Hsu recently took on an additional role as deputy manager for Worldwide Healthcare, the other UK trust managed by Orbimed.
Biotech Growth (ticker: BIOG) was launched in 1997. After a promising start, its performance tailed off and this led to the appoint...
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UPDATE: A revised version of this profile was published in February 2025.
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 man...
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