HBM Healthcare Investments - Private/public healthcare fund continues to deliver

HBM Healthcare Investments (HBMN) has continued to produce solid NAV and share price performance, buoyed by recent IPOs from its private portfolio (with more expected to come) and a significant revaluation of largest holding Shanghai Cathay R&D. The Switzerland-listed fund holds a blend of private and listed healthcare companies and funds, diversified by geography and clinical focus, and has significantly outperformed the MSCI World Health Care Index over one, three, five and 10 years in both share price and NAV total return terms. Despite also outperforming its peer group average, and offering a c 4% dividend yield, HBMN currently trades on a wider discount to NAV than many of its peers.

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