HBM Healthcare Investments - A stellar year to mark 20th anniversary
HBM Healthcare Investments (HBMN) has posted record returns in its 20th anniversary year, with NAV and share price total returns of 52% and 79% respectively in Swiss franc terms for the 12 months ended 31 March 2021, and net assets surpassing CHF2bn for the first time. The fund has evolved from a pure private equity focus to a public-private hybrid, with a large proportion (67%) of its listed portfolio made up of companies that began in the private portfolio but have continued to be held post IPO. Although near-term market conditions for listed healthcare and biotech look more challenging as ‘hot money’ flows out of the sector, HBMN’s science-led investment process and conservative valuation approach should help it build on its long-term record of success as it enters its third decade. A cash distribution of CHF9.50 (+23.4% y-o-y) is supplemented by a special CHF3.00 anniversary payout to reflect the strong FY21.HBM Healthcare Investments is a holding company. Through its subsidiaries, Co. is engaged in the acquisition, holding and sale equity interests in companies in the human medicine, biotechnology, medical technology and diagnostics sectors, and related areas. Co.'s portfolio includes approximately 25 companies.
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