HBM Healthcare Investments - Looking ahead to renewed opportunities
HBM Healthcare Investments (HBMN) posted its first NAV loss in a decade for FY22 (ended 31 March), but, as shown in the chart below, its long-term performance record remains very impressive. The recent fall in the share price from a premium to a discount to NAV (10.0% at 20 May) could present an opportunity for long-term investors who, like HBMN’s management team, remain convinced of the long-term opportunities afforded by careful investment in the healthcare and biotechnology space. HBMN is unusual among its peers in offering a portfolio made up of private companies, listed equities and funds, broadly spread by geography and clinical focus, with a high distribution policy (current yield of 3.8%).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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