Report

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.
Underlying
HBM BioVentures

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Sarah Godfrey

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