Potential for further outperformance
HBM Healthcare Investments (HBMN) is a Switzerland-listed closed-end fund investing in listed and private healthcare companies globally. In a volatile stock market environment, the fund has performed strongly in NAV total return terms, rising to the top of its peer group over one and three years. Factors behind the positive performance include strong exits/IPO values from private companies, premium takeovers of listed stocks, good clinical newsflow from some holdings and the lower volatility of private investments. The managers point to approaching clinical catalysts for a number of the top holdings, where early data suggests newsflow may be positive, leading to substantial (although by no means guaranteed) upside potential. The shares currently yield 5.5%.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.
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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