Portfolio Manager Factsheet
November proved to be a volatile month for global healthcare equities, in particular biotechnology stocks. A sudden shift by investors to a “risk-off” strategy, an uninspiring third-quarter reporting period, and a plethora of late innings uncertainty around the winners and losers on the eve of U.S. tax reform conspired to push biotechnology stocks lower. On-off negative catalysts exacerbated the situation.
Worldwide Healthcare Trust PLC conducts its affairs so that its shares can be recommended by independent financial advisers (IFAs) to retail private investors. The shares are excluded from the Financial Conduct Authority's (FCA's) restrictions which apply to non-mainstream investment products because they are shares in a UK-listed investment trust.