Portfolio Manager Factsheet
Underperformance this month was largely attributable to a significant and broad sell off in healthcare, particularly biotechnology and pharmaceutical stocks due to concerns over the results of the looming U.S. Presidential election. Amgen sold off 10% in one day after the company said that they could no longer raise the price for their rheumatology agent, Enbrel (etancercept).
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.