Portfolio Manager Factsheet
The referendum that resulted in U.K.’s decision to leave the EU sent the markets into a June swoon after two very non-volatile months in April and May. Investors turned to a “risk off” strategy, buying defensive names and selling uncertainty. Healthcare stocks performed well during the month. Large cap pharmaceutical stocks were up 11.6%, biotechnology stocks – and their inherent high risk profile – sold off in response to the Brexit outcome.
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.