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Investment portfolio

Bellevue Healthcare Trust explained in 90 Seconds

Bellevue Healthcare Trust explained in 90 Seconds

Concentrated high-conviction portfolio that provides access to the global, high-growth healthcare market

Focus on companies that are making a significant contribution to the improvement of the healthcare system 

The best of both worlds: Growth market and an attractive dividend yield of 3.5%

Indexed performance (as at: 20.11.2024)

Share price: GBp 130.80 (19.11.2024)

NAV: GBp 145.44 (19.11.2024)


01 Jan 2010 - 01 Jan 2010
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Share price
NAV
Benchmark

Rolling performance (20.11.2024)

Share priceNAVBenchmark
19.11.2023 - 19.11.20246.11%4.89%8.16%
19.11.2022 - 19.11.2023-15.76%-9.25%-4.29%
19.11.2021 - 19.11.2022-16.30%-11.59%9.43%
19.11.2020 - 19.11.202115.29%15.05%18.13%

Annualized performance (20.11.2024)

Share priceNAVBenchmark
1 year6.11%4.89%8.16%
3 years-9.22%-5.58%3.94%
5 years2.32%4.44%8.17%
Since Inception p.a.6.76%8.15%9.94%

Cumulative performance (20.11.2024)

Share priceNAVBenchmark
1M-10.16%-8.95%-6.06%
YTD-13.71%-9.10%4.30%
1 year6.11%4.89%8.16%
3 years-25.19%-15.84%12.31%
5 years12.17%24.29%48.10%
Since Inception68.49%86.73%112.92%

Annual performance

Share priceNAVBenchmark
20236.96%2.39%-1.65%
2022-20.97%-11.13%5.82%
202116.56%15.20%20.83%
202029.13%25.70%10.29%

Investment Focus

Bellevue Healthcare Trust intends to invest in a concentrated portfolio of listed or quoted equities in the global healthcare industry. The investable universe for the fund is the global healthcare industry including companies within industries such as pharmaceuticals, biotechnology, medical devices and equipment, healthcare insurers and facility operators, information technology (where the product or service supports, supplies or services the delivery of healthcare), drug retail, consumer healthcare and distribution. There are no restrictions on the constituents of the funds portfolio by index benchmark, geography, market capitalisation or healthcare industry sub-sector. Bellevue Healthcare Trust will not seek to replicate the benchmark index in constructing its portfolio. The fund takes ESG factors into consideration while implementing the aforementioned investment objectives.Show moreShow less

Investment suitability & Risk

SRI

Low risk

High risk

The investment company’s objective is to generate attractive and competitive capital growth in the long term. It is therefore particularly suited to investors with an investment horizon of at least 5 years, who want to selectively diversify their portfolio with investments in the healthcare sector, and who are willing to accept the equity risks typical of this sector.

General Information

Investment ManagerBellevue Asset Management (UK) Ltd.
CustodianCaceis Bank Luxembourg, London Branch
Fund AdministratorNSM Funds (UK) Limited
AuditorErnst & Young LLP
Launch date01.12.2016
Year end closing30. Nov
Cut of time17:00 UK time
Management Fee0.95%
ISIN numberGB00BZCNLL95
BloombergBBH LN Equity

Legal Information

Legal formUK Investment Trust (plc)
SFDR categoryArticle 8

Key data (31.10.2024, base currency GBP)

Beta1.42
Volatility29.02
Tracking error22.87
Active share80.44
Correlation0.64
Sharpe ratio-0.10
Information ratio-0.27
Jensen's alpha-8.00
No. of positions33

Top 10 positions

UnitedHealth Group
CareDx
Intuitive Surgical
Tandem Diabetes Care
Exact Sciences
Inspire Medical Systems
Castle Biosciences
Axsome Therapeutics
Verona Pharma
Sarepta Therapeutics
8.2%
7.3%
5.2%
5.1%
4.6%
4.3%
4.2%
4.2%
4.1%
3.9%

Market capitalization

Small-Cap
Mid-Cap
Large-Cap
Mega-Cap
19.5%
38.7%
23.6%
18.2%

Geographic breakdown

United States
China
Denmark
97.8%
1.5%
0.7%

Breakdown by sector

Focused Therapeutics
Med-Tech
Diagnostics
Health Tech
Managed Care
Services
Tools
Healthcare IT
Distributors
27.0%
18.5%
17.2%
9.3%
9.3%
8.6%
5.4%
3.7%
1.0%

Benefits

  • Healthcare has a strong, fundamental demographic-driven growth outlook.
  • The fund has a global and unconstrained investment remit.
  • It is a concentrated high conviction portfolio.
  • The fund offers a combination of high quality healthcare exposure and a targeted 3.5% dividend yield.
  • Bellevue Healthcare Trust has a strong board of directors and relies on the experienced management team of Bellevue Asset Management (UK) Ltd

Risks

  • The fund actively invests in equities. Equities are subject to strong price fluctuations and so are also exposed to the risk of price losses.
  • Healthcare equities can be subject to sudden substantial price movements owning to market, sector or company factors.
  • The fund invests in foreign currencies, which means a corresponding degree of currency risk against the reference currency.
  • The price investors pay or receive, like other listed shares, is determined by supply and demand and may be at a discount or premium to the underlying net asset value of the Company.
  • The fund may take a leverage, which may lead to even higher price movements compared to the underlying market.
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  • Co-Portfolio Manager

    Paul Major

    Paul Major has been serving as Portfolio Manager at Bellevue Asset Management (UK) Ltd since 2016. His previous roles include Research Partner at Redburn and Analyst at UBS Warburg. He holds a Master's degree in Biochemistry from the University of Bath, UK.

  • Co-Portfolio Manager

    Brett Darke

    Brett Darke has 21 years experience including 11 years covering healthcare and the wider lifesciences sector on the buy-side at TT International, on both long-only and long/short funds. Brett previously worked for five years in corporate finance at Merrill Lynch and Bear Stearns. He holds a Masters degree in Medicine and Management studies from Cambridge University and is a CFA charterholder.
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