For investors in Hong Kong

Horizon Biotechnology Fund

A fund investing in innovative companies addressing high unmet medical needs or improving the standard of care in the fast-growing biotechnology sector.

ISIN
LU1897414303

NAV
USD 17.70
As of 2023/03/23

1-Day Change
USD 0.07 (0.40%)
 As of 2023/03/23

Morningstar Rating
As of 2023/02/28

Key investment risks:

  • The Fund's investments in equities are subject to equity securities risk due to fluctuation of securities values.
  • Investments in the Fund involve general investment, currency, liquidity, hedging, market, economic, political, regulatory, taxation, securities lending related, reverse repurchase transactions related, financial, interest rate and small/

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  • mid-capitalisation companies related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments (up to 10% of NAV) with the aim of making investment gains, reduce risk and to manage the Fund more efficiently. This may involve counterparty, liquidity, leverage, volatility, valuation and over-the-counter transaction risks and the Fund may suffer significant losses.
  • The Fund’s investments are concentrated in biotechnology or biotechnology-related industry (may include small/ mid capitalization companies). It may be more volatile.
  • The Fund may charge performance fees. An investor may be subject to such fee even if there is a loss in investment capital.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.

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The Fund invests at least 80% of its assets in shares (equities) and equity-related securities of companies, which are biotechnology or biotechnology-related, in any country.

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ABOUT THIS FUND

Experienced and Specialised Investment Team: Dedicated biotechnology specialists with a distinguished record of investing in biotechnology stocks. Team is supported by the larger Janus Henderson health care team.

Differentiated Fundamental Research: Seek to understand the science and the business to identify opportunities and mitigate the clinical and commercial risks inherent in the sector.

Disciplined Investment Process: Balanced across development stage, early commercial and profitable biotechnology companies and augmented by a differentiated Value at Risk Framework designed to mitigate the volatility associated with drug development.

PORTFOLIO MANAGEMENT

Andy Acker, CFA

Andy Acker, CFA

Global Life Sciences | Portfolio Manager

Industry since 1996. Joined Firm in 1999.

Daniel Lyons, PhD, CFA

Daniel Lyons, PhD, CFA

Portfolio Manager | Research Analyst

Industry since 2000. Joined Firm in 2000.

Performance

Discrete Performance (%)
As of 2022/12/31
A2 USD
 
Quarter End
As of 2022/12/31 		Dec-2021 - Dec-2022 Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018
A2 USD -3.78 -5.17 61.32 34.70 -
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Cumulative Performance (%)
As of 2023/02/28
A2 USD
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2018/12/10
A2 USD -3.15 2.55 20.55 -1.15 18.50 59.17 - 81.30
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2022/12/31
A2 USD
2022 2021 2020 2019 2018
A2 USD -3.78 -5.17 61.32 34.70 -7.50
Where the share class of the fund has less than 5 years’ performance history,  the performance figures in the inception year represented the fund’s performance from the share class launch date to 31 December of the corresponding year of inception.
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.20%
Ongoing Charge
(As of 2022/06/30) 		1.86%
Performance Fee 20% of the 'Relevant Amount'
Hurdle Rate NASDAQ Biotechnology Total Return Index
The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2023/02/28)
% of Fund
Sarepta Therapeutics 5.11
Argenx 4.77
Vertex Pharmaceuticals 3.42
BioMarin Pharmaceutical 3.30
Ardelyx 3.07
Amgen 2.99
Apellis Pharmaceuticals 2.77
Ascendis Pharma 2.57
United Therapeutics 2.49
Vaxcyte 2.38
Portfolio holdings are subject to change without notice. 

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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