For individual investors in Luxembourg

Global Life Sciences Fund

By understanding the science and business of health care, the strategy invests in companies addressing unmet medical needs or improving health care efficiencies


EUR 41.12
As of 03/12/2021

1-Day Change
EUR -0.59 (-1.41%)
As of 03/12/2021

Morningstar Rating

Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.



The Fund aims to provide capital growth over the long term.
Performance target: To outperform the MSCI World Health Care Index by at least 2% per annum, before the deduction of charges, over any 5 year period.


The Fund invests in shares (also known as equities) of companies, of any size, with a life sciences orientation, in any country.
The Fund may also invest in other assets including cash and money market instruments.
The investment manager may use derivatives (complex financial instruments) to reduce risk, to manage the Fund more efficiently, or to generate additional capital or income for the Fund.
The Fund is actively managed with reference to the MSCI World Health Care Index, which is broadly representative of the companies in which it may invest, as this forms the basis of the Fund’s performance target. The investment manager has discretion to choose individual investments for the Fund with weightings different to the index or not in the index, but at times the Fund may hold investments similar to the index.


The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is for promotional purposes and does not qualify as an investment recommendation.


  • Looks to invest in companies addressing unmet medical needs or making the health care system more efficient
  • Aims to maintain a balanced portfolio across subsectors (pharmaceuticals, biotechnology, health care services, and medical devices)
  • An experienced team of specialists that seeks to understand the science and the business of health care
Past performance is not a guide to future performance. 


Andy Acker, CFA

Global Life Sciences | Portfolio Manager

Industry since 1996. Joined Firm in 1999.


Past performance is not a guide to future performance. All performance data includes both income and capital gains or losses and reflects the deduction of any ongoing charges or other fund expenses.
Discrete Performance (%)
As of 30/09/2021
A2 HEUR (Net) MSCI World Health Care NR Hgd EUR
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Net) 14.15 26.09 -10.66 12.38 9.96
MSCI World Health Care NR Hgd EUR 18.00 - - - -
Sep-2020 - Sep-2021 Sep-2019 - Sep-2020 Sep-2018 - Sep-2019 Sep-2017 - Sep-2018 Sep-2016 - Sep-2017
A2 HEUR (Gross) 16.86 29.11 -8.51 15.10 12.66
MSCI World Health Care NR Hgd EUR + 2.00% 20.36 - - - -
Cumulative & Annualised Performance (%)
As of 31/10/2021
A2 HEUR (Net) MSCI World Health Care NR Hgd EUR
  Cumulative Annualised
1MO YTD 1YR 3YR 5YR 10YR Since Inception
A2 HEUR (Net) 4.32 5.39 21.49 13.52 13.00 15.06 7.21
MSCI World Health Care NR Hgd EUR 4.00 16.81 29.09 - - - -
A2 HEUR (Net) MSCI World Health Care NR Hgd EUR
2016 2017 2018 2019 2020
A2 HEUR (Net) -15.20 17.68 -1.21 23.00 21.17
MSCI World Health Care NR Hgd EUR - - - - 9.44
2016 2017 2018 2019 2020
A2 HEUR (Gross) -13.12 20.57 1.17 25.95 24.06
MSCI World Health Care NR Hgd EUR + 2.00% - - - - 11.63
Initial Charge 5.00%
Annual Charge 1.50%
Ongoing Charge
(As of 30/06/2021)


Top Holdings (As of 31/10/2021)
UnitedHealth Group Inc 4.75
AstraZeneca PLC 4.60
Merck & Co Inc 2.89
Roche Holding AG 2.77
Thermo Fisher Scientific Inc 2.75
Humana Inc 2.66
Abbott Laboratories 2.61
AbbVie Inc 2.56
Boston Scientific Corp 2.34
Danaher Corp 2.30
Total 30.23
Sector Allocation % OF FUND % OF FUND (As of 31/10/2021)
Health Care 99.69
Cash & Equivalents 0.31
Regional Allocations % OF FUND % OF FUND (As of October 31, 2021)
North America 81.43
Europe 16.58
Japan 1.41
Asia/Pacific Ex Japan 0.27
Cash & Equivalents 0.31


  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance is not a guide to future performance.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Shares of small and mid-size companies can be more volatile than shares of larger companies, and at times it may be difficult to value or to sell shares at desired times and prices, increasing the risk of losses.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund is focused towards particular industries or investment themes and may be heavily impacted by factors such as changes in government regulation, increased price competition, technological advancements and other adverse events.
  • The Fund may use derivatives towards the aim of achieving its investment objective. This can result in 'leverage', which can magnify an investment outcome and gains or losses to the Fund may be greater than the cost of the derivative. Derivatives also introduce other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund or you invest in a share class of a different currency to the Fund (unless 'hedged'), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a hedged share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency, the hedging strategy itself may create a positive or negative impact to the value of the Fund due to differences in short-term interest rates between the currencies.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Information on compliance with EU sustainable related disclosures can be found here.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.
  • If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Summary of Investor rights