Global Life Sciences

By understanding the science and business of health care, our experienced team seeks to invest in companies addressing unmet medical needs or improving efficiencies

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Overview

ABOUT THIS STRATEGY

We believe in the power of deep, fundamental research to identify life science companies trading at a significant discount to intrinsic value. We feel the quality of our team, the depth of our research and our disciplined long-term approach set us apart in pursuing superior risk-adjusted results for our clients.

INVESTMENT APPROACH

Finding Growth in Health Care
In addition to the powerful demographic trends affecting the sector, health care is experiencing acceleration in innovation. The portfolio seeks to invest in growth companies that are addressing unmet medical needs or making the health care system more efficient and affordable.

Dedicated Sector Experts
Our dedicated team of analysts has 95 years of combined experience investing in health care companies. In this complex and rapidly growing sector, we believe it is critical to have an experienced team that seeks to understand both the science and the business of the companies in which they invest.

Deep and Disciplined
We believe the combination of deep fundamental research and disciplined portfolio construction will lead to consistently strong results relative to both the health care sector and the broader equity market. The portfolio seeks balance across the subsectors of health care and to diversify across market-cap segments and geographies.

Featured Insight

Equity Perspectives

Quarterly insight from our Equity team to help clients navigate the markets and opportunities ahead.

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Featured Insight

Invest in the Power of Disruption

Disruption is rippling through the global economy, and the pace of change is accelerating. Change and innovation are always present, but read more to learn why today is different.

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PORTFOLIO MANAGEMENT

Andy Acker, CFA

Andy Acker, CFA

Portfolio Manager

Industry since 1996. Joined Firm in 1999.

Performance

RETURNS (%) (As of 06/30/2020)
Composite Gross Composite Net MSCI World Health Care Index (Gross)
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1999)
Composite Gross 21.99 4.89 16.60 13.37 7.31 19.30 12.55
Composite Net 21.81 4.56 15.86 12.65 6.62 18.52 11.48
MSCI World Health Care Index (Gross) 14.71 1.74 14.46 10.37 7.31 14.21 7.00
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
Prior to 2008, net returns shown are net of all fees and expenses.
For a complete list of holdings as of the most recently available disclosure period, contact us.
RETURNS (%) (As of 08/31/2020)
Composite Gross Composite Net MSCI World Health Care Index (Gross)
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/1999)
Composite Gross 8.33 11.17 28.05 14.48 9.31 19.66 12.75
Composite Net 8.16 10.70 27.23 13.74 8.61 18.89 11.69
MSCI World Health Care Index (Gross) 4.92 8.16 23.00 12.22 9.38 14.78 7.25
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. Composite returns are net of transaction costs and gross of non-reclaimable withholding taxes (if any and unless otherwise noted), and reflect the reinvestment of dividends and other earnings.
The gross performance results presented do not reflect the deduction of investment advisory fees. Returns will be reduced by such advisory fees and other expenses as described in the individual contract and, where applicable, Form ADV Part 2A.
Net performance results do not reflect the deduction of investment advisory fees actually charged to the accounts in the composite but do reflect the deduction of model investment advisory fees based on the maximum fee rate in effect for the respective time period, adjusted for performance-based fees where applicable. Actual advisory fees may vary among clients invested in the strategy and may be higher or lower than model fees. Returns for each client will be reduced by such fees and expenses as described in the individual contract and, where applicable, in Form ADV Part 2A.
Prior to 2008, net returns shown are net of all fees and expenses.
For a complete list of holdings as of the most recently available disclosure period, contact us.

Documents

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