Edison issues review on Worldwide Healthcare Trus
London, UK, 26 July 2018
Edison issues review on Worldwide Healthcare Trust (WWH)
Worldwide Healthcare Trust (WWH) is managed by Sven Borho and Trevor Polischuk, of OrbiMed, one of the world's leading specialist healthcare investors. The managers are very excited about the prospects for the global healthcare sector for the balance of the year. The threat of regulated drug pricing in the US is abating and the sector is experiencing a period of high innovation, which could lead to the launch of therapies with multi-billion-dollar sales potential. Within the key US market, the regulatory environment is supportive in terms of bringing new products to market, share price valuations are low versus history, and there is a likelihood of increased merger and acquisition (M&A) activity following US tax reform. WWH has a very strong, long-term investment track record. From inception in 1995 until the end of FY18, its average NAV total returns of 15.8% pa are significantly ahead of the benchmark's average total returns of 11.6% pa.
WWH is currently trading at a 1.4% premium to cum-income NAV. This compares to the averages over the last one, three, five and 10 years of a 0.5% premium and discounts of 2.7%, 3.1% and 5.5% respectively. While the trust aims to generate long-term capital growth, it also offers a 0.6% dividend yield.
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