Investment Strategy
The fund management invests in global healthcare stocks that generate above-average and sustainable earnings growth over a long period of time. The fund focuses on companies that contribute to significantly improving human health, extending life expectancy and/or reducing healthcare costs. The long-term attractiveness of the healthcare sector is supported by demographics and social change due to the ageing population and rising wealth, especially in emerging countries.
- Investment in global stocks of any company size
- Portfolio of around 35 - 50 stocks
- Active and benchmark-agnostic approach
- Long-term investment horizon
Learn more about our investment philosophy in equity fund management
Fund data
ISIN | LU2647968655 |
---|---|
WKN | A3EQ1Q |
Inception date | 01.12.2023 |
Issue price (16.05.2024) | 114.41 EUR |
Redemption price (16.05.2024) | 114.41 EUR |
Fund volume | 14.52 Mio. EUR |
Share class volume | 3.31 Mio. EUR |
Currency | EUR |
Minimum investment | - |
Asset Manager | Joh. Berenberg, Gossler & Co. KG |
Management company | Universal-Investment-Gesellschaft mbH |
Custodian | State Street Bank International GmbH, Luxembourg Branch |
Use of income | Accumulating |
End of financial year | 31.12. |
Registration and Distribution | DE, AT, CH, LU |
SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
Issue surcharge | Up to 5.00% |
---|---|
Management fee p.a. | 1.75% |
Custodian fee p.a. | 0.10% |
Total Expense Ratio (TER) p.a. | 1.90% |
Performance fee | none |
Chances and risks
Chances | Risks |
---|---|
High return potential of stocks over the long-term | Share value may fall below the purchase price at which the customer acquired the share |
Development of growth stocks occasionally above average | High susceptibility of shares to fluctuation, price losses possible |
Development of small cap stocks above average in certain phases | Below-average development of growth stocks possible at times |
Possible additional earnings through individual value analysis and active management | Below-average development of small stocks possible at times |
No guarantee of success for individual value analysis and active management | |
Foreign currency investments and transactions denominated in foreign currencies are subject to exchange rate risks |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Monthly market comment
After the strong performance since the beginning of the year, the equity markets lost momentum in April. The Berenberg Better Health Fund outperformed the benchmark in April. Astrazeneca's strong quarterly figures were reflected in the positive share price performance. Boston Scientific improved its own profit forecasts for the entire year following good quarterly results. XVIVO Perfusion surprised the market with very strong quarterly figures. The company also presented some clinical study results for its new heart transport device at the ISHLT trade fair, which were also well-received. Intuitive Surgical fell slightly. The quarterly figures were above analysts' expectations. Investor expectations were probably too high in the short term. ChemoMetec disappointed the market with a profit warning. The company's EBITDA target was adjusted downwards by a relatively high single-digit percentage. Disappointing quarterly figures from Sartorius Stedim Biotech led to a share price correction. Following the takeover bid by Johnson & Johnson, we sold our position in Shockwave Medical.
Portfolio Management
Kay Eichhorn-Schott
Kay Eichhorn-Schott has been a Portfolio Manager at Berenberg since October 2017. Kay started his career in the Berenberg International Graduate Program in October 2015 and joined the Wealth and Asset Management division in London after completing the program. He holds a Master of Science in Finance and studied at EBS Business School, University of Bath and Texas A&M University. Kay Eichhorn-Schott is a CFA Charterholder.
Sabrina Bendel
Sabrina Bendel has been Product Specialist for the discretionary Equity Portfolio Management team since April 2017. Before joining Berenberg, she worked in the Asset Management division of Deutsche Bank Group (DWS) since 2014. There, she was responsible for European and German Equity Funds as a Product Specialist. Sabrina Bendel holds a Bachelor of Science in Economics and Business Administration from the University of Hohenheim.
CO₂-Intensity
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.