Worldwide Healthcare Trust PLC Edison issues review on Worldwide Healthcare Trust
January 12 2023 - 7:17AM
RNS Non-Regulatory
TIDMWWH
Worldwide Healthcare Trust PLC
12 January 2023
London, UK, 12 January 2023
Worldwide Healthcare Trust (WWH): Sticking to the successful
long-term strategy
Worldwide Healthcare Trust's two co-managers, Sven Borho and
Trevor Polischuk at specialist investor OrbiMed, remain positive on
the prospects for the global healthcare industry. This view is
based on favourable company fundamentals, increased clarity on US
drug pricing and an upturn in merger and acquisition activity, as
pharma companies are using their strong balance sheets to bolster
their product pipelines. The trust's portfolio remains skewed to
emerging (smaller-cap) biotech and emerging market stocks rather
than large-cap pharma companies. While this strategy has been
detrimental to WWH's relative performance in recent quarters, this
active approach has been successful over the longer term.
WWH's 6.1% share price discount to cum-income NAV compares with
a 1.2% premium to a 10.6% discount over the last 12 months. It
compares with the average discounts of 6.6%, 2.0%, 1.0% and 2.4%
over the last one, three, five and 10 years, respectively. If the
trust's relative performance improves, there is potential for a
higher valuation; prior to Q121 WWH's shares regularly traded close
to NAV.
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