Polar to list £100m healthcare fund

19th Apr 2010 10:22

Fund manager Polar Capital plans to launch a £100m healthcare fund and list it on the London Stock Exchange.The group said the Polar Capital Global Healthcare Growth and Income Trust (PCGH) is expected to start trading on the London market by the end of June 2010."We believe that the healthcare sector now offers an excellent opportunity for investors. It is now significantly undervalued and under-owned by most generalist investors, with a shadow cast over the sector from the US healthcare reform debate," said Daniel Mahony and Gareth Powell, Fund Managers of PCGH."The Pharmaceutical sector has suffered a decade long P/E decline which we see reaching an inflection point in the next five years. Consequently, we intend to establish PCGH to take advantage of these opportunities now and to aim to provide a sustainable and growing dividend with exposure to the higher growth sectors of healthcare."Matrix Corporate Capital has been appointed as broker and financial adviser.