The Ucits structured Polar Capital Biotechnology Fund will aim to achieve long-term capital growth by investing in a “globally diversified” portfolio of biotechnology companies.
Polar said the manager, Pinniger, will use a fundamental research-driven approach to construct a portfolio of between 40 and 60 investments, with performance benchmarked against the NASDAQ Biotechnology Index.
Available in sterling, US dollar and euro-denominated share classes, the Dublin domiciled fund has an annual management charge of 1.5% on the retail share class and 1% on the institutional share class.
Pinniger joined Polar Capital’s healthcare team from SV Life Sciences where he was manager of the International Biotechnology Trust for five years. Prior to SV Life Sciences, he spent three years working at venture capital firm Abingworth as an analyst managing biotechnology investments held across the firm’s venture and specialist funds, and four years at Morgan Stanley as an analyst covering the healthcare sector.
Gareth Powell, co-manager of the team’s $550m Healthcare Opportunities Fund (see three year performance chart – right), said Pinniger will be supported by Polar Capital’s existing healthcare team.
“We believe the global biotechnology industry is poised to deliver significant value creation over the coming years driven by a major new innovation cycle,” said Pinniger.
“It is our view that the sector’s stock market resurgence in recent years could be just the start of a multi-year re-rating as this high growth global industry comes of age.”
