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Opportunistic
Seeks to capitalize on the demographics, globalization, and innovation opportunities in the global-health care market
Best Ideas
Uses in-depth research to create a portfolio with the best ideas from portfolio managers and analysts
Sub-advised by Wellington
Wellington prioritizes independent thought and collaboration across all major asset classes
Objective: Seeks long-term capital appreciation.
Portfolio Management
4
YRS
MANAGING THIS FUND
18
YRS
AT WELLINGTON MANAGEMENT
20
YRS
EXPERIENCE IN THIS INDUSTRY
3
YRS
MANAGING THIS FUND
10
YRS
AT WELLINGTON MANAGEMENT
18
YRS
EXPERIENCE IN THIS INDUSTRY
3
YRS
MANAGING THIS FUND
12
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
Vice President and Global Industry Analyst
0
YRS
MANAGING THIS FUND
1
YRS
AT WELLINGTON MANAGEMENT
18
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception.
Fund Inception: 05/01/2000
Share Class Inception: 8/31/06.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 5/1/00.
Characteristics
FUND STATS
| # of Holdings | 98 |
|---|---|
| % in Equities | 100 |
| % in Foreign Equities | 12 |
| Beta (3 year) | 0.99 |
| R Squared (3 year) | 0.93 |
| Standard Deviation | 14.47% |
| Turnover | 43% |
| Active Share | 45% |
Holdings Characteristics
| FUND | S&P Composite 1500 Health Care Index | |
|---|---|---|
| Price/Earnings | 29.0x | 17.9x |
| Price/Book | 5.6x | 5.2x |
| EPS Growth Rate | 11.7% | 11.3% |
| Asset Weighted Market Cap (billions) | $241.4 | $266.8 |
| Return on Equity | 20.7% | 32.9% |
| Median Market Cap (billions) | $8.4 | $7.0 |
Regional Exposure (%)
Top Ten Holdings (%)
| Eli Lilly & Co. | 13.83 |
| UnitedHealth Group, Inc. | 8.71 |
| Boston Scientific Corp. | 4.67 |
| Intuitive Surgical, Inc. | 4.35 |
| Merck & Co., Inc. | 4.07 |
| Vertex Pharmaceuticals, Inc. | 2.97 |
| Thermo Fisher Scientific, Inc. | 2.82 |
| AbbVie, Inc. | 2.32 |
| Johnson & Johnson | 2.20 |
| Cencora, Inc. | 2.18 |
| Total Portfolio % | 48.12 |
Market Cap Distribution (%)
| Less than $2 billion | 3 | |
| $2 billion - $5 billion | 8 | |
| $5 billion - $10 billion | 8 | |
| Greater than $10 billion | 80 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-3.99 |
|
Down Capture (5 Year)
|
106.83 |
|
Information Ratio (5 Year)
|
-0.88 |
|
Sharpe Ratio (5 Year)
|
0.33 |
|
Up Capture (5 Year)
|
89.63 |
Subsector Exposure (%)
Based on sub-adviser's classification of health care subsectors, which includes combining biotechnology and pharmaceuticals in terms of capitalization: biopharma small-cap, biopharma mid-cap, and biopharma large-cap. Excludes cash. May not total to 100% due to rounding.
Past distributions are not indicative of future distributions.
Insights
Fund Literature
12/31/2024 - PDF (155 KB)
This client flyer summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance
12/31/2024 - PDF (130 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
12/31/2024 - PDF (179 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (110 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
12/31/2024 - PDF (252 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Risks of focusing investments on the healthcare related sector include regulatory and legal developments, changes in funding or subsidies, patent and intellectual property considerations, intense competitive pressures, rapid technological changes, long and costly process for obtaining product approval by government agencies, potential product obsolescence, rising cost of medical products and services, and price volatility risk. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • The securities of large market capitalization companies may underperform other segments of the market. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments.
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