RENAISSANCE GLOBAL HEALTH CARE FUND $44.77 (CWA Rating: Speculative) (Renaissance Investments, 1500 Robert Bourassa Blvd., Suite 800, Montreal, PQ. H3A 3S6. 1-800-268-8258; Web site: www.renaisanceinvestments.ca. Available from brokers) invests primarily in U.S. companies and global companies with U.S. operations or exposure to U.S. markets or whose securities are traded on a U.S. exchange, which are engaged in the design, development, manufacturing and distribution of products or services in the health care sectors. The fund invests in a diversified portfolio, which will mainly include securities in the medical technology, biotechnology, health care and pharmaceutical sectors.
The fund’s managers are Wellington Management, as well as Jean Hynes, who also manages the huge Vanguard Health Care Fund in the U.S. She looks at a firm’s financial strength, the quality of its management, and potential for new products leading to above-average growth in revenues and earnings.
Top holdings include Bristol Myers Squibb, Allergan plc, Medtronic plc, UnitedHealth Group, AstraZeneca plc, Boston Scientific, Celgene Corp., Regeneron Pharmaceuticals, Johnson & Johnson and Eli Lilly.
The $650.0 million fund is currently invested 79.9% in the U.S., 5.9% in Japan, 5.0% in the U.K., 4.4% in Switzerland, and 1.3% in Denmark.
Renaissance Global Health Care made 9.1% over the last year. The fund’s MER is 3.05%
Renaissance Global Health Care Fund (formerly the Talvest Global Health Care Fund) is still a buy.
This post was originally published in 2008 and is regularly updated.
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