Investment Strategy
The fund management invests in global healthcare stocks that generate above-average and sustainable earnings growth over a long period of time. The fund focuses on companies that contribute to significantly improving human health, extending life expectancy and/or reducing healthcare costs. The long-term attractiveness of the healthcare sector is supported by demographics and social change due to the ageing population and rising wealth, especially in emerging countries.
- Investment in global stocks of any company size
- Portfolio of around 35 - 50 stocks
- Active and benchmark-agnostic approach
- Long-term investment horizon
Learn more about our investment philosophy in equity fund management
Fund data
| ISIN | LU2647968655 |
|---|---|
| WKN | A3EQ1Q |
| Inception date | 01.12.2023 |
| Issue price (19.11.2024) | 113.41 EUR |
| Redemption price (19.11.2024) | 108.01 EUR |
| Fund volume | 17.54 Mio. EUR |
| Share class volume | 2.49 Mio. EUR |
| Currency | EUR |
| Minimum investment | - |
| Asset Manager | Joh. Berenberg, Gossler & Co. KG |
| Management company | Universal-Investment-Gesellschaft mbH |
| Custodian | BNP Paribas S.A. Niederlassung Deutschland |
| Use of income | Accumulating |
| End of financial year | 31.12. |
| Registration and Distribution | DE, AT, CH, LU |
| SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
| Issue surcharge | Up to 5.00% |
|---|---|
| Flat-rate fee p.a. | 1.80% |
| Total Expense Ratio (TER) p.a. | 1.90% |
| Performance fee | none |
Chances and risks
| Chances | Risks |
|---|---|
| High return potential of stocks over the long-term | Share value may fall below the purchase price at which the customer acquired the share |
| Development of growth stocks occasionally above average | High susceptibility of shares to fluctuation, price losses possible |
| Development of small cap stocks above average in certain phases | Below-average development of growth stocks possible at times |
| Possible additional earnings through individual value analysis and active management | Below-average development of small stocks possible at times |
| No guarantee of success for individual value analysis and active management | |
| Foreign currency investments and transactions denominated in foreign currencies are subject to exchange rate risks |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Monthly market comment
The US elections, increased geopolitical risks in the Middle East and a mixed earnings season underpin the increasing volatility for the capital markets. The Berenberg Better Health fund underperformed its benchmark slightly in October. Danaher failed to meet investor expectations in the third quarter, as the comments for 2025 were quite cautious, leading to a weak shar price performance. Elevance Health also disappointed with weak quarterly figures and a negative outlook for 2025. Straumann gave up the price gains from the previous month, particularly due to weak performance in North America. By contrast, Intuitive Surgical's shares were significantly rewarded after strong quarterly figures. The company exceeded expectations and saw its share price rise. Neurocrine Biosciences was also among the positive performers, as the growth of Ingrezza significantly exceeded expectations. Boston Scientific impressed with organic growth of over 18% and exceeded the high expectations for the third quarter. Last month, the fund also opened positions in the companies Laboratorios and Biomerieux.
Portfolio Management
Kay Eichhorn-Schott
Kay Eichhorn-Schott has been a Portfolio Manager at Berenberg since October 2017. Kay started his career in the Berenberg International Graduate Program in October 2015 and joined the Wealth and Asset Management division in London after completing the program. He holds a Master of Science in Finance and studied at EBS Business School, University of Bath and Texas A&M University. Kay Eichhorn-Schott is a CFA Charterholder.
CO₂-Intensity
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.