Fund Overview

Investment Objective

The Fund aims to achieve long-term capital appreciation by investing in a globally diversified portfolio of healthcare companies.

Investment Philosophy

The Fund Manager’s philosophy is that an ageing population, macroeconomic pressures and rapidly evolving technology are combining to drive significant structural transformation within global healthcare systems over, at least, the next decade.

The Polar Capital Healthcare Blue Chip Fund is a concentrated portfolio of 25-40 large-cap healthcare stocks. The team would expect at least 80% of the assets to be invested in companies with a market capitalisation >$10 billion, and for all stocks in the portfolio to have a market capitalisation >$5 billion at the time of investment. The potential investment is 264 companies (as at 30 June 2020) across all four healthcare sub-sectors; pharmaceutical, biotechnology, service and medical technology.

Key Facts

Team of 6 sector specialists
Team with 130+ years of combined industry experience
Typically 25‑40 large-cap stocks
No benchmark or tracking error constraints
Fundamentally-driven analysis and stock selection

Fund Managers

James Douglas, PhD

Fund Manager

Gareth Powell, CFA

Co-head of Healthcare

Daniel Mahony, PhD

Co-head of Healthcare

David Pinniger, CFA

Fund Manager

Deane Donnigan, PharmD

Fund Manager

Damiano Soardo, CFA

Investment Analyst

James Douglas, PhD

James joined Polar Capital in September 2015 and is a Fund Manager for the Healthcare team. He was appointed Co-Fund Manager for the Polar Capital Global Healthcare Trust in May 2017.

Prior to joining Polar Capital, James worked in equity sales specialising in global healthcare at Morgan Stanley, RBS and HSBC. James also has equity research experience garnered from his time at UBS, where he worked as an analyst in the European pharmaceutical and biotechnology team. Before moving across to the financial sector, he worked as a consultant for EvaluatePharma.

Academic qualificationsPhD and BA (1st Class Hons) in Medicinal Chemistry, Newcastle University
Professional qualificationsACCA diploma in financial management (DipFM)
Industry experience22 years

Gareth Powell, CFA

Gareth joined Polar Capital in 2007 to set up the Healthcare team. Prior to Polar Capital, Gareth worked at Framlington, where he began his career in investment management in 1999. Soon afterwards, he joined the Healthcare Team in 2001 and helped launch the Framlington Biotech Fund, which he managed from 2004 until his departure.

Gareth studied biochemistry at Oxford, during which time he worked at Yamanouchi, a leading Japanese pharmaceutical company (later to become Astellas). As well as this, Gareth worked for the Oxford Business School and various academic laboratories including the Sir William Dunn School of Pathology and the Wolfson Institute for Biomedical Research.

Academic qualificationsMBiochem in Biochemistry, University of Oxford
Professional qualificationsCFA Charterholder
Industry experience22 years

Source & Copyright: CITYWIRE. Gareth Powell has been awarded a Plus rating by Citywire for his 3 year risk-adjusted performance for the period 30/04/2018 - 30/04/2021.

Daniel Mahony, PhD

Daniel joined Polar Capital to set up the Healthcare team in 2007. Prior to joining Polar Capital, he was head of the European healthcare research team at Morgan Stanley, covering the European biotechnology, medical technology and healthcare services sectors.

Previously, Daniel worked in New York for ING Barings Furman Selz following the US biotechnology sector. Before working in the investment field, Daniel worked as a research scientist for seven years with the majority of his time at Schering Plough Corporation in California.

Academic qualificationsBA (1st Class Hons) in Biochemistry, University of OxfordPhD in Developmental Biology, University of Cambridge
Industry experience29 years

David Pinniger, CFA

David joined Polar Capital in August 2013 as a portfolio manager within the Healthcare team, to launch the Polar Capital Biotechnology Fund. Prior to joining Polar Capital, David was portfolio manager of the International Biotechnology Trust at SV Life Sciences.

Previously, David 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 European pharmaceuticals and biotechnology sector.

Academic qualificationsBA (1st Class Hons) in Human Sciences, University of Oxford
Professional qualificationsCFA Charterholder
Industry experience20 years

Source & Copyright: CITYWIRE. David Pinniger has been awarded an AA rating by Citywire for his 3 year risk-adjusted performance for the period 30/04/2018 - 30/04/2021.

Deane Donnigan, PharmD

Deane joined Polar Capital in June 2013 as a senior analyst for the Healthcare team, and has over 36 years’ industry experience, including over 15 years within healthcare asset management. She trained as a clinical pharmacist, graduating with a post baccalaureate Doctor of Pharmacy from the University of Georgia.

Deane began her career at the Medical College of Georgia, before becoming a clinical specialist in Drug Information and Adult Internal Medicine with Emory University Hospital in Atlanta, Georgia. After several years, she moved to the UK to join Framlington (now AXA Framlington) applying her extensive pharmaceutical expertise working as an analyst for the healthcare unit trust, led by Anthony Milford. She went on to become lead portfolio manager of the Framlington Healthcare and Framlington Biotechnology funds. Deane is both a US and UK citizen.

Academic qualificationsDoctor of Pharmacy (PharmD), Clinical Pharmacy, University of Georgia in conjunction with the Medical College of Georgia
Professional qualificationsBoard certified and licensed pharmacist, ACCP board certified pharmacotherapy specialist, IMRO qualified
Industry experience36 years

Damiano Soardo, CFA

Damiano joined the Polar Capital Healthcare team as an investment analyst in October 2020. He started at the company in 2016 as part of the Operations team before moving to the Risk team in 2019. Prior to joining Polar Capital, he worked as a technical consultant at a fintech company. Damiano has an MSc in Mathematics and Foundations of Computer Science from the University of Oxford and is a CFA charterholder.

Academic qualificationsMSc in Mathematics and Foundations of Computer Science, University of Oxford
Professional qualificationsCFA Charterholder
Industry experience5 years

Related Insights

Global Healthcare

Are the underlying investment themes in healthcare accelerating?

Gareth Powell, James Douglas

12 Mar 2021

Global Healthcare

Necessary changes in global healthcare systems bring long-term investor opportunities

Gareth Powell, Daniel Mahony

5 Jan 2021

Global Healthcare

Covid vaccine and the next steps for healthcare

Deane Donnigan, Gareth Powell, Daniel Mahony

12 Nov 2020

Global Healthcare

COVID-19: A positive catalyst for change

James Douglas

27 Oct 2020

Countries in which this fund is available

Please click on each country to see share class availability

Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Healthcare Blue Chip Fund (the “Fund”) is a sub-fund of Polar Capital Funds plc which is authorised by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. 352/2011), as amended. This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.

Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Benchmark: The Fund is actively managed and uses the MSCI AC World Daily Total Return Net Health Care Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found www.mscibarra.com. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

Source & Copyright: ©2021 Morningstar. All Rights Reserved. Rating representative of the I USD Acc Share Class, as at 30/04/2021. Ratings may vary between share classes. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about the Morningstar Rating or Morningstar Analyst rating, including its methodology, please go to: http://corporate1.morningstar.com/AnalystRating/.

Performance (%)

Change

Cumulative Performance (%)

								Since Launch
	1m	3m	YTD	1yr	3yrs	5yrs	10yrs	Cumulative	Annualised
US$ Class I Acc	0.81	8.09	9.10	18.56	45.35	66.19	-	75.00	8.69
Index	2.17	8.66	6.72	19.07	52.45	75.41	-	87.24	9.79

Source: Northern Trust International Fund Administration Services (Ireland) Ltd, monthly percentage growth, US$ and has been calculated to account for the deduction of fees. Fund performance does not take account of any commissions or costs incurred by investors when subscribing for or redeeming shares. The US$ Class I Acc was launched on 12 September 2014. The index performance figures are sourced from Bloomberg and are in US$ terms. These figures refer to the past. Investments in funds are subject to risk. Past performance is not a reliable indicator of future returns. The money invested in a fund can increase and decrease in value and past performance is not a reliable indicator that you will get back the full amount invested. The performance calculation is based on US$. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.

12 months to	28.05.21	29.05.20	31.05.19	31.05.18	31.05.17
US$ Class I Acc	18.56	19.61	2.49	5.99	7.88
Index	19.07	23.07	4.03	6.90	7.63

Countries in which this fund is available

Please click on each country to see share class availability

Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Healthcare Blue Chip Fund (the “Fund”) is a sub-fund of Polar Capital Funds plc which is authorised by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. 352/2011), as amended. This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.

Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Benchmark: The Fund is actively managed and uses the MSCI AC World Daily Total Return Net Health Care Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found www.mscibarra.com. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.

Performance: The performance shown has been calculated to account for the deduction of fees and expenses and includes the reinvestment of dividends and capital gain distributions. £ or GBP/US$/JPY/EUR/CHF = Currency abbreviations of: British Pound sterling/US Dollar/Japanese Yen/Euro/Swiss Franc, respectively.

Risk: Factors affecting fund performance may include changes in market conditions (including currency risk) and interest rates, as well as other economic, political, or financial developments. The Fund’s investment policy allows for it to enter into derivatives contracts. Leverage may be generated through the use of such financial instruments and investors must be aware that the use of derivatives may expose the Fund to greater risks, including, but not limited to, unanticipated market developments and risks of illiquidity, and is not suitable for all investors. Past performance is not a guide to or indicative of future results. Future returns are not guaranteed and a loss of principal may occur. Polar Capital may also receive a performance fee based on the appreciation in the NAV per share and accordingly the performance fee will increase with regard to unrealised appreciation, as well as realised gains. The performance fee may create an incentive for Polar Capital to make investments for Polar Capital Funds plc which are riskier than would be the case in the absence of a fee based on the performance of Polar Capital Funds plc.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

Top 10 Positions (%)

Johnson & Johnson	7.6
AstraZeneca	4.8
Bio-Rad Laboratories	4.3
Sanofi	4.2
Bristol Myers Squibb	4.1
Amgen	3.7
Baxter International	3.5
Koninklijke Philips	3.4
Alcon	3.2
Siemens Healthineers AG	3.1
Total

Market Capitalisation Exposure (%)

	Large Cap (>US$10 billion)	78.3
	Mid Cap (US$5 billion - US$10 billion)	16.0
	Small Cap (<US$5 billion)	0.0
	Cash	5.7

	Fund	Relative
Biotechnology	22.2	8.4
Pharmaceuticals	21.4	-15.5
Healthcare Equipment	19.3	-0.7
Life Sciences Tools & Services	9.0	0.0
Managed Healthcare	7.6	-0.6
Healthcare Supplies	4.9	2.2
Healthcare Facilities	4.3	2.7
Healthcare Technology	3.2	1.0
Metal & Glass Containers	2.5	2.5
Healthcare Distributors	0.0	-1.4
Healthcare Services	0.0	-4.3
Cash	5.7	5.7


United States	65.1
Netherlands	5.9
United Kingdom	4.8
France	4.2
Germany	3.8
Switzerland	3.2
Denmark	2.5
Australia	2.2
Sweden	1.8
Japan	0.7
Cash	5.7

Note: Totals may not sum due to rounding.

It should not be assumed that recommendations made in future will be profitable or will equal performance of the securities in this document. A list of all recommendations made within the immediately preceding 12 months is available upon request.

Countries in which this fund is available

Please click on each country to see share class availability

Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Healthcare Blue Chip Fund (the “Fund”) is a sub-fund of Polar Capital Funds plc which is authorised by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. 352/2011), as amended. This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.

Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.

Holdings: Portfolio data is “as at” the date indicated and should not be relied upon as a complete or current listing of the holdings (or top holdings) of the fund. The holdings may represent only a small percentage of the aggregate portfolio holdings, are subject to change without notice, and may not represent current or future portfolio composition. Information on particular holdings may be withheld if it is in the fund’s best interest to do so. A historic complete list of the portfolio holdings may be made available upon request. It should not be assumed that recommendations made in future will be profitable or will equal performance of the securities in this document. A list of all recommendations made within the immediately preceding 12 months is available upon request. This document is designed to provide updated information to professional investors to enable them to monitor the Fund. No other persons should rely upon it. The information provided in this document should not be considered a recommendation to purchase or sell any particular security.

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Benchmark: The Fund is actively managed and uses the MSCI AC World Daily Total Return Net Health Care Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found www.mscibarra.com. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.

Allocations: The strategy allocation percentages set forth in this document are estimates and actual percentages may vary from time-to-time. The types of investments presented herein will not always have the same comparable risks and returns. Please see the private placement memorandum for a description of the investment allocations as well as the risks associated therewith. Please note that the Fund may elect to invest assets in different investment sectors from those depicted herein, which may entail additional and/or different risks. Performance of the Fund is dependent on the Investment Manager’s ability to identify and access appropriate investments, and balance assets to maximize return to the Fund while minimizing its risk. The actual investments in the Fund may or may not be the same or in the same proportion as those shown herein.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

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Investment Insights

James Douglas, PhD

Fund Manager

James studied medicinal chemistry and has worked in healthcare, in sales, research and fund management, throughout his career

Full biography

David Pinniger, CFA

Fund Manager

David is experienced as an analyst, investment manager and fund manager across the pharmaceutical and biotechnology sectors

Full biography

Deane Donnigan, PharmD

Fund Manager

A clinical pharmacist as well as a Doctor of Pharmacy and fund manager, Deane has more than 30 years' industry experience

Full biography

Countries in which this fund is available

Please click on each country to see share class availability

Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Healthcare Blue Chip Fund (the “Fund”) is a sub-fund of Polar Capital Funds plc which is authorised by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities under the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. 352/2011), as amended. This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.

Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Forecasts: References to future returns are not promises or estimates of actual returns Polar Capital may achieve, and should not be relied upon. The forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. Forecasts are based upon subjective estimates and assumptions about circumstances and events that may not yet have taken place and may never do so.

Statements/Opinions/Views: All opinions and estimates constitute the best judgment of Polar Capital as of the date hereof, but are subject to change without notice, and do not necessarily represent the views of Polar Capital. This material does not constitute legal or accounting advice; readers should contact their legal and accounting professionals for such information. All sources are Polar Capital unless otherwise stated.

Benchmark: The Fund is actively managed and uses the MSCI AC World Daily Total Return Net Health Care Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found www.mscibarra.com. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

Fund Literature

Key Fund Literature

Fund Supplement - Healthcare Blue Chip

09 Mar 2021

Circular MA Amendment Appointment of ManCo

06 May 2021

Reportable Income - Polar Capital Funds plc

31 Dec 2019

Countries in which this fund is available

Please click on each country to see share class availability

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

Codes & Fees

Institutional shares

	Bloomberg	ISIN	SEDOL	OCF
US$ Class I Acc	PCFIUSA ID	IE00BPRBXQ74	BPRBXQ7	0.96%	-
US$ Class I Dist	PCFIUSD ID	IE00BPRBXP67	BPRBXP6	0.96%	-
GBP Class I Acc	PCFIGBA ID	IE00BPRBXV28	BPRBXV2	0.96%	-
GBP Class I Dist	PCFIGBD ID	IE00BPRBXT06	BPRBXT0	0.96%	-
EUR Class I Acc	PCFIEUA ID	IE00BPRBXS98	BPRBXS9	0.96%	-
EUR Class I Dist	PCFIEUD ID	IE00BPRBXR81	BPRBXR8	0.96%	-

OCF is correct as at the date of the latest published KIID.

Minimum investment

US$

or its foreign currency equivalent.

Annual management fee

0.85%

Performance fee

10%

Performance fee based on outperformance of index.

Countries in which this fund is available

Please click on each country to see share class availability

Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.

Country Specific Disclaimers: It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor Polar Capital Funds plc shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of Polar Capital Funds plc or share class is available in all jurisdictions.

The Fund is registered for sale to all investors in the countries listed above. Investors should make themselves aware of the relevant financial, legal and tax implications if they choose to invest.

Polar Capital Funds plc - Healthcare Blue Chip Fund	549300ERXLM8TOFA2G98
Polar Capital Funds plc	AC04XZR030XL8IH7BK98
Polar Capital LLP	4YW3JKTZ3K1II2GVCK15

Regional

Thematic & Sector

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Investment Trusts

Healthcare Blue Chip Fund

Focussing on winners from structural transformation in the healthcare sector

Fund Overview

Investment Objective

Investment Philosophy

Key Facts

Fund Managers

James Douglas, PhD

Gareth Powell, CFA

Daniel Mahony, PhD

David Pinniger, CFA

Deane Donnigan, PharmD

Damiano Soardo, CFA

James Douglas, PhD

James joined Polar Capital in September 2015 and is a Fund Manager for the Healthcare team. He was appointed Co-Fund Manager for the Polar Capital Global Healthcare Trust in May 2017.

Gareth Powell, CFA

Daniel Mahony, PhD

Daniel joined Polar Capital to set up the Healthcare team in 2007. Prior to joining Polar Capital, he was head of the European healthcare research team at Morgan Stanley, covering the European biotechnology, medical technology and healthcare services sectors.

David Pinniger, CFA

David joined Polar Capital in August 2013 as a portfolio manager within the Healthcare team, to launch the Polar Capital Biotechnology Fund. Prior to joining Polar Capital, David was portfolio manager of the International Biotechnology Trust at SV Life Sciences.

Deane Donnigan, PharmD

Damiano Soardo, CFA

Related Insights

Are the underlying investment themes in healthcare accelerating?

Necessary changes in global healthcare systems bring long-term investor opportunities

Covid vaccine and the next steps for healthcare

COVID-19: A positive catalyst for change

Countries in which this fund is available

Fund Performance

Cumulative Performance (%)

Discrete Annual Performance (%)

Countries in which this fund is available

Portfolio Exposure

Top 10 Positions (%)

Market Capitalisation Exposure (%)

Sector Exposure (%)Top Overweights & Underweights Relative to Index

Geographic Exposure (%)

Countries in which this fund is available

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Investment Insights

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Fund Literature

Key Fund Literature

Fact Sheet History

Regulatory Documents

Tax & Distribution Reporting

Report & Accounts

Corporate Documents

Further Literature

Dealing Forms

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Codes & Fees

Legal Entity Identifier (LEI)

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Terms and Conditions

Regional

Thematic & Sector

Alternative

Investment Trusts