HealthInvest Small & MicroCap Fund is closed for trading on January 1, 6 and 18 due to Swedish and American Holidays.

HealthInvest Partners AB has decided to invest SEK5m in HealthInvest Small & MicroCap Fund. The investment will take effect on 30 March 2020.

Markus Wistrand, Managing Director: ’We want to inform our co-investors about our future transactions in the fund. By doing so, our clients can make a similar move if they so choose.’

Anders Hallberg, Chief Investment Officer: ‘HealthInvest Small & MicroCap Fund has now a record low valuation of around 9x free cash flow. This may be compared to the valuation of the general stock market which is around 17x (MSCI World). Hence, the Fund’s holdings could rise 90%, yet still only trade in line with the overall stock market.’

Anders Hallberg continues: ‘We actually feel good about investing in the Fund even in the event of a possible recession due to the COVID-19 lockdowns. As you probably know, the healthcare sector is relatively insensitive to economic cycles. For example, in the great recession of 2008-2009, companies on average lost 30% of their profits. In contrast, healthcare companies grew profits by 5%.’

HealthInvest Small & MicroCap Fund (“the Fund”) is managed by HealthInvest Partners AB. The Fund is pursuant to the Swedish Mutual Funds Act (2004:46).

It is the responsibility of each and every person interested in investing in HealthInvest Small & MicroCap Fund to ensure that the investment takes place in accordance with applicable laws and other regulations. Foreign law may entail that an investment cannot be made by an investor from outside Sweden. HealthInvest Partners AB has no responsibility whatsoever to verify whether an investment made from outside Sweden takes place in accordance with the laws of the relevant country. Disputes or claims concerning the Fund shall be resolved according to Swedish law and exclusively by Swedish courts of law.

There is no guarantee that an investment in HealthInvest Small & MicroCap Fund cannot result in a loss. This applies irrespective of otherwise positive performance on the financial markets. Past performance is no guarantee of future results. Funds invested in HealthInvest Small & MicroCap Fund may increase as well as decrease in value, and there is no certainty that persons who invest in HealthInvest Small & MicroCap Fund will receive in return the entire capital invested.

Information from HealthInvest Partners AB shall not be considered a recommendation to invest in HealthInvest Small & MicroCap Fund. Every person considering purchasing units in HealthInvest Small & MicroCap Fund must make an independent assessment of such an investment and the risks associated therewith. An investment in HealthInvest Small & MicroCap Fund should be seen as a long-term investment. Before you invest, you may want to review the Fund’s prospectus and simplified prospectus, which contain more information about the Fund and its risks. You can find the Fund’s prospectus and other information about the Fund online at www.healthinvest.se. You can also receive this information at no cost by calling +46 8 440 38 30 or by sending an e-mail request to info@healthinvest.se.

On 1 February 2020, the number of unit classes in HealthInvest Small & MicroCap Fund was reduced in line with what has been previously communicated. As of this date, unit classes A and B have ceased to exist. As compensation, unit holders in classes A and B have received units in class D equal to the total market value of their previous holdings in classes A and B as of 31 January 2020.

Please follow the link below for a letter to unit holders.

Letter to Unit Holders

The Swedish Financial Supervisory Authority (Finansinspektionen) has approved HealthInvest Partners’ request to reduce the number of unit classes of HealthInvest Small & MicroCap Fund. The reduction will take place by eliminating unit classes A and B from the fund rules.

Unit holders of classes A and B will automatically receive units in class D. An exchange ratio will be determined based on the unit prices of the classes on 31 January 2020. This ratio will, in turn, determine the number of units in class D each unit holder will receive on 1 February 2020. Please note that the total value of a holding will not change.

 
The switch from classes A or B to class D will entail a reduction in the fixed fee, but a performance fee will be charged in the event the return exceeds the hurdle rate. The minimum subscription amount will be lowered or remain unchanged, depending on whether you are currently a holder of units in class A or class B.

The switch from units in classes A or B to class D will have no tax consequences for taxpayers in Sweden.

 
Please follow the links below for a letter to unit holders and the amended fund rules.

Letter to Unit Holders: HealthInvest Small & MicroCap Fund

 
Fund Rules HealthInvest Small & MicroCap Fund

Please follow the link below to read the first Letter to Investors of 2019.

Letter to Investors 1, 2019

The merger between HealthInvest Value Fund and HealthInvest Small & MicroCap Fund is now completed.

Read more.

The Board of Directors of HealthInvest Partners has taken the decision to remove HealthInvest Value Fund from HealthInvest Partners’ fund range as of 12 December 2018. A merger by absorption shall take place of HealthInvest Value Fund into HealthInvest Small & MicroCap Fund. HealthInvest Value Fund unit holders will receive class B shares in HealthInvest Small & MicroCap Fund equivalent to the market value of their holdings as of 11 December 2018.

Please note that the merger of the two funds will have no tax consequences for taxpayers in Sweden. The taxable acquisition value of your holdings will not change.

The merger will not result in any changes for unit holders in HealthInvest Small & MicroCap Fund. The investment strategy of the fund will remain the same with value-oriented investments in the healthcare sector.

Please read the appended letter regarding the merger, the fund rules and the simplified prospectus for HealthInvest Small & MicroCap Fund, unit class B.

Letter to unit holders: Merger HealthInvest Value Fund and HealthInvest Small & MicroCap Fund

Fund Rules HealthInvest Small & MicroCap Fund

Simplified Prospectus HealthInvest Small & MicroCap Fund, unit class B

HealthInvest Partners has received approval from the Swedish Financial Supervisory Authority to implement changes in the fund rules for HealthInvest Value Fund. The new fund rules will enter into force with immediate effect. The main change is that the fee structure has been altered such that the performance fee has been eliminated.

Please read the attached letter for further information on the changes.

Letter to Unit Holders – HealthInvest Value Fund

Fund Rules HealthInvest Value Fund

Simpified Prospectus HealthInvest Value Fund A

Simplified Prospectus HealthInvest Value Fund B

Simplified Prospectus HealthInvest Value Fund C

Fund Prospectus HealthInvest Value Fund

HealthInvest Partners has received approval from the Swedish Financial Supervisory Authority to implement changes in the fund rules for HealthInvest Small & MicroCap Fund. The Fund will be converted to a UCITS fund commencing 15 June 2018. As a consequence, the regulatory regime applicable to the Fund will be more apparent to unit holders. Given that the Fund exploited the more flexible fund rules to a highly limited extent in its earlier form as a specialty fund, the conversion to the UCITS structure will have a negligible effect on how the Fund will now be managed.

Changes to the fee structure will also be implemented. Please read the complete information about the changes in the letter below as well as the new fund rules.

Letter to Unit Holders – HealthInvest Small & MicroCap Fund

Fund Rules HealthInvest Small & MicroCap Fund

Simpified Prospectus HealthInvest Small & MicroCap Fund A

Simplified Prospectus HealthInvest Small & MicroCap Fund B

Fund Prospectus HealthInvest Small & MicroCap Fund

HealthInvest Small & MicroCap Fund has been awarded Best Nordic Fund over 3 years in the Equity Sector HealthCare category by Lipper Fund Award. Follow this link for more information.

HealthInvest Funds’ Annual Report is now published. Please find it here.

Please follow the link below to read the second Letter to Investors of  2017.

Letter to Investors 2, 2017

HealthInvest Funds’ Semi-Annual Report is now published. Please find it here.

HealthInvest Funds’ Annual Report is now published. Please find it here.

Please follow the link below to read the first Letter to Investors of 2017.

Letter to Investors 1, 2017

Please follow the link below to read the second Letter to Investors of 2016.

Letter to Investors 2, 2016

Please follow the link below to read the first Letter to Investors of 2016.

Letter to Investors 1, 2016

HealthInvest Partners’ semi-annual report 2015 for HealthInvest Value Fund is now published. Please use the link below to find it.

HealthInvest Value Fund semi-annual report 2015

The merger between HealthInvest Asia Fund and HealthInvest Value Fund B is now completed.

Read more.

On 23 January 2015, the Swedish Financial Supervisory Authority approved changes to HealthInvest MicroCap Fund’s fund rules. The most important change for unit holders is that a request for redemption must now be received by the fund company one (1) calendar month prior to the trading day in lieu of the former three (3) calendar months. You may learn more here.

On 23 January 2015, the Swedish Financial Supervisory Authority granted HealthInvest Partners authorisation to manage alternative investment funds. Historically, HealthInvest Partners managed the special fund, HealthInvest MicroCap Fund, which is to be regarded as an alternative investment fund according to the rules and regulations. The decision by the Swedish Financial Supervisory Authority entails no change for unit holders.

The Board of Directors of HealthInvest Partners has taken a decision to remove HealthInvest Asia Fund from HealthInvest Partners’ fund range as of February 18, 2015. A merger by absorption shall take place of HealthInvest Asia Fund into HealthInvest Value Fund. HealthInvest Asia Fund unit holders will receive class B shares in HealthInvest Value Fund equivalent to the market value of their holdings as of February 17. Please note that the merger of the two funds will have no tax consequences for taxpayers in Sweden.The taxable acquisition value of your holdings will not change.

The merger will not result in any changes for unit holders in HealthInvest Value Fund. The investment strategy of the fund will remain the same with value-oriented investments in the healthcare sector.

Please read the appended letter regarding the merger, the fund rules and the simplified prospectus for HealthInvest Value Fund.

Merger HealthInvest Asia Fund och HealthInvest Value Fund

Fund rules HealthInvest Value Fund

Simplified prospectus HealthInvest Value Fund B

The merger between HealthInvest Access Fund and HealthInvest Value Fund B is now completed.

The Board of Directors of HealthInvest Partners has taken the decision to merge HealthInvest Access Fund with HealthInvest Value Fund. The first day of trading in the merged fund will be February 18, 2014. The fund is closed for trading on February 17, 2014, as US markets are closed. The merger will take place by the absorption of HealthInvest Access Fund into HealthInvest Value Fund. The unit holders of HealthInvest Access Fund will receive class B shares in HealthInvest Value Fund.

Further information: