HealthInvest Alpha Fund’s portfolio manager will increase his investment in the Fund by SEK 45 million in October. Following the purchase, the manager’s total investment in the Fund will amount to approximately SEK 125 million.
 
Anders Hallberg, the Fund’s portfolio manager: “HealthInvest Alpha Fund’s track record now spans in excess of eight years and has returned around 17 percent annually since its inception. It is particularly satisfying that the Fund has had the highest risk-adjusted excess return relative to competing healthcare funds. HealthInvest Alpha Fund’s strategy of focusing on companies with low valuations facing inflection points works well and we are constantly on the lookout for companies that may benefit from new drug launches, cost savings, or other events that will significantly increase shareholder value.”
 
Anders continues: “HealthInvest Alpha Fund has a low valuation of 13.5x free cash flow. The healthcare sector also looks attractively priced as it trades at a 16 percent discount compared to the world index, which is remarkable given that it normally trades at a 20 percent premium. All in all, this means that the Fund should increase by 125 percent if the holdings trade in line with the healthcare sector and the healthcare sector reaches its normal valuation relative to the world index.”
 
Anders concludes: “During the year, we have continued to interview doctors and executives, studied prescription data and reviewed companies’ accounts – a due diligence process that has generated 16 new holdings so far in 2021. In my view, HealthInvest Alpha Fund has a promising stock portfolio coupled with low valuations, which should bode well for the future. All things considered; I am highly confident about increasing my investment in HealthInvest Alpha Fund.”
 
 
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It is the responsibility of each and every person interested in investing in these funds 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. The fund company, 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. The material on this site is directed only at persons in Sweden. 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 a fund managed by HealthInvest Partners cannot result in a loss. This applies irrespective of otherwise positive performance on the financial markets. Past performance is no guarantee of future results. Information from the fund company shall not be considered a recommendation to invest in the funds. Every person considering purchasing units in any of the funds must make an independent assessment of such an investment and the risks associated therewith. Investments in the funds should be seen as long-term investments. The Funds’ prospectuses and other information about the Funds are avaliable online at www.healthinvest.se. You can also receive this information at no cost by calling +46 80 440 38 30 or by sending an e-mail request to info@healthinvest.se.
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Change of name to HealthInvest Alpha Fund
 
On 14 June 2021, HealthInvest Small & MicroCap Fund will change name to HealthInvest Alpha Fund. The name change is made to highlight the ability and ambition to generate excess returns (Alpha). The fund’s investment strategy will not change, however, and the asset management team will continue to work relentlessly.  The name change was approved by the Swedish Financial Supervisory Authority (Finansinspektionen) on 28 May.
 
HealthInvest Partners’ main purpose is to generate an excess return compared to passively managed funds. This excess return is called Alpha in academic terms. The scientific theory behind the alpha value was developed in the 1960s and the researchers Markowitz, Miller and Sharpe who invented the concept won the Nobel Prize in 1990.
 
As HealthInvest Small & MicroCap Fund now has a relatively long track record of 8 years, we have evaluated whether the fund has managed to generate Alpha. The evaluation, which included all healthcare funds in the database Morningstar.se with sufficient track record, showed that HealthInvest has had the highest Alpha since inception in January 2013 (7.4% annually). In addition, the fund’s risk, measured as beta, is 37% lower than the market in general.
 
Please click below for a letter to the fund’s unit holders and for the new fund rules.
 
Letter To Unit Holders
Fund Rules HealthInvest Alpha Fund
 
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