Check out this in-depth manager commentary for the Global Health Care (Renaissance) Fund.
Read the complete reviews:
Executive summary:
- The Renaissance Global Health Care Fund outperformed its benchmark in the fourth quarter and throughout 2024.
- Despite our outperformance, the vast majority of stocks within the portfolio have yet to go into a catalyst window, so most of the opportunities are ahead.
- Portfolio turnover was below historical norms at 1 new buy, and 1 outright liquidation from the portfolio.
- The acquisition of Longboard Pharmaceuticals, and Praxis Precision Medicines were the top contributors to performance.
- Philips and IQVIA were the largest detractors from Fund performance.
- The portfolio has fairly balanced exposure across the three major health care sub-sectors in pharmaceuticals,medical technology, and health care services.
- Companies related to vaccine biopharmaceuticals or Medicaid funding could be impacted by the US election results, of which we have no exposure to.
- We will continue our alpha generation focus that is driven through deep fundamental analysis underpinned by a capital preservation approach to risk management.
