Fund of the Week: specialist fund manager Gareth Powell on why he’s buying stocks that focus on at-home care
It has been a game of two halves for healthcare stocks this year.
During the first six months many were left out in the cold as investors flocked to companies that benefited from the reopening of economies. However, they have recovered somewhat since June.
Gareth Powell, co-manager of the Polar Capital Global Healthcare investment trust, says there are still opportunities to be found in small and medium-sized healthcare stocks.
He argues that some were unfairly hit on the way down and are now trading at bargain prices. The £385m trust, which he manages alongside James Douglas, has risen by 5pc over the past 12 months, compared with rivals’ 14pc average loss.