What it does
Invests in companies developing new drugs. The team believe that an ageing global population means there is a growing need for these.
What it invests in
It looks for companies with an experienced management team targeting an unmet need. About 41% of its assets are in companies focused on cancer, such as the German firm MorphoSys. Four-fifths of its assets are American.
The lead fund manager, Carl Harald Janson, said: “We are good at innovation in the UK and Europe but a lot of those inventions tend to get bought and end up in America.”