Edison issues review on Worldwide Healthcare Trust

RNS Number : 9441I

Worldwide Healthcare Trust PLC

26 March 2018

 



London, UK, 26 March 2018

Edison issues review on Worldwide Healthcare Trust (WWH)

Worldwide Healthcare Trust (WWH) is managed by OrbiMed Capital, a leading specialist healthcare investment company. Since December 2017, following the departure of Sam Isaly, its lead manager is Sven Borho, who is a founding partner of OrbiMed and has been involved with the management of WWH since the trust's launch in April 1995. Borho is bullish on the outlook for the global healthcare sector due to continued innovation, a benign regulatory environment, an expected acceleration in mergers and acquisitions, and inexpensive company valuations. WWH has a positive long-term performance track record. Its NAV and share price total returns have exceeded the MSCI World Health Care index total returns over one, three, five and 10 years.

WWH's share price discount to cum-income NAV has narrowed meaningfully from 13.0% at end-June 2016 following the UK's European referendum, and in recent months the trust has been trading close to NAV. Over the last 12 months, WWH has traded at an average premium of 0.3%, which compares to the average discounts over the last three, five and 10 years of 3.3%, 3.4% and 5.7% respectively. While WWH aims to generate long-term capital growth, rather than income, the trust pays dividends regularly twice a year; its current yield is 0.9%.

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