Edison issues review on Worldwide Healthcare Trust

RNS Number : 2552I

Worldwide Healthcare Trust PLC

22 November 2018

 

London, UK, 22 November 2018

Edison issues review on Worldwide Healthcare Trust (WWH)

Worldwide Healthcare Trust (WWH) is managed by Sven Borho and Trevor Polischuk of specialist healthcare investor OrbiMed. The managers are positive on the outlook for healthcare stocks in 2019, following a volatile period for global equities so far in 2018. They see reduced political pressure on the sector following the US mid-term elections and believe there will be more of a focus on company fundamentals. The managers cite a series of novel therapeutic products under development, which could meaningfully bolster the revenues and earnings of companies that can successfully bring these drugs to market. In addition, they suggest that an increase in mergers and acquisitions could also focus investor attention on the healthcare sector's potential.

WWH's share price is trading at a 1.9% premium to its cum-income NAV. This compares with an average 0.5% premium over the last 12 months and an average 2.9% discount over the last five years. The board targets a maximum discount of 6%, but has not repurchased any shares since FY17, although share issuance has been high (Exhibit 1). While WWH aims to generate long-term capital growth, it also offers a 0.7% dividend yield.  

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