Edison update - Worldwide Healthcare Trust

RNS Number : 0275U

Worldwide Healthcare Trust PLC

24 July 2015

 

London, UK, 24 July 2015

Edison issues research update on Worldwide Healthcare Trust

Worldwide Healthcare Trust (WWH) offers broad exposure to the global healthcare sector, including investments in healthcare services and medical devices alongside the more mainstream areas of pharmaceuticals and biotechnology. Healthcare has performed strongly in recent years, and WWH has outperformed its benchmark, the MSCI World Health Care Index, in three of the past four years to 30 June, particularly so in the last two years. While such strong performance may spark fears that a rerating is overdue, the manager points to continued favourable fundamentals for the sector, with the pace of drug discovery and an accommodative regulatory backdrop providing support.

At 20 July WWH's shares were trading at a 2.0% discount to cum-income NAV. This is narrower than the average discount over one, three and five years (4.6%, 4.6% and 6.1% respectively), but below the premium of 0.6% seen in late January, which was followed by a brief widening of the discount to 8% in early March. At the time of writing and after a sustained period of strong performance the shares were at a 52-week high, although NAV was 4% below its peak value.

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