Benchmark for Sicav

Sarasin Investment Management has created a special composite benchmark for its HealthSar Sicav as no suitable conventional index exists. Puttner said the Sicav, details of which were exclusively revealed in Investment Week last month, would benchmark against a composite index comprising elements drawn from the MSCI World Pharmaceutical index, the MSCI World Healthcare and Equipment Services index and the MSCI Biotechnology index. 'Because of the unusual nature of the fund it was very difficult to accurately benchmark against a conventional index,' she said. 'The fund will be c...