Sarasin is to launch an onshore version of its HealthSar Sicav, and has pencilled in an 18 March lau...
Sarasin is to launch an onshore version of its HealthSar Sicav, and has pencilled in an 18 March launch date.
HealthSar, which launched in October last year, invests in pharmaceuticals, medical technology and biotechnology on a global basis, in keeping with the company's global themed approach to investing.
The fund, which has not yet received FSA approval, will be the fifth fund in Sarasin's onshore Oeic. It will have an up-front charge of 5%, of which 3% is commission, and an annual management charge of 1.5%. It will be marketed exclusively though the intermediary market and have a three week offer period from 18 March, should the FSA grant approval. It will be launched with a discount. Investment Week understands, although, the level has not as yet been decided.
HealthSar benchmarks 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. It runs a portfolio of between 40 and 70 stocks, of which the majority will have a market capitalisation of E500m or above, at any one time. It is managed by Roland Armbruster, who also manages the BluechipSar Sicav, with the assistance of Dr Irene Puttner. Puttner will also advise on the management of the onshore fund, which will essentially be a clone of the original.
The offshore fund has raised £11.5m in assets since launch.
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