Worldwide Healthcare Trust PLC Edison issues review on Worldwide Healthcare Trust
28 January 2022 - 6:59PM
RNS Non-Regulatory
TIDMWWH
Worldwide Healthcare Trust PLC
28 January 2022
London, UK, 28 January 2022
Edison issues review on Worldwide Healthcare Trust (WWH)
Worldwide Healthcare Trust (WWH) is managed by Sven Borho and
Trevor Polischuk at healthcare specialist investor OrbiMed. While
disappointed with the trust's performance in 2021, the managers are
upbeat about its prospects in 2022 based on their expectation for a
reversal in the underperformance of biotech and Chinese stocks, due
to positive industry fundamentals including high levels of
innovation. Also, clarity in drug pricing reform could lead to an
improvement in investor sentiment towards the healthcare sector.
Borho and Polischuk are anticipating an uptick in mergers and
acquisitions (M&A) this year, compared with muted levels in
2021, which should provide further support for healthcare
stocks.
WWH's board employs a discount control mechanism aiming to
ensure a maximum 6% share price discount to ex-income NAV in normal
market conditions. The trust's shares are currently trading at a
1.7% discount to its cum-income NAV, which compares to average
premiums of 0.0%, 0.1% and 0.1% over the last one, three and five
years, respectively. In FY21, WWH's share base increased by about
20%, which raised GBP380.6m, and so far in FY22, a further c 1.2m
shares (c 1.9% of the share base) have been issued, raising c
GBP45.6m.
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