Gareth Powell, manager of the Polar Capital Healthcare Opportunities fund, tells Joanna Faith about his bullish outlook for the US and why he is avoiding emerging market plays...
Can you explain the strategy behind the fund? When we first launched the fund in 2007, the strategy was a mixture of value, growth and GARP (growth at a reasonable price) investing. We have since shifted the bias onto growth opportunities. Many people do not appreciate there are highly cyclical elements to healthcare as well as defensive plays. With much shorter business cycles, we thought it important to have the flexibility to go more defensive or cyclical as we saw fit. The fund adopts a multi-cap strategy. There are a lot of opportunities people do not see by simply looking at ...
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