Bellevue Healthcare Share Discussion Threads

[jonwig] 05/12/2016 10:14

essential - I think also the idea is to be able to offer new 'C' shares which will eventually merge with the ords. That would most likely happen if the shares went to a premium ... which appears to be happening now!

[essential] 05/12/2016 10:07

Made my first purchase this morning. I like the mechanism to ensure the price does not drop to a discount. Every portfolio needs exposure to this sector IMHO

[killing_time] 03/12/2016 11:26

Thanks for setting up this thread jonwig.

I'm now looking to hold long term, the 3.5% div helps me to just leave it alone in my sipp and give it 3 or 4 years to see what happens. KT.

[jonwig] 01/12/2016 06:54

Article and video:

[jonwig] 30/11/2016 08:44

Friday 2nd isn't it, Molby?

£150m vs target £200m - seems private investors weren't over keen here.

[daveofdevon] 26/11/2016 13:49

Thanks Jonwig, you give me a degree of comfort but also a new worry, the Trump effect.

Recently one of the doomsters said that the Trump effect might well emulate the Ronald Regan era in which the market rose as he took office, peaked in April and then fell by 20% by September.

I think I will buy, expect to top up in late 2017 and then wait 5 years for the reward.

[jonwig] 26/11/2016 12:11

Hi, Dave - you caught me just as I was off to cook lunch, so quickly ...

Healthcare, pharma might get a boost from Trump (ie. non-Clinton) and the Trump rally still has some way to go I think.

Paying divis out of capital, share buybacks and annual redemption should limit the downside.

Track record of managers in an existing fund looks good. Charges not excessive and no performance fee.

Like you I'm very cautious at present with lots of cash and short-dated gilts, but I shall apply for some. By the way I haven't trawled through the prospectus!!

[jonwig] 16/11/2016 07:01

jaws - I didn't know they'd tried before. Thanks.

[jaws6] 16/11/2016 06:41

They tried last year twice to pull IPO at last minute.there is few other which trades at discount like BIOG.
will try to get more discout link later when I can.

[jonwig] 16/11/2016 06:37

Cheers - I've copied that to the header. I'm inclined to invest here, there's a lot of attractive features in the way it's set up.

[strollingmolby] 15/11/2016 23:14

Thanks for setting the thread up, jonwig.

Here's the prospectus for further details...

[jonwig] 14/11/2016 16:30

This isn't a sector I know much about. Would welcome any views.
Discount and redemption policy looks useful.
My broker's deadline is 28 Nov.
Minimum 1,000 shs @ 100p.

[jonwig] 14/11/2016 16:29

. Renamed Bellevue Healthcare Trust.

.


IPO to close at end of month.
£200m at 100p.
From the factsheet:

• To provide Shareholders with capital growth and income over the
long term, through investment in listed or quoted global healthcare
companies
• Specific return objectives are: (i) to beat the total return of the MSCI
World Healthcare Index (in sterling) on a rolling 3 year period (the
index total return including dividends reinvested on a net basis);
and (ii) to seek to generate a double-digit total shareholder return
per annum over a rolling 3 year period
• Target total dividend in the first financial period is 3.5p per ordinary
share (to be paid mostly out of capital); target annual dividend in
subsequent financial years set at 3.5% of preceding financial year
end NAV (to be paid mostly out of capital and in two equal instalments)

Summary investment policy
• BB Healthcare intends to invest in a concentrated portfolio of listed
or quoted equities in the global healthcare industry (maximum of
35 holdings)
• The investable universe for BB Healthcare is the global healthcare
industry including companies within industries such as pharmaceuticals,
biotechnology, medical devices and equipment,
healthcare insurers and facility operators, information technology
(where the product or service supports, supplies or services the delivery
of healthcare), drug retail, consumer healthcare and distribution
• There will be no restrictions on the constituents of BB Healthcare’s
portfolio by index benchmark, geography, market capitalisation or
healthcare industry sub-sector. BB Healthcare will not seek to replicate
the benchmark index in constructing its portfolio.

Link to Prospectus:


Significant Holdings (total 253,911,268 shares after second issue):
Heartwood W M ....... 10,813,202 4.2%
Erich Hunziker ...... 10,000,000 3.9%
Schroders ............ 8,064,100 3.2%
Whale Holding AG ..... 3,525,000 1.5%
Net asset values (monthly):
02/12/16 ... 98.28p
03/01/17 .. 103.55p
28/02/17 .. 112.3p
31/03/17 .. 110.6p
30/04/17 .. 111.4p
31/05/17 .. 110.2p

[energyi] 12/7/2006 16:01

.S. Stocks Drop on Genentech Shortfall; Microsoft Declines
July 12 (Bloomberg) -- U.S. stocks fell as a sales report from Genentech Inc. increased concern that earnings will trail analyst estimates.

Genentech, the world's second-largest biotechnology company, dropped after revenue from colon-cancer treatment Avastin fell short of investor expectations. Brunswick Corp. declined after the boat maker said 2006 profit will decline.

``The concern really is: Can earnings growth continue?'' said Larry Peruzzi, a senior equity trader at Boston Co. in Boston. Investors are ``very cautious.''

The Standard and Poor's 500 Index lost 1.84, or 0.1 percent, to 1270.68 at 10:17 a.m. in New York. The Dow Jones Industrial Average fell 15.77, or 0.1 percent, to 11,119. The Nasdaq Composite Index dropped 9.16, or 0.4 percent, to 2119.70, dragged down by Microsoft Corp.

Genentech's sales, along with shortfalls from Alcoa Inc. and Lucent Technologies Inc., raised concern that economic and earnings growth may slow. Investors are also wary higher interest rates may be cutting into profits.

Analysts expect S&P 500 companies to report 12.3 percent growth in earnings for the April-to-June period, based on a survey by Thomson Financial. The Federal Reserve has raised interest rates 17 times over two years to 5.25 percent.

Genentech's Miss

Genentech lost $2.26 to $81.80. U.S. sales of Avastin totaled $423 million during the second quarter. That was less than what investors were expecting, according to Cowen & Co. analyst Eric Schmidt. Profit rose 79 percent as doctor's prescribed more of the company's medicines. Deutsche Bank AG and Prudential Equity Group Inc. both downgraded the company's stock.

. .
Genentech and Brunswick became the latest companies to disappoint investors. Alcoa, the world's largest aluminum producer, said second-quarter profit fell short of analyst estimates and record earnings aren't sustainable. Lucent said sales and profit missed analyst estimates.

[energyi] 09/1/2006 21:14

Symb Company Name===== $Price Weight
DNA- Genentech Inc.. : $44.00 32.19%
AMGN Amgen Inc...... : $64.48 27.42%
BIIB Biogen Idec Inc : $26.95. 9.94%
GILD Gilead Sciences : $16.00. 6.17%
CHIR Chiron Corp.... : $16.00. 5.12%
GENZ Genzyme Corp... : $14.00. 4.59%
==== Sub-Totals===== : ...... 85.43%
Others:
Applera - Appl.Biosystems ABI 18.00 2.56%
MedImmune Inc........... MEDI 15.00 2.55%
Sepracor Inc............ SEPR. 6.00 1.95%
Millennium Pharmaceutic. MLNM 12.00 1.48%
Shire Pharmaceuticals.. SHPGY. 6.83 1.41%
ICOS Corp............... ICOS. 4.00 1.07%
Affymetrix Inc.......... AFFX. 4.00 0.92%
Qlt Inc................. QLTI. 5.00 0.82%
Human Genome Sciences... HGSI. 8.00 0.67%
Alkermes Inc............ ALKS. 4.00 0.41%
Applera - Celera Genomics CRA. 4.00 0.40%
Enzon Inc............... ENZN. 3.00 0.33%

[energyi] 24/10/2005 21:40

I'm short DNA thru Puts

[energyi] 13/8/2005 08:38

WAIT ON BIOTECHS DESPITE RECENT STRENGTH
by Bruce Zaro
August 12, 2005


With investor optimism toward the stock market returning, I felt it appropriate to write a follow-up to my most recent article, ¡§Semiconductors Confirming Economic Strength,¡¨ by highlighting another high-octane sector of the market.

Biotechnology stocks capture investors¡¦ hopes and fears like no other group, save Internet stocks. As people search for the company that will provide the cure for cancer, AID, etc. and it¡¦s no shock that the cycle of promise and disappointment in this sector can result in a $1.13 stock that runs up to $3.50 Tuesday and settles back to $1.20 by Friday. Indeed, the biotech sector as a whole thus far in 2005 has shown a first quarter performance of negative 9.9% while the second quarter rebounded to show a 12.5% gain. Love ¡¥em and hate ¡¥em all in the same year: that¡¦s the biotech group.

Because this sector can be so volatile, I believe it is possible to be a little bit late to the party and still catch significant percentage moves in individual biotech issues. Thus, I tend to hold biotech stocks in our portfolios only when they clearly show signs of sponsorship and particularly when they¡¦re exhibiting such strength from oversold levels. And since this volatile sector can provide buying opportunities and significant profit taking opportunities in short order, it is wisest for most investors to steer toward the large, liquid biotech names such as Gilead, Amgen and Genentech while avoiding the flash-in-the-pan types like Entremed and Ariad, despite their momentary allure.

Further, my investment management style is firmly based on the premise that when investing, market conditions are most important in determining when to act, followed by the sector¡¦s condition and only lastly by individual stock selection. This classic ¡§top-down¡¨ approach to technical analysis is crucial since studies have shown that market and sector conditions typically account for more than 75% of a stock¡¦s movement, with only a fraction of share price movement actually coming from the company¡¦s fundamentals itself. Because I so highly value market and sector conditions when analyzing what to buy, perhaps a look at whether the Biotech sector currently makes sense is in order.

While the market is currently on the offensive, from a supply and demand standpoint it is in relatively poor field position and the rally from the May lows is getting tired. Recently, there have been some early signs that the summer dog days are starting to set in. Because we reach such posture in front of the often-troubling months of September and October, I am expecting any pullback we might see in those months to provide an attractive entry point.

Because the Biotech sector relative strength is strong and getting stronger, it will be one of the groups I¡¦ll have my eye on in coming weeks. As can be seen in the chart below, the sector bullish percentage recently exceeded its previous top at 50 (most recent column of Xs, which mark rising trends in Point and Figure analysis):

@:

[latifs100] 20/7/2005 19:36

why vernalis fallin??