Platinum World Portfolios - Health Sciences Fund
A truly diversified portfolio of companies from around the world and across the health care sector, the fund offers investors exposure to undervalued businesses in both developed and emerging markets. The health care industry includes (but is not limited to) biotechnology, pharmaceuticals, diagnostics, laboratory technologies, distributors of healthcare products, equipment and services, hospitals and nursing care, health insurance and information technology providers to such companies. The fund may also invest in securities of companies engaged in early stage research and development of new drugs or treatments.
To provide capital growth over the long-term (generally 5 to 7 years) through investing 50% to 100% of the fund’s net asset value (at the time of investment) in undervalued securities of companies related to the health care sector which may be located anywhere in the world.
- Access to a manager with a proven investment philosophy and method for selecting undervalued stocks and a team of experienced investment professionals
- Exposure to an actively managed, diversified equity portfolio that seeks to minimise losses during market downturns using risk management techniques
- Actively managed currency exposures providing diversification and potentially reducing currency risk
- Choice of share classes denominated in USD, EUR or GBP
- As a percentage of the net asset value of the fund attributable to the relevant share class per annum.
- As a percentage of the amount by which the fund outperforms an absolute return hurdle of 6%, after deduction of the base fee, but before deduction of any accrued performance fee. If the return on the fund in any year is less than the absolute return hurdle, the difference for that year will be carried forward and applied against the subsequent year’s return for the fund for the purpose of calculating a performance fee. The shortfall will be carried forward until a performance fee becomes payable. No performance fee can be paid unless all prior underperformance has been clawed back.
- This voluntary cap represents, as a percentage of the net asset value of the fund attributable to each share class, the maximum amount that can be paid out of the fund to cover fees and expenses in a financial year, excluding performance fees, if any, that may be payable to the Investment Manager, but including any base fees and out-of-pocket expenses payable to the Investment Manager as well as any fees and expenses payable to the fund’s custodian and administrator. The Investment Manager has voluntarily undertaken to reduce or waive all or a portion of its investment management fee or to make other arrangements to reduce the fees and expenses of the fund to the extent necessary to ensure that the total fees and expenses in a financial year (excluding performance fees) do not exceed the stated levels. The Investment Manager may terminate or modify any such voluntary agreement at any time at its sole discretion upon thirty (30) days’ notice in writing to the shareholders of Platinum World Portfolios PLC.
- The fund invests primarily in equity and equity-related securities that are listed or traded on regulated markets.
- The fund may invest up to 10% of its net asset value in unlisted securities.
- When undervalued securities cannot be identified, the fund may invest in cash, deposits and similar instruments.
- The fund may have exposure to bonds/debt securities through bond futures and convertible securities, but such exposure will not exceed 10% of the fund’s net asset value at the time of investment.
- The fund may be leveraged as a result of using derivatives (including for indirect short positions), but such leverage will not exceed 100% of the fund’s net asset value.
- The fund may borrow on a temporary basis up to 10% of its net asset value.
- Subject to the limits on leverage, the fund may hold indirect short positions through the use of derivatives (primarily equity swap contracts).
- Typically 0 – 50% of the fund’s net asset value.
- The fund’s currency exposures are actively managed with the aim of capturing the returns and minimising the risks arising from the fund’s exposure to foreign currency fluctuations, which can change the value of the equity investments measured in the fund’s reporting currency (USD).
- Platinum may manage the fund’s currency exposures using foreign exchange forwards, swaps, non-deliverable forwards, currency options and cash foreign exchange trades.
- The fund does not seek to undertake share class hedging for share classes E – H and founders share classes E - H which are denominated in a currency other than the fund’s base currency (USD).
|Share Class A||Share Class B||Share Class D||Share Class E||Share Class F||Share Class G||Share Class H||Founders Share Class A||Founders Share Class B||Founders Share Class E||Founders Share Class F||Founders Share Class G||Founders Share Class H|
|Currency||US Dollar||US Dollar||US Dollar||Euro||Euro||Pound Sterling||Pound Sterling||US Dollar||US Dollar||Euro||Euro||Pound Sterling||Pound Sterling|
|Minimum Initial Investment||US$500,000||US$100,000||US$100,000||€400,000||€80,000||£300,000||£60,000||US$1,000,000||US$1,000,000||€800,000||€800,000||£600,000||£600,000|
|Minimum Subsequent Investment||US$25,000||US$25,000||US$25,000||€20,000||€20,000||£20,000||£20,000||US$100,000||US$100,000||€80,000||€80,000||£60,000||£60,000|
|Anti-Dilution Levy (on entry or exit)||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%||0.25%|
|Investment Management Fee|
|· Base Fee1||0.75%||1.40%||1.40%||0.75%||1.40%||0.75%||1.40%||0.50%||0.95%||0.50%||0.95%||0.50%||0.95%|
|· Performance Fee2||15%||Nil||Nil||15%||Nil||15%||Nil||15%||Nil||15%||Nil||15%||Nil|
|Voluntary Cap on Total Fees & Expenses3||1.00%||1.65%||1.65%||1.00%||1.65%||1.00%||1.65%||0.75%||1.20%||0.75%||1.20%||0.75%||1.20%|
|Registered in the UK||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes||Yes|
|UK Reporting Fund||Yes||Yes||No||No||No||Yes||Yes||Yes||Yes||No||No||Yes||Yes|
Key Investment Policies
The following is a summary of the fund’s key investment policies and guidelines. Please carefully read the Prospectus and the Key Investor Information Documents (KIIDs) and/or Key Information Documents (PRIIPs KIDs) before making any investment decision.
|Suggested time horizon||5 or more years|
|Geographic limits||None. The fund's investments are not subject to geographical limits and may be located in emerging markets.|
|Number of securities in portfolio||Typically 30 to 100 securities that the Investment Manager believes to be undervalued.|
|Net equity exposure||Typically 50 – 100% of the fund’s net asset value.|
|Derivatives||The fund may use financial derivative instruments (e.g. futures, options, swaps) to increase returns and/or for the purpose of efficient portfolio management (e.g. to reduce risk exposure).|
- PWP - Health Sciences Fund (Class A USD Accumulating) (also representative for Classes E and G)
- PWP - Health Sciences Fund (Class D USD Accumulating) (also representative for Classes B, F and H)
- PWP - Health Sciences Fund (Founders Class A USD Accumulating) (also rep for Founders Classes E & G)
- PWP - Health Sciences Fund (Founders Class B USD Accumulating) (also rep for Founders Classes F & H)
- PWP - Health Sciences Fund Class A USD Accumulating (also representative for Classes E and G)
- PWP - Health Sciences Fund Class D USD Accumulating (also representative for Classes B, F and H)
- PWP - Health Sciences Fund Founders Class A USD Accumulating (also rep for Founders Classes E & G)
- PWP - Health Sciences Fund Founders Class B USD Accumulating (also rep for Founders Classes F & H)
Updates & Reports
The following prices (net asset value per share) pertain to the various share classes available for investing in the Platinum World Portfolios - Health Sciences Fund. The share classes differ with respect to important attributes, such as currency of denomination, fees, voting rights as well as their availability and tax reporting status in specific jurisdictions.
Please refer to the Fund Overview for a summary of those differences, and please carefully read the Prospectus and the Key Investor Information Documents (KIIDs) before making any investment decision. The Prospectus contains further details on each share class as well as the initial subscription price (subject to any anti-dilution levy) applicable to those share classes that have not been activated (and, therefore, for which no price is displayed below).
Information on this webpage does not, and is not intended to, constitute an offer or a solicitation to subscribe for, redeem or convert shares in Platinum World Portfolios PLC or any of its sub-funds in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation.