Monthly comment (Mar 2026): A month dominated by the war in the Middle East
The war in the Middle East dominated the month of March, both in terms of the news flows and the movements on the equity markets. Interest rates rose during the month, reflecting a market that increasingly questioned the likelihood of near-term rate cuts. Diversification, quality, stable growth, and companies with products that address […]
Rhenman & Partners to change service providers
Effective from May 1, 2026, One Fund Management S.A. will take over as the management company and global distributor for the Rhenman & Partners Fund (the “Fund”), replacing FundRock Management Company S.A. and FundRock Distribution S.A respectively. At the same time, Citco Fund Services Luxembourg S.A. will become the new administrator, succeeding UI efa S.A. […]
Anders Rodebjer joins the Rhenman & Partners’ board
Rhenman & Partners’ board welcomes Anders Rodebjer, a financial industry veteran. He is one of the founders of the corporate finance firm HDR Partners, where he worked for 20 years. Prior to that, he spent 13 years as an investment banker at Carnegie Investment Bank. Anders was also part of an external investor group that […]
Monthly comment (Feb 2026): Strong start to the earnings season
Large-cap pharmaceutical companies performed strongly during the month, driven by solid earnings and the continued momentum for value stocks. Growth stocks underperformed, particularly medical technology and companies perceived as AI losers. M&A activity continued within the biotechnology sector, with the fund benefiting from the acquisition of Arcellx. In the near term, focus shifts from micro […]
Monthly comment (Jan 2026): A relatively weak month as momentum shifted elsewhere
As investors rotated to other sectors, healthcare had a relatively weak month. The continued US dollar sell-off further impacted the healthcare sector. Managed care was especially pressured by a potential lower-than-expected reimbursement rate notice from the Centres for Medicare and Medicaid Services (CMS). The fund had a negative monthly performance, with pharmaceuticals and managed care […]
Kjell Norling joins the board of Rhenman & Partners
Kjell Norling, former CEO of PP Pension, has been appointed to the board of Rhenman & Partners. Kjell brings extensive experience from the financial sector, having held several senior roles in asset management. Additionally, he possesses significant expertise in distribution-related matters. Kjell has previously been Director at KPMG, Head of Global Fund Distribution at SEB […]
Healthcare sector 2025 review and outlook
2025 was a year defined by two distinct narratives for the healthcare sector. During the first half of the year, attention was heavily focused on political uncertainty and weak biotech funding. In contrast, the second half of the year saw decreased political uncertainty and a better funding environment. With the market shifting focus to the […]
Monthly comment (December 2025): The healthcare sector retreated
The healthcare sector retreated in December following three months of strong performance. The fund delivered a negative return for the month. While pharmaceuticals contributed positively, other subsectors weighed on overall performance. For the full year, the fund gained 7 percent in EUR and 21 percent in USD. This discrepancy highlights the significant impact of the […]
Two halves, two stories – the healthcare sector 2025 annual recap
2025 has been a year defined by two distinct narratives for the healthcare sector. During the first half of the year, attention was heavily focused on political uncertainty and the presence of unknown factors. In contrast, the second half of the year has seen a shift in focus toward established Most Favored Nation (MFN) deals […]