Rhenman Healthcare Equity L/S

Reopening of Rhenman Healthcare Equity L/S (RHE L/S)

In accordance with the prospectus for RHE L/S, the fund was closed to new investors at the turn of 2015/2016 given that fund assets then exeeded EUR 500 million. Fund assets decreased slightly the following year and was below the stipulated EUR 45o million which prompted a re-opening of RHE L/S. This means that both new and existing unitholders can now invest in the fund until the fund’s assets reach EUR 1 billion when RHE L/S, in accordance with the prospectus, will be closed completely for the purchase of fund shares to all investors (hard close). Investors will still be able to redeem fund units on a monthly basis after the hard close.

 

Focus on Healthcare

Rhenman Healthcare Equity L/S is a global hedge fund with Rhenman & Partners Asset Management as the portfolio manager. The fund is part of the umbrella fund of SEB Fund Services S.A. in Luxembourg. The fund is focused on the healthcare sector and was started in June 2009. Since then it has delivered a total return of +356%. The goal is to generate a net annual return of at least 12% regardless of the performance of the stock market. Currently, the average annual return is about 21% since the fund’s inception. Please note that we do not give investment recommendations, and investors that consider investing in the fund are recommended to discuss the matter of investment with professional investment advisors.

 

Good diversification

Because the United States is a dominant player within healthcare, our equity allocation is usually two-thirds in the United States and one-third in the rest of the world. The spread is normally roughly a quarter in each sub-sector (pharmaceuticals, biotechnology, medical technology and service), with about a third each in small, medium and large companies. The hedge fund’s free investment rules give us far greater opportunities compared to conventional mutual funds. This means that we are spreading the risks and have an absolute return target. This is also the reason why we do not compare ourselves with a stock market index, but rather aim to achieve a positive annual return regardless of stock market performance.

 

SEB OWNS THE FUND STRUCTURE

The fund is part of the umbrella fund of SEB Fund Services in Luxembourg. This gives investors greater security as one of the largest Nordic commercial banks is behind the fund. Please note that we do not give investment recommendations, and investors that consider investing in the fund are recommended to discuss the matter of investment with professional investment advisors.