: UOB Asset Management (Malaysia) Bhd (UOBAM Malaysia) is aiming for its newly-launched United Global Healthcare Fund with a fund size of RM300 million being fully subscribed within a year. Chief executive officer Lim Suet Ling said the fund, first launched in Singapore in 2010, is now being made available for retail investors in Malaysia under the ASEAN Collective Investment Scheme Framework.
It is also the first of its kind, catering to retail investors in the country, she told a media briefing on the fund here yesterday. The fund is targeted at achieving capital appreciation by investing in securities issued by companies in the development, manufacturing or distribution of healthcare products, equipment and/or services. It is also diversified across various healthcare industry sub-sectors such as medical products, health services, pharmaceuticals and biotechnology.
“The healthcare industry is a defensive sector that typically remains resilient across market cycles as healthcare companies have a strong balance sheet and demand for their services remain stable even during periods of economic slowdown, “ Lim said.
She said the accommodating regulatory environment for new treatments and advances is also set to drive the growth of the industry. Sub-managed by Wellington Management Singapore Pte Ltd, the fund is available in the Ringgit, Singapore Dollar and US Dollar.
Investment specialist Wellington Management Singapore, Brian Yeong said the healthcare sector remained attractive from advances in innovation in the biopharmaceutical and medical segments. He said over the long term, innovation, an ageing population and globalisation of demand for cutting edge medicines, should continue to drive the sector. – Bernama
