Bellevue plans £200m healthcare investment trust listing

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Bellevue Asset Management has this morning announced its intention to launch the BB Healthcare Trust on the London Stock Exchange.

The high conviction, long-only investment trust, which will invest in quoted global healthcare equities, aims to raise £200m.

Its dividend will be 3.5 per cent and fees will be 0.95 per cent.

The fund will be managed by Daniel Koller, who already runs the Swiss-listed £2.2bn BB Biotech investment company, and Paul Major, who has 18 years experience in the healthcare industry.

Koller has delivered annualised total shareholder returns of approximately 27 per cent since becoming head of portfolio management for that investment company.

Chairman of the trust Justin Stebbing says: “The world is getting richer, older and spending more on a range of healthcare products and services.

“Healthcare equity valuations do not currently fully reflect the long term potential of the industry.”

Admission is planned for early December.