Original-Research: HBM Healthcare Investments AG (von Edison Investment Research Limited):

Mittwoch, 02.03.2016 17:31 von EQS Research

Original-Research: HBM Healthcare Investments AG - von Edison Investment Research Limited

Einstufung von Edison Investment Research Limited zu HBM Healthcare Investments AG

Unternehmen: HBM Healthcare Investments AG
ISIN: CH0012627250

Anlass der Studie:
Letzte Ratingänderung:
Analyst: Sarah Godfrey

London, UK, 2 March 2016
Edison initiates coverage on HBM Healthcare Investments

Edison Investment Research, a leading international investment research
firm, announces the initiation of full coverage of HBM Healthcare

Highlights of the analysis on HBM Healthcare Investments by Edison's
investment trust analysts Sarah Godfrey and Andrew Mitchell are as follows:

HBM Healthcare Investments (HBMN) is a Swiss investment company that
invests in healthcare companies globally. Its portfolio is spread across
private companies, private equity funds and public holdings, many of which
began in the private portfolio. After a buoyant IPO cycle it currently has
a relatively low proportion invested in private companies (14% at 31
December versus an average since inception in 2001 of 35.6%), but this is
set to rise, with $17.5m already committed to two new private investments
so far in 2016. HBMN invests broadly across healthcare (diversified by
sector, geography and company size) rather than concentrating on the
recently more volatile area of biotechnology. It has outperformed the MSCI
World Health Care Index over one and three years. Each year 5-8% of NAV is
expected to be returned to shareholders through a combination of share
buybacks and capital distributions (current yield of 5.6%).

HBM Healthcare Investments (previously HBM BioVentures, renamed in 2012)
aims to generate long-term gains through investment in private and public
companies in the human medicine, biotech, medtech and diagnostics sectors,
and related areas. It invests worldwide, predominantly in private
companies, either directly or through funds, and many of its publicly
listed holdings began as private equity investments.
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