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HSBC Asset Management launches Sustainable Healthcare Fund

The firm’s first healthcare fund focused on sustainability and impact.
28 July 2021
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    HSBC Asset Management (HSBC AM) has announced the launch of the HSBC GIF Global Equity Sustainable Healthcare Fund, the firm’s first healthcare fund focused on sustainability and impact. The fund will be co-managed by Dr. Nathalie Flury and Dr. Michael Schröter, Co-Heads of Sustainable Healthcare Equity, who both joined HSBC AM earlier this year.

    One of the main sustainability challenges facing the healthcare sector today is cost. As medical costs continue to grow, a basic social need becomes increasingly inaccessible to much of the population. The fund, which is aligned with UN SDG Goal 3, Good Health & Wellbeing, aims to address this challenge and drive social impact without sacrificing on performance. The fund will be fully ESG integrated and invest in a range of 35-40 companies with a bias towards mid-caps, long-term engagement, low turnover and active management interactions. These companies will have a clinical and cost savings focus, aiming to improve healthcare affordability. There will be no fixed allocations across geographies, sub-subsectors, company stages, and/or profitability.

    This strategy will be made available to HSBC’s wealth clients across its private bank and wealth and personal banking segments, in addition to targeting both wholesale and institutional investors with a particular focus on high-net-worth individuals, family offices and private banks.

    Dr. Nathalie Flury and Dr. Michael Schröter, said: “The current healthcare model is not sustainable and patient outcomes are being negatively impacted alongside the industry and investors. This fund aims to address this inequality and invest in companies that are offering different approaches through new treatment options, technology and innovative business models.”

    As healthcare spending consistently outpaces GDP growth across markets, rising costs are straining healthcare systems globally which results in access restrictions. In 2018, global spending on healthcare reached USD 8.3 trillion, or 10per cent of global GDP1. In the US, which accounts for nearly half (42per cent) of global healthcare expenditure total spend is projected to increase by over 50per cent in the next eight years alone2.

    Investing in companies that focus on healthcare innovation can reduce the overall cost for all stakeholders in the system (below). Companies that create new treatments, devices, diagnostics, digital-health and services can all play their part in achieving this.

    • Payers, for example insurers, stay within budget while ensuring quality care for their covered population
    • Doctors have no prescription restrictions imposed by payers
    • Patients have access to best suited treatments for their disease
    • Industry, for example healthcare companies, recovering R&D investments plus profit
    • Investors are appropriately rewarded

    In 2020, HSBC Asset Management set out its strategy to shape the market for sustainable investing through leadership in policy and industry engagement, company engagement, the development of new products and solutions, and by continuing to embed ESG across its investment approach. The firm is supporting the transition overall and in climate critical sectors; creating innovative investment solutions to meet client investment and sustainability goals.

    Notes to editors

    [1] - WHO, ‘Global spending on health 2020: weathering the storm’, Link

    [2] - Bloomberg, Centers for Medicare and Medicaid Services, 2021

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    Portfolio management company authorised by the French regulatory authority AMF (no. GP99026) with capital of 8.050.320 euros, in Italy, Spain and Sweden through the Milan, Madrid and Stockholm branches of HSBC Asset Management (France), regulated respectively by Banca d’Italia and Commissione Nazionale per le Società e la Borsa (Consob) in Italy, the Comisión Nacional del Mercado de Valores (CNMV) in Spain and the Swedish Financial Supervisory Authority (Finansinspektionen) in Sweden.

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