Part 1: Healthcare after the Pandemic with Paul Major, BB Healthcare Trust

The Art of Investment

The world’s population is getting older. Today 1 in 11 people are aged over 65 yet it is estimated this could rise to 1 in 6 by 2050. But is the healthcare system built to cope with this increasing level of demand? Our incredible doctors, nurses, scientists, and researchers have saved millions of lives over the last 18 months but what areas of the healthcare system need investment? How does one go about investing in the healthcare space, surrounded by risks such as drug pricing reform in the US, and the threat from the big technology companies?

I pose these questions to Paul Major, co-Manager of the BB Healthcare Trust, a £1billion investment trust that is listed on the FTSE250. It aims to grow capital and income for its shareholders by investing in a concentrated portfolio of healthcare companies on a global basis.

In part one of this two-part series, I ask Paul whether we are through the worst of the pandemic and whether we can finally put this tragedy behind us (3.30). Why is the healthcare sector an attractive one to invest into (9.29), what is the BB Healthcare’s team philosophy and investment process (17.15)? Paul and the team adopt an unconstrained approach and have been underweight Big Pharma for some time, I ask him why (21.32). Market leadership has changed significantly before and after the vaccine announcements, how did the team manage the investments throughout that period (31.25)?

Paul Major: http://www.bbhealthcaretrust.com/en/about-us/investment-team-portfolio-manager

Paul Dixey: https://www.linkedin.com/in/paul-dixey/