Polar Capital Healthcare Opportunities

Introduction to the fund

Gareth is part of a team of eight working on healthcare, many of them with many years of healthcare experience. They take a multi-cap approach, investing globally across pharmaceuticals, biotechnology, services and medical devices. They look for themes in the market and identify companies that are reasonably priced and with good growth prospects. Potential stock ideas are put through rigorous analysis utilising their network of physician and consultant contacts, company meetings, investor conferences and medical meetings. This leads to a concentrated portfolio of 40-45 stocks. Whilst they mainly invest in larger-cap stocks for liquidity, there is also a focus on smaller companies, which offer considerable upside and have helped the fund to outperform.

Fund manager

Gareth Powell

Gareth Powell joined Polar Capital in 2007 to set up the healthcare team. He started his career in investment management with Framlington (now part of AXA) in 1999 and became the manager of the Framlington Health fund in 2002. He also helped to launch the Framlington Biotech fund, which he managed from 2004 until his departure. Gareth studied biotechnology at Oxford and, as part of his course, worked at a leading Japanese pharmaceutical company. Gareth has also worked at various academic laboratories, including the Sir William Dunn School of Pathology, The Wolfson Institute for Medical Research and Oxford Business School.

Opinion on fund

The healthcare sector is a broad collection of different companies, some with vital business operations. As such, it requires specialist skills which this fund has in its management. The fund itself offers a blended portfolio, and an investor can get exposure to everything from stable, big pharmaceuticals, to the best biotechnology opportunities. The fund’s unconstrained and concentrated approach offers a great opportunity for investors to get specialist exposure.

Fund performance

Documents

Key facts

  • Fund size

    £1,642.5m

  • Chelsea rating

    Buy

  • Core Selection

    No

  • Chelsea Risk Rating

    8

  • AMC

    1%

  • OCF

    1.10%

  • Unit Type

    Inc

  • Yield

    –

  • FundCalibre rating

    Elite Rated

How to invest

Once you know where you want to invest, there are a number of ways you can invest:

  • Log in here and process your instruction
  • Call us on 020 7384 7300 to buy over the phone or request an application form
  • Download an application form and post it to us, along with a cheque
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Important information

Source: Performance data sourced from FE Analytics (IA universe). Yield figures (per annum), Fund Size data and AMCs/OCFs are as at 23/01/2026 unless otherwise stated.

The performance graph, factsheets and Key Investor Information Document is provided by FEfundinfo, and updated on a daily basis.

Some funds listed are off shore-domiciled and subject to different regulations. Off shore funds typically do not offer investor compensation under the UK Financial Services Compensation Scheme (FSCS).

Performance history extended by FE fundinfo to illustrate the fund’s longer-term record.

Sector rankings calculated from multiple underlying sectors; certain funds remain unranked due to limited comparability.

Funds assigned to an alternative IA sector; sector rankings may differ accordingly.

The information provided is based on our proprietary qualitative and quantitative research. Whilst reasonable efforts have been taken to ensure accuracy, Chelsea Financial Services cannot guarantee that the information is free from errors, omissions, or inaccuracies.

This information does not constitute investment advice and should not be interpreted as a recommendation to invest in any fund listed. Past performance is not a reliable indicator of future returns.

Please read the full Important Notice on page 2 of the FundReview 2025 carefully before making investment decisions.

Whilst every effort has been made to ensure the accuracy of this information, Chelsea Financial Services takes no responsibility for any errors, omissions or inaccuracies contained therein. The funds within the Chelsea Selection are based on our proprietary research, which is both qualitative and quantitative. Please note this is not investment advice, nor does it imply that you should invest in this fund. Past performance is a not a guide to future returns.

To find out more about our Chelsea Risk Rating, please visit our dedicated page.

The AMC (annual management charge) is paid to the fund management company for managing the fund. It is calculated as a percentage of the value of the fund. The AMC is less than the Ongoing Charges Figure (OCF).

The OCF (ongoing charges figure): The cost includes the AMC and other fees such as registration, regulatory, audit and legal fees but does not include transaction costs and performance fees.