Strategy

Paging Dr Alpha

The pandemic has boosted secular growth drivers behind healthcare as an investment theme...
William Heathcoat Amory
Last update 07 April 2021

This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. This material should be considered as general market commentary.

Adversity promotes innovation. It is possible that the mRNA developments pioneered by BioNTech and Moderna, as well as ways of working, living and communicating – all advanced by lockdowns, could usher in a new era for healthcare. In our view, there are few investment areas with such strong secular growth trends. Aside from innovation, the sector stands to benefit from multi-decade tailwinds including rising middle classes and ageing demographics. With underlying valuations for the sector looking unstretched relative to the wider equity market, we review the evidence for the sector as a whole and take a look at the AIC’s Biotechnology & Healthcare sector constituents.

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