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Welcome to our September update. While the summer sunshine is fading away, the light shines brightly on the healthcare sector, as a confluence of factors begin to re-energize investor returns in certain areas as fundamentals improve. <br /> <br /> Further positive-sounding progress has been made on US drug pricing and pharma tariffs. While one cannot describe two vague agreements as definitive, the base case for now is a much better one than anyone imagined a few months ago, and the Administration's openness to horse trading for quick results augurs well for a soft landing. <br /> <br /> The healthcare sector has felt unloved and ignored for most of the year. Recent agreements with selected pharma companies on pricing and tariff matters argue strongly for a reconsideration, as does the current over-concentration of investor weightings toward technology, and the relative valuation opportunity in our sector remains compelling, as the trust's net asset value (NAV) performance in the first half of October attests.

Bellevue Healthcare Trust Factsheet September 2025

Welcome to our September update. While the summer sunshine is fading away, the light shines brightly on the healthcare sector, as a confluence of factors begin to re-energize investor returns in certain areas as fundamentals improve.

Further positive-sounding progress has been made on US drug pricing and pharma tariffs. While one cannot describe two vague agreements as definitive, the base case for now is a much better one than anyone imagined a few months ago, and the Administration's openness to horse trading for quick results augurs well for a soft landing.

The healthcare sector has felt unloved and ignored for most of the year. Recent agreements with selected pharma companies on pricing and tariff matters argue strongly for a reconsideration, as does the current over-concentration of investor weightings toward technology, and the relative valuation opportunity in our sector remains compelling, as the trust's net asset value (NAV) performance in the first half of October attests.
27.10.2025
#Healthcare Global