Stock price when the opinion was issued
Tracks the S&P 1200 Global Health Care Sector Index. Large and diversified pharma, biotech, medical devices, health services. Giant scope. Names such as JNJ, UNH, PFE. Healthcare is often defensive, tailwind of aging population.
This sector's been a laggard, some of the names have really been hurt, so maybe there's a catchup trade. When we're in an environment of high beta and high growth, money rotates out of the defensive sectors.
An interesting way to play the sector. You're not chasing performance, and you're doing it in a balanced way. Good sector for this strategy, as it's not as economically sensitive as others.
Have some that's written and some that's not, so you don't give up all the upside. Healthcare hasn't participated in the market rally, but things should normalize with clarity in the US. Demographic trend is pretty good.