The board of the trust, managed by OrbiMed Capital, says the change in name more accurately reflects the investment trust’s broadened investment policy.
Prior to the change, the trust’s policy was to invest in pharmaceutical, biotechnology and related companies in the healthcare sector. Now the definition of the healthcare sector has been widened to include companies in healthcare equipment and technology and services. (article continues below)
The trust’s benchmark has also been changed from the Datastream World Pharma & Biotech Index to the MSCI World Healthcare Index.