Castrol Pharmaceuticals & Health Equity A?(Fund Code: 005303), as of January 07, 2020, is open for subscription, open for redemption, and open for fixed deposit.
On January 06, 2020, the fund's unit NAV was $1.2472, and the cumulative NAV was $1.2472, with a daily gain/loss of -0.65%. The subscription price on January 07, 2020 was the previous day's unit NAV, which was $1.2472.
On Jan. 06, 2020, the fund returned: 1.55% in the last 1 week; 1.71% in the last 1 month; 62.59% in the last 1 year; and 0.07% year-to-date.
Extended Information
Manager's Investment Review and Outlook
(Data cut-off date: 2019-09-30, data source: 2019 Q3)
The macro-economy continued its downward spiral in the third quarter, despite the fact that various data (industrial value added, exports, investment, consumption, etc.) trending downward, and the U.S.-China trade talks have entered the deep water of the game, but the overall liquidity is loose, and the overall performance of the broad market is flat and differentiated.
From a stylistic point of view, GEM and SMB rebounded significantly in the third quarter after the second quarter retracement, outperforming the market and large-cap stocks. Industry-wise, the TMT sector and the consumer sector stood out, with electronic components, pharmaceuticals, computers and food and beverages leading the way. During the reporting period, the SSE Composite Index fell 2.47%, CSI 300 fell 0.29%, the SME Index rose 5.62% and the GEM Index rose 7.68%.
Pharmaceutical industry in the third quarter of the top performers, and pharmaceutical procurement policy is better than the market pessimistic expectations, the industry as a whole solid midterm report, the existence of a number of over-expected stocks have a relationship. CSI Pharmaceutical Index rose 5.28% in the third quarter, CITIC Pharmaceutical Index rose 6.86%, Shenwan Pharmaceutical Index rose 6.36%, the Hang Seng Healthcare Index rose 5.0%, the Hong Kong stock market performance is weaker than the A-share market.
From a sub-sector perspective, healthcare services was the best performer, posting an absolute return of more than 20% in a single quarter, followed by the chemical and biopharmaceutical subsectors, which also posted gains of more than 9%. The Fund focuses on the medium to long term and is committed to finding high quality pharmaceutical companies that can bring investors high returns in the long term; and allocating to leading companies in various subsectors that benefit from the new cycle of the industry and are in line with the development trend of the industry.
Long-term still optimistic about the sustained growth of innovative drugs, as well as biopharmaceuticals, medical services and pharmaceutical retail segments of the investment opportunities; medium-term perspective, innovative drug industry chain benefited from the pharmaceutical industry R & D investment increase and international industry transfer, medical device segment leading benefit from import substitution, vaccines benefited from the approval of the large varieties and the upgrading of consumption is the focus of attention to the direction.
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