Rhenman & Partners Asset Management AB

Rhenman Healthcare Equity L/S

Strategy Description

Rhenman Healthcare Equity L/S is a global long-biased equity fund with an exclusive focus on healthcare. Because the United States is a dominant player within healthcare, the fund’s equity allocation is usually two-thirds in the United States and one-third in the rest of the world. The spread is normally roughly a quarter in each sub-sector (pharmaceuticals, biotechnology, medical technology, and service). The hedge fund’s free investment rules offer far greater opportunities compared to conventional mutual funds. The fund diversifies across company sizes, various sub-sectors and geographies to lower volatility, and has an absolute return target.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureAlternative Investment Fund
Fund DomicileLuxembourg
Minimum Investment250,000 EUR
AUM882M EUR
Inception DateJun 2009
Management Fee1.50%
Performance Fee20.00%

Company Information

CompanyRhenman & Partners Asset Management AB
PrincipalHenrik Rhenman
Investor RelationsErica Nordström Löf
AddressStrandvägen 5A
Stockholm, 114 51
Phone+46 (0)8 459 88 80
E-mail[email protected]
Websitewww.rhepa.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 5.66 4.72 3.25 -4.15 9.49
2023 2.02 -2.16 -2.78 3.33 1.39 1.68 -2.19 0.31 -3.00 -5.46 7.06 8.35 7.89
2022 -11.76 0.50 5.60 -4.53 -4.54 2.27 8.65 -1.06 -3.08 5.49 2.57 -6.75 -8.25
2021 1.32 0.57 3.63 1.68 -1.06 5.04 -1.38 1.95 -4.62 5.51 -8.50 9.23 12.84
2020 -4.20 -3.18 -14.76 16.99 10.92 0.78 -3.73 4.00 4.36 -2.68 6.34 4.77 17.14
2019 14.33 2.49 -1.43 -6.01 -0.61 10.06 3.07 -4.13 -5.51 6.47 12.97 5.07 40.12
2018 6.89 0.01 -1.82 -0.43 6.26 -0.31 4.32 6.86 -0.76 -11.44 4.96 -16.68 -5.15
2017 5.21 11.28 4.33 0.29 -8.98 9.79 -1.52 4.32 1.06 -1.06 5.02 1.87 34.53
2016 -18.50 -5.40 -0.22 5.03 7.05 -2.91 9.45 -2.61 1.74 -11.67 8.47 0.84 -12.01
2015 11.02 7.15 6.99 -6.16 10.08 -1.54 4.45 -10.95 -12.64 8.35 7.09 -1.60 20.09
2014 6.94 5.01 -5.34 -5.54 5.32 5.32 0.50 7.45 2.43 7.28 3.83 4.08 42.82
2013 6.29 5.44 7.75 3.39 5.39 -3.14 11.52 -0.98 4.38 -3.34 9.31 0.05 55.29
2012 5.82 1.10 3.83 0.52 -0.15 6.00 1.05 0.00 2.94 -5.16 2.81 -1.50 18.08
2011 -0.98 2.26 -0.75 3.60 5.05 -3.71 -0.83 -6.89 -0.90 6.25 1.44 5.58 9.66
2010 4.09 1.72 6.33 -4.09 -11.10 -2.14 -3.35 -0.20 7.13 2.01 3.58 5.65 8.34
2009 0.75 4.41 2.17 0.33 -6.34 4.66 7.17 13.28

Portfolio Managers

Henrik Rhenman, founding partner and chief investment officer at Rhenman & Partners Asset Management, has over 30 years of asset management experience within the healthcare sector both in Sweden and the United States. Rhenman was the founder and chief investment officer of Carnegie Healthcare Funds at Carnegie Investment Bank between 1999 and 2008. Before that, he spent two years as managing director and portfolio manager at SG Cowen and also served as portfolio manager at SEB Pharmaceutical Fund between 1991 and 1997. He studied Biochemistry from the Royal Institute of Technology and holds a B.Sc. Degree from Stockholm School of Economics.

Family of Funds

Company Programs

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -31.67% 8 20 08/2015 11/2017
2 -23.14% 4 11 09/2018 11/2019
3 -20.94% 3 2 01/2020 05/2020
4 -19.52% 5 8 04/2010 04/2011
5 -14.71% 24 3 11/2021 01/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.20%4.07%1.38%0.81%0.36%
% Positive66.67%83.33%66.67%58.33%55.56%
Avg. Pos. Period3.98%5.81%4.05%4.05%4.23%
Avg. Neg. Period-4.15%-4.15%-3.70%-3.52%-4.19%
Sharpe Ratio1.143.551.180.720.34
Sortino Ratio1.738.312.121.120.37
Monthly Volatility3.88%4.05%4.32%4.34%4.98%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.99%-18.50%1.44%1.87%-4.15%62.57%
3 Months 30.78%-24.13%4.37%5.45%3.63%69.49%
6 Months 47.55%-27.61%8.61%9.73%27.01%74.14%
1 Year 77.55%-27.41%17.53%17.44%17.81%78.57%
2 Years 135.41%-14.71%39.75%29.09%21.24%91.67%
3 Years 208.79%7.29%68.00%52.26%13.92%100.00%
5 Years 363.40%17.37%138.32%133.80%84.94%100.00%

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Strategy Description

Rhenman Healthcare Equity L/S is a global long-biased equity fund with an exclusive focus on healthcare. Because the United States is a dominant player within healthcare, the fund’s equity allocation is usually two-thirds in the United States and one-third in the rest of the world. The spread is normally roughly a quarter in each sub-sector (pharmaceuticals, biotechnology, medical technology, and service). The hedge fund’s free investment rules offer far greater opportunities compared to conventional mutual funds. The fund diversifies across company sizes, various sub-sectors and geographies to lower volatility, and has an absolute return target.

Fund Information

General Information

NHX CategoryEquities
NHX CountrySweden
Legal StructureAlternative Investment Fund
Fund DomicileLuxembourg
Minimum Investment250,000 EUR
AUM882M EUR
Inception DateJun 2009
Management Fee1.50%
Performance Fee20.00%

Company Information

CompanyRhenman & Partners Asset Management AB
PrincipalHenrik Rhenman
Investor RelationsErica Nordström Löf
AddressStrandvägen 5A
Stockholm, 114 51
Phone+46 (0)8 459 88 80
E-mail[email protected]
Websitewww.rhepa.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 5.66 4.72 3.25 -4.15 9.49
2023 2.02 -2.16 -2.78 3.33 1.39 1.68 -2.19 0.31 -3.00 -5.46 7.06 8.35 7.89
2022 -11.76 0.50 5.60 -4.53 -4.54 2.27 8.65 -1.06 -3.08 5.49 2.57 -6.75 -8.25
2021 1.32 0.57 3.63 1.68 -1.06 5.04 -1.38 1.95 -4.62 5.51 -8.50 9.23 12.84
2020 -4.20 -3.18 -14.76 16.99 10.92 0.78 -3.73 4.00 4.36 -2.68 6.34 4.77 17.14
2019 14.33 2.49 -1.43 -6.01 -0.61 10.06 3.07 -4.13 -5.51 6.47 12.97 5.07 40.12
2018 6.89 0.01 -1.82 -0.43 6.26 -0.31 4.32 6.86 -0.76 -11.44 4.96 -16.68 -5.15
2017 5.21 11.28 4.33 0.29 -8.98 9.79 -1.52 4.32 1.06 -1.06 5.02 1.87 34.53
2016 -18.50 -5.40 -0.22 5.03 7.05 -2.91 9.45 -2.61 1.74 -11.67 8.47 0.84 -12.01
2015 11.02 7.15 6.99 -6.16 10.08 -1.54 4.45 -10.95 -12.64 8.35 7.09 -1.60 20.09
2014 6.94 5.01 -5.34 -5.54 5.32 5.32 0.50 7.45 2.43 7.28 3.83 4.08 42.82
2013 6.29 5.44 7.75 3.39 5.39 -3.14 11.52 -0.98 4.38 -3.34 9.31 0.05 55.29
2012 5.82 1.10 3.83 0.52 -0.15 6.00 1.05 0.00 2.94 -5.16 2.81 -1.50 18.08
2011 -0.98 2.26 -0.75 3.60 5.05 -3.71 -0.83 -6.89 -0.90 6.25 1.44 5.58 9.66
2010 4.09 1.72 6.33 -4.09 -11.10 -2.14 -3.35 -0.20 7.13 2.01 3.58 5.65 8.34
2009 0.75 4.41 2.17 0.33 -6.34 4.66 7.17 13.28

Portfolio Managers

Henrik Rhenman, founding partner and chief investment officer at Rhenman & Partners Asset Management, has over 30 years of asset management experience within the healthcare sector both in Sweden and the United States. Rhenman was the founder and chief investment officer of Carnegie Healthcare Funds at Carnegie Investment Bank between 1999 and 2008. Before that, he spent two years as managing director and portfolio manager at SG Cowen and also served as portfolio manager at SEB Pharmaceutical Fund between 1991 and 1997. He studied Biochemistry from the Royal Institute of Technology and holds a B.Sc. Degree from Stockholm School of Economics.

Family of Funds

Company Programs

Return Statistics

Last Month Return -4.15%
3 Month Return 3.63%
Year to Date Return 9.49%
12 Month Return 17.81%
36 Month Return 13.92%
Total Return Annualized 16.33%
Winning Months (%) 62.57%
Average Winning Month 4.95%
Average Losing Month -4.50%
Total Return Cumulative 854.19%

Risk Statistics (12M)

1 Year
Sharpe Ratio1.18
Sortino Ratio2.12
Sterling0.89
Calmar1.78
Skewness-0.05
Kurtosis-0.63
Maximum Drawdown-10.03%
Correlation vs S&P 5000.75
Annualized Volatility14.97%
Annualized Down. Deviation4.27%

Risk/Return Comparison

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -31.67% 8 20 08/2015 11/2017
2 -23.14% 4 11 09/2018 11/2019
3 -20.94% 3 2 01/2020 05/2020
4 -19.52% 5 8 04/2010 04/2011
5 -14.71% 24 3 11/2021 01/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.20%4.07%1.38%0.81%0.36%
% Positive66.67%83.33%66.67%58.33%55.56%
Avg. Pos. Period3.98%5.81%4.05%4.05%4.23%
Avg. Neg. Period-4.15%-4.15%-3.70%-3.52%-4.19%
Sharpe Ratio1.143.551.180.720.34
Sortino Ratio1.738.312.121.120.37
Monthly Volatility3.88%4.05%4.32%4.34%4.98%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.99%-18.50%1.44%1.87%-4.15%62.57%
3 Months 30.78%-24.13%4.37%5.45%3.63%69.49%
6 Months 47.55%-27.61%8.61%9.73%27.01%74.14%
1 Year 77.55%-27.41%17.53%17.44%17.81%78.57%
2 Years 135.41%-14.71%39.75%29.09%21.24%91.67%
3 Years 208.79%7.29%68.00%52.26%13.92%100.00%
5 Years 363.40%17.37%138.32%133.80%84.94%100.00%

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.