Tareno Sustainable Health­care Fund: Oppor­tu­ni­ties in the Health­care Sector

Struc­tural Growth Drivers in the Health­care Sector

The Tareno Sustainable Health­care Fund is aimed at investors who seek to combine long-term growth oppor­tu­ni­ties with economic stabi­lity and who wish to benefit from the struc­tural megatrends in the health­care sector.

Health­care is a funda­mental compo­nent of modern society and is crucial for maintai­ning and impro­ving quality of life. Invest­ments in this sector are supported by strong struc­tural growth drivers, inclu­ding an aging popula­tion, the rising number of chronic diseases due to changing lifestyles, and incre­a­sing health­care spending, parti­cu­larly in emerging markets. At the same time, innova­tion and digita­lization are trans­forming the health­care sector and creating new growth oppor­tu­ni­ties.

However, these demogra­phic and societal megatrends are placing enormous pressure on the global health­care system and call for innova­tion. This is precisely where the fund comes in: The Tareno Sustainable Health­care Fund bridges the gap between growing demand and sustainable solutions. As an SFDR Article 9 fund, it pursues the clear sustainable goal of investing in compa­nies that provide concrete solutions to improve health and well-being, thereby helping to streng­then health­care systems.

Quality, Innova­tion, and Effici­ency

The fund achieves this objec­tive by selec­ting compa­nies with diffe­ren­tiated products and services that speci­fi­cally contri­bute to the impact themes of “Quality,” “Innova­tion,” and “Effici­ency” developed by the invest­ment manager. The focus is on solutions that increase effici­ency, reduce costs, and improve medical care.

The fund invests globally and across all health­care subsec­tors, such as medical techno­logy, pharmaceu­ti­cals, biotech­no­logy, health­care services, life sciences tools & services, and health­care techno­logy. The portfolio is constructed based on a purely bottom-up stock selec­tion process. The weightings of the subsec­tors and count­ries result from the respec­tive stock selec­tion. Invest­ments are made in compa­nies with strong balance sheets, a high return on equity, and diver­si­fied product portfo­lios. Prefe­rence is given to compa­nies that generate high cash flows and reinvest them in a sustainable and profi­table manner.

Health­care as a Diver­si­fi­ca­tion Strategy in a Portfolio

The fund offers investors the oppor­tu­nity to add attrac­tively valued, high-quality compa­nies with long-term growth poten­tial to their portfo­lios. Many compa­nies in the health­care sector are currently trading at attrac­tive valua­tions, offering intere­sting entry oppor­tu­ni­ties.

At the same time, health­care can serve as a defen­sive compo­nent in a portfolio. In a market environ­ment charac­te­rized by high valua­tions and a strong concen­tra­tion on techno­logy, semicon­duc­tors, and AI, the health­care sector can help diver­sify the portfolio and reduce cluster risks. In times of heigh­tened market volati­lity, defen­sive quality stocks can also benefit from portfolio reallo­ca­tions away from more cyclical sectors and those more heavily influenced by market expec­ta­tions.

A focused and sustainable invest­ment approach

The Tareno Sustainable Health­care Fund stands out thanks to its specia­lized team, which combines exten­sive invest­ment experi­ence, deep industry exper­tise, and scien­tific research. With a consi­stent high-convic­tion approach, the portfolio focuses on 30 to 50 selected compa­nies. Funda­mental analysis is comple­mented by a proprie­tary process that syste­ma­ti­cally integrates sustaina­bi­lity into company analysis and links ESG factors to long-term finan­cial value creation. We are convinced that compa­nies that operate sustain­ably are more successful in the long term.