Important Information

      I. Value Partners Health Care Fund (the "Fund") primarily invests in equities and equity-related securities in healthcare companies on a worldwide basis.
      II. The investments of the Fund are concentrated in the health care sector which are subject to greater influences from government policies and regulations than those of other industries. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
      III. Investing in PRC market exposes the Fund to additional risks including currency repatriation risk, uncertainty of taxation policies and risk associated with Stock Connects. The Fund may also expose to RMB currency and conversion risk.
      IV. Investing in small/mid-capitalization securities may have lower liquidity and their prices are more volatile to adverse economic developments.
      V. The Fund may also invest in derivatives and debt securities that are below investment grade or unrated which can involve material risks, e.g. counterparty default risk, insolvency or liquidity risk, and may expose the Fund to significant losses.
      VI. You should not make investment decision on the basis of this marketing material alone. Please read the prospectus for details and risk factors.
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Invest Like a Game of Chess
Chess Master Lau Kong applies the game's strategy and tactics to investing, and identifies the enormous potential of China's healthcare industry. Players around the world has come to learn about Lau's style. But a contender stands in the way: The unbeatable Chess Queen has come a long way to challenge him, and the outcome is unexpected. Watch now to learn about the game of China health care industry.
Our "All-China"
investment strategy

adopts a flexible approach
in covering Hong Kong stocks, China's A-shares and U.S.-listed Chinese company
The fund covers the
four main subsectors

pharmaceuticals, drug distribution,
medical equipment & healthcare services
6-year of proven track record
with a total return of +55.4%1 since its inception
Why invest in Value Partners Health Care Fund?
Enormous demand fueled by demographic changes

  • Aging in China is accelerating. It is projected that the number of people aged 65 and over will reach 205 million by 2025 (14% of the total population); doubling to 366 million by 2050 (26% of the total population)2
  • China lags behind the developed countries in medical spending per capita, implying immense expansion room for the medical-related sectors
China’s health expenditure per capita is only 6.3% of that in the U.S.

Sources: Statistia, OECD, as at 31 December 2020

Speedy takeoff of Chinese healthcare industry

  • Hong Kong- and Mainland China-listed healthcare companies continue to rise both in number and market capitalization. The growth potential in this sector cannot be ignored given the growing opportunities in this space
  • China's healthcare sector has a more positive profit outlook than the overall market, with profits expected to grow 24.2% in 2022. The Pharmaceuticals, Biotech and Life Science sector is expected to fare even better, with profits expected to rise 27.0%, which compares with 13.2% of the MSCI China Index3
Healthcare companies have become increasingly important in Hong Kong and Chinese markets

Source: Morgan Stanley, HKEX, and WIND, as at 31 December 2021

Finding pleasure in lower volatility

  • The fund has achieved an annualized return of +6.8%1 since its inception. Over the same period, it leveraged on lower volatility4 to match the performance of the MSCI China All Health Care 10/40 Index, and to outperform the CSI 300 Index
  • Presence in Shanghai and Hong Kong enables us to conduct in-depth equity research, closely monitor industry developments, and maintain a robust network of medical experts

Source: Morningstar, Value Partners, as at 31 December 2021

For more details, please contact your bank or investment consultant. You may also contact our Fund Investor Services Team.

Hotline: +852 2143 0608
Other fund in focus:
Related investment insights:
1. Source: Morningstar. Value Partners Health Care Fund (“the Fund”) (Class A USD Unhedged) was launched on 2 April 2015. Total return since launch (as at 31 December 2021): +55.4%. Calendar year return in the past five years: 2016: +1.9%; 2017: +20.8%; 2018: -5.4%; 2019: +21.0%; 2020: +34.4%; 2021: -14.8%. 2. Source: Population pyramid, as at 21 February 2022. 3. Source: FactSet, I/B/E/S, MSCI, CSI, as at 11 February 2022. 4. Volatility is a measure of the theoretical risk in terms of standard deviation, based on monthly return over the past 3 years. The views expressed are the views of Value Partners Hong Kong Limited (“Value Partners”) only and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All materials have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. This material contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

Value Partners Health Care Fund (the "Fund") is a sub fund of Value Partners Ireland Fund ICAV (the "ICAV"), an open-ended umbrella type Irish Collective Asset-management Vehicle with variable capital and segregated liability between funds authorised by the Central Bank of Ireland (“Central Bank”) as a UCITS pursuant to the UCITS Regulations. The ICAV is both authorised and supervised by the Central Bank. Authorisation of the ICAV by the Central Bank shall not constitute a warranty as to the performance of the ICAV and the Central Bank shall not be liable for the performance or default of the ICAV. The authorisation of the ICAV is not an endorsement or guarantee of the ICAV by the Central Bank. Investors should read the final Prospectus (including the Supplement and Key Investor Information Document) prior subscription. Such documents are available at Investors should note that the Fund is not a guaranteed fund. Investment involves risk. The price of units may go down as well as up and past performance is not indicative of future results. Investors should read the prospectus for details and risk factors in particular those associated with investment in emerging markets. Changes in exchange rates may have an adverse effect on the value price or income of the Fund. Investors should also be aware that the Fund may be subject to sudden and large falls in value, in which case investors could lose the total value of their initial investment. This material has not been reviewed by the Securities and Futures Commission of Hong Kong. Issuer: Value Partners Hong Kong Limited.