Source: Wall Street News Author: Jia Er
The combination adjustment is innovative.
Gülen, which is good at investing in pharmaceuticals, has released its quarterly report, just at a time when pharmaceutical stocks are getting more and more attention.
Gülen said in the fourth quarterly report of the China-Europe Healthcare Fund that in the fourth quarter, the fund continued to focus on core innovative drugs, innovative devices, innovative industrial chains, medical services, and consumer medicine. These assets are expected to benefit from the positive development of the domestic innovative drug industry chain and the general trend of improving the industry environment.
Looking ahead to the first quarter of 2024, Gülen believes that the global investment and financing environment is expected to gradually recover after the interest rate hike cycle, the domestic policy side may remain stable, and the industry's understanding of the impact of compliance will become more clear. Despite differences in the base numbers between different sub-sectors, it is believed that the pharmaceutical industry as a whole will maintain a steady growth trend, and the driving force for long-term growth of excellent companies has not changed significantly. The supply and demand pattern in the healthcare industry is expected to improve further.
On the supply side, innovation is still an important driving force. Since then, the indications for mature targets have gradually expanded, and the concept of new targets continues to be verified, all providing a broad space for innovative pharmaceutical companies to grow. In terms of therapies, cutting-edge therapies such as gene editing and cell therapy continue to make breakthroughs, and future commercialization prospects are worth paying attention to.
On the demand side, residents' demand for consumer medical care and medical services is also growing rapidly. In 2023, R&D breakthroughs in fields such as weight loss and Alzheimer's disease became the focus of industry attention. Some application markets gradually opened up, but there are still many clinical needs that have not been fully met, including the convenience and comfort of medication, which also has great clinical value.
Along with the evolution of the population cycle and structure, the spectrum of human diseases continues to change. The corresponding total domestic and even global market demand is still huge, and there is plenty of room for growth in innovative drugs and innovative devices.
Looking at the mix, in the fourth quarter of last year, Gülen made some adjustments to the investment targets of its funds.$Topchoice Medical (600763.SH)$Withdrew from the list of the top ten major stocks in medical innovation between China and Europe,$AKESO (09926.HK)$Newcomer.
Furthermore, in the stock of heavily held stocks,$Aier Eye Hospital Group (300015.SZ)$,$TIGERMED (03347.HK)$,$Jiangsu Hengrui Pharmaceuticals (600276.SH)$There were many holdings reductions. Among them, Hengrui continued to approach 10% after reducing its holdings, indicating that the stock may have been passively reducing its holdings after rising during the quarter.
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