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The health care sector has been hit or lots of misses for me over the years and I've settled on just one that I care to hold longer term - FSMEX.
@Bobby: I think it's laudable to add to a fund that has been punished by fickle investors. I have a decent chunk in BHCFX, to which I've added this Fall.
The biotech CEF, HQL, has been pummeled with the assets declining to the point where the fund trades at a small discount, whereas it has traded at a usual discount of around 8%. I see this discount shrinkage as quite unusual because it is not due to increased demand for the shares.
It’s not surprising that the whole biotech sector is under pressure when one its guiding lights really screws up. The report talks of 1000 layoffs at Biogen and great disruption. There’s a link in the report to an in depth published article on the debacle in STAT.
The Times reported on Sunday that a large chunk of the contemplated increase in Medicare Part B premiums is due to the projected cost of this new drug, which according to many, does not work.
I've owned the fund for a long time, and the key to me has been to buy it and forget it. An investment in a health sector fund is definitely a long term (10+ years) prospect.