FCP OP MEDICAL BioHealth Trends FCP OP ... - Sal. Oppenheim

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HEALTHCARE MARKET Sector rotation: Health Care Market outperforming 30% 20% 10% 0% -10% -20% -30% -40% REASONS COMPARISION OF INDEX PERFORMANCE (USD) Indexed representation: 06/30/2011 = 0% -50% 50% 06/11 07/11 08/11 09/11 10/11 11/11 12/11 01/12 02/12 03/12 04/12 05/12 06/12 � Health care as defensive investment � Low PE ratios within the Large Cap-Segment / High dividend yields � Innovation as emerging investment theme NASDAQ Biotech Index AMEX Pharma Index S&P 500 Index EURO STOXX 50 Index (in USD) Source: Datastream As of: 06/30/2012 Past Performance is no indicator of future performance and not a guarantee of future success. 06/30/2012| Page 6 <strong>Oppenheim</strong> Asset Management Services S.à r.l.
HEALTHCARE MARKET Why invest in the healthcare sector? Number of Alzheimer A patients (m) ( Medicare costs (in USD bn) Number of Alzheimer patients in the USA (in m, left scale) 16 1400 14 13,5 1200 12 1000 1000 10 8 800 6 4,5 5,6 600 4 241 400 2 0 Potential savings (in USD bn) 20-50 * 2004 2020 2050 Forecast Innovative drugs g can ggenerate high g ppotential savings g 200 0 Medicare costs (UUSD bn) Pootential savings (UUSD bn) *According to the Lewin Group model. Higher potential savings are expected if a drug 118 118-401* 401* 500 iis ddeveloped l dthat h can ddelay l 400 300 200 100 0 onset of the disease; the potential savings are lower if a drug merely slows down the progression of the disease. The greatest saving is achieved if both are possible. Source: Alzheimer’s Association As of: 2010 06/30/2012| Page 7 <strong>Oppenheim</strong> Asset Management Services S.à r.l.
Page 1 and 2: OPPENHEIM ASSET MANAGEMENT SERVICES
Page 3 and 4: FUND ORIENTATION Small and mid-cap
Page 5: FUND ORIENTATION The investment spe
Page 9 and 10: HEALTHCARE MARKET Growth through in
Page 11 and 12: HEALTHCARE MARKET Pharma-equities:
Page 13 and 14: HEALTHCARE MARKET Big-Biotech-Equit
Page 15 and 16: INVESTMENT PROCESS Basis for a succ
Page 17 and 18: INVESTMENT PROCESS Example case: Im
Page 19 and 20: GROWTH IN DIFFERENT MARKET PHASES C
Page 21 and 22: GROWTH IN DIFFERENT MARKET PHASES C
Page 23 and 24: STOCKPICKING AND PORTFOLIO STRUCTUR
Page 31 and 32: PERFORMANCE Multiple awards SAUREN
Page 33 and 34: PERFORMANCE Performance: FCP OP MED
Page 35 and 36: PERFORMANCE Share class EUR H far-r
Page 37 and 38: PERFORMANCE FCP OP MEDICAL BioHealt
Page 39 and 40: SUMMARY Current arguments in favour
Page 41 and 42: OUTLOOK FCP OP MEDICAL BioHealth-Tr
Page 43 and 44: OUTLOOK Basis for outperformance of
Page 45 and 46: ANNEX: FUND DATA AND NOTE ABOUT RIS
Page 47: Disclaimer Management company: Oppe

FCP OP MEDICAL BioHealth Trends FCP OP ... - Sal. Oppenheim

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