Aus Unity to launch healthcare fund
Australian Unity has launched the Future of Healthcare fund which will invest in venture capital and private equity, domestic and international equities, and infrastructure and real estate relevant to health.
Rohan Mead, Australian Unity group managing director, said Australia needed purpose-driven investments that addressed the country’s ageing population, the rise of chronic and non-communicable disease, disability, mental health, and the shortage of social and medical infrastructure.
“The Future of Healthcare fund is a natural progression for Australian Unity; it builds on our past, brings together our unique capability, and will enhance the wellbeing of Australians through investment in preventative and remedial healthcare and health associated businesses and assets,” Mead said.
Joe Fernandes, Australian Unity Wealth and Capital Markets chief investment officer, said the fund would draw on Australian Unity’s breadth of expertise and long-established capability in the health sector.
“As an investment manager, we’re ideally placed to bring together Australian Unity’s experience and insights from its diversified businesses across private health insurance, healthcare, aged care, healthcare property, social infrastructure, funds management and venture capital,” Fernandes said.
Victor Windeyer, portfolio manager for the fund, said it would actively contribute to the future capacity of the healthcare sector through its investments which would benefit the wellbeing of Australians.
“A great example of the fund’s impact on all Australians is the first investment it has agreed to make in Lumos Diagnostics – a medtech that helps healthcare professionals more accurately diagnose and manage medical conditions,” Windeyer said.
“One of Lumos' most exciting products is a test that tells doctors within 10 minutes if their patient has a viral or bacterial infection which can be used to help triage patients at the point of care and avoid unnecessary use of antibiotics.
“Lumos is an example of a company that could do well not only for investors in the fund but also for improving community wellbeing and we look forward to investing in many more exciting healthcare initiatives over time.”
AUTHOR
Chris Dastoor
Recommended for you
Milford Australia has welcomed two new funds to market, driven by advisers’ need for more liquid, transparent credit solutions that meet their strong appetite for fixed income solutions.
Perennial Partners has entered into a binding agreement to take a 50 per cent stake in Balmoral Investors and appoint it as the manager of Perennial's microcap strategy.
A growing trend of factor investing in ETFs has seen the rise of smart beta or factor ETFs, but Stockspot has warned that these funds likely won’t deliver as expected and could cost investors more long-term.
ASIC has released a new regulatory guide for exchange-traded products (ETPs), including ETFs, on the back of significant growth in the market.
