What it does
The fund invests in a maximum of 35 companies at any one time, and there are no restrictions on geographies, market cap or sub-sector.
Another 22% or so is big caps, while small and mid-caps account for more than half of the investments.
Although there are no restrictions on geography, the bulk of BB’s investments are in the US, which is perhaps unsurprising given that the US is home to the world’s biggest pharma market by quite some way.
Top ten holdings as of 29 February:
Bristol Myers Squibb (7.1%)
Intuitive Surgical (5.3%)
Align Technology (5.3%)
Alnylam Pharmaceuticals (4.0%)
Evolent Health (3.8%)
How it is doing
As at 29 February, net asset value was 136.02p, down 5% so far in 2020 but still up 49% since launch.
The 12-month total return was 2.4% and for the past three years was 30.3% versus the MSCI World Health Care index's total return of 25%.
What the boss says: Randeep Grewal, chairman
"Healthcare demand will continue, and that innovation and disruption will create opportunities for investors.."
"The portfolio is positioned to take account of value changes in stocks that are able to capitalise on the changing delivery and capability within healthcare."