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H.A.T - Healthcare & Applied Technologies Fund

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Market Outlook

The global health care sector continues to develop in accordance with the new challenges presented by the ongoing pandemic, which continues to dominate health care systems’ attention and resources. The current situation is shifting the paradigm of where care is provided, rapidly scaling virtual health services and promoting partnerships to produce the required vaccines and treatments. A breakthrough innovation in the biopharma industry, particularly in oncology, immunology, and certain rare disorders, is generating massive opportunities for investors. The increase in chronic diseases, such as arthritis, liver inflammation, cancer, renal pathologies, diabetes, chronic pain, and other nervous disorders is pulling the demand for medical devices with clear consequences on the relevant market. In this respect, we believe the healthcare sector is well positioned to weather the short-term uncertainty and benefit from the long-term structural growth.

Performance Report
- April 2022

The Portfolio performance benefitted from the low beta (0.81) of the equity proportion, limiting the losses caused by the current market volatility. In particular, the Portfolio registered a +3.8% variation during the first quarter of 2022, outperforming the benchmark (S&P 500 Health Care Index) by almost 500 basis points.

These variations were led by strong performances in the Equity and ETFs holdings, which registered significant returns, while the Fixed Income proportion (10% of the total capital) reported a -2.6% during Q1.

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