Investing in People and Medicine that Make a Difference

Investing in Medicine

Aescap invests in high-growth companies that develop and market highly innovative medicines.

Aescap 2.0

Aescap 2.0 is an open-end biotech fund for join account (a typical Dutch FGR structure) that exclusively invests in the shares of publicly traded biotech / life sciences companies. It invests in high-growth, highly innovative companies that develop and market new medicines and, to a lesser extent, diagnostics and/or medical devices. Entry into and exit from this biotech fund is possible twice per month.

The biotech market is a large and fast-growing market where breakthrough medicines can be sold globally. The substantial growth of the biotech market, also called life sciences market, is driven by a longer life expectancy (especially in the emerging markets) as well as an ageing population. Both factors are driving demand for improved and cost-effective medicine, diagnostics and medical devices. There is also still a high unmet medical need for diseases like Alzheimer’s, Arthritis, Cancer, Diabetes, Multiple Sclerosis (MS), Obesity, Parkinson’s and many other diseases. Today for approximately 6,000 rare diseases there is still no cure or treatment at all available.

Performance

Our net performance, since inception on March 28th 2016, is +92,0%, which is 1,8x that of the Nasdaq Biotech Index.

Get in touch

Our monthly presentation for interested investors currently is replaced by a webcast. The next webcast will be held on October 7th at 15.00. During the webcast our investment philosophy as well as methodology are discussed by the portfolio manager.

Strategy

Aescap 2.0 has a focused portfolio, investing in around 18 public biotech / life science companies. Most of the companies in our portfolio are based in Europe and the US. Our investment decisions are based on ‘high conviction’, fueled by thorough research and fundamental analyses. In the biotech sector such an analysis especially encompasses product portfolio patent protection, product development risks, market entry barriers, competition and the expected market development. But equally important are the serious efforts we undertake to understand the strengths and weakness of a company’s management, team dynamics, and their view on the future of the company and the markets they serve.

Aescap Team

5-star rating

Morningstar has rated Aescap 2.0 as a 5-star investment fund, the highest possible rating given. Morningstar’s rating has become the industry’s leading standard for determining a fund’s performance (risk/reward) relative to other funds. To rate a fund, Morningstar takes into account the long-term performance (3+ years) and only the top 10% best performing funds will receive a 5-star rating.
See Aescap on Morningstar

Latest News

Aescap 2.0 – Acquisition of Portfolio Company Myokardia

Just after we sent out our Q3 newsletter, we received the news from our portfolio company Myokardia that it will be acquired by big pharma player Bristol Myers Squibb for $13.1 billion in cash. This offer of $225 per share represents a 61% premium from the closing share price last Friday.

Aescap 2.0 Quarterly Update Q3 2020

We would like to see our NAV going up nicely every month, but history shows that is not how it works. While achieving a +71% net outperformance against the market (NBI), fluctuation is inevitable. This is further illustrated by the graph below. The decline of 11% over Q3 is partially due to the weakening of

Aescap 2.0 Quarterly Update Q2 2020

The fund’s net performance over the second quarter was +22,2%. The sector is regaining interest from generalist investors and this might be the start of a broader inclusion of public biotech as a fixed position in their investment portfolios, as well as those of wealth managers.

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