Skandia Investment Group has selected OrbiMed Capital to manage the Skandia Healthcare Fund.

As part of the mandate, OrbiMed will manage the Skandia Healthcare Fund on an exclusive basis subject to certain conditions for at least the next three years.

OrbiMed is a healthcare and life sciences investment boutique with over USD4bn of assets under management.  The firm’s 40-person investment team, one of the largest in the sector, includes over a dozen former medical doctors and scientists. 

The portfolio management team is led by OrbiMed founders Samuel D. Isaly and Sven H. Borho. The firm seeks to achieve long term capital growth by investing in healthcare companies around the world.

OrbiMed replaces Carnegie Asset Management, which has been managing the fund since inception in April 2006.

The USD95.82m Skandia Healthcare fund aims to achieve growth through investment in a well-diversified portfolio of equities or equity-related securities of companies that operate in the biotechnology, healthcare, medical technology and pharmaceutical sectors worldwide. 

Ramon Eyck, head of equity research at Skandia Investment Group, says: "The portfolio management team at OrbiMed, under the leadership of Samuel D. Isaly and Sven H. Borho, has a winning combination of skill and experience that has proved difficult for others to beat over the years. The collective expertise of the team, which includes a range of former scientists, medical doctors, researchers and financial analysts, give them a competitive advantage which we believe will lead to strong positive performance for investors in the fund.”

Samuel D. Isaly, portfolio manager and founder, OrbiMed, says: “SIG is a world-class partner, combining a great investment approach with exceptional marketing capabilities in many key global markets and client segments that we otherwise could not access. We’re excited to throw our full resources behind this new partnership.”