Chicago-based Harbour Capital, a $60 billion asset manager, has launched its first ETF in Europe, an actively managed fund designed to capture the secular growth and innovation of the US health care sector.
Harbour Capital notes that the US health care sector is home to several disruptive themes.
The Harbor Health Care UCITS ETF has been listed on London Stock Exchange in US dollars (Ticker: WELL LN) and pound sterling (WELP LN), on Xetra (W311 GY), Borsa Italiana (WELL IM), and Euronext Paris (WELL FP) in euros, and on SIX Swiss Exchange (WELL SW) in Swiss francs.
The fund, which comes with an expense ratio of 0.89%, has been brought to market in partnership with European white-label ETF platform HANetf.
The ETF is sub-advised by Westfield Capital Management, an SEC-registered investment adviser known for its rigorous, fundamental research process. Westfield focuses on identifying quality businesses with unique products, technologies, and services that meet specific valuation criteria.
Harbour notes that healthcare costs have risen significantly over the years, with projections indicating a continued upward trend. As a result, there is an increasing need for a shift towards value-based approaches in healthcare, which prioritize lower costs and improved patient outcomes. This transition presents opportunities for healthcare companies that are well-positioned to lead the shift from quantity to value.
Moreover, the healthcare sector is home to several disruptive themes, including targeted oncology, liquid biopsy, gene therapy, and treatments for orphan diseases. These areas represent compelling long-term growth opportunities, offering innovative solutions that could redefine the future of healthcare.
Charlie McCain, CEO of Harbor Capital, commented: “We are excited to be entering the European ETF market. Europe is the second largest regional market for ETFs, holding 16% of global ETF assets under management (AUM). Working with HANetf provides us with a simple solution to bring our investment capabilities and brand into the European ETF market – all with an eye on remaining cost-effective, timely to market, and able to benefit from a pre-established distribution network across Europe. Additionally, we are delighted to bring another compelling Active ETF to HANetf’s growing active ETF lineup.”
Hector McNeil, Co-Founder and Co-CEO of HANetf, added: “At HANetf, we pride ourselves on our ability to enable asset managers from around the globe to launch new and innovative products in Europe, with minimal barriers to entry. The health care sector is dynamic and rapidly growing. Every day, new innovations are being made, and new technologies are being deployed. We believe that there is a significant long-term growth story here, and Westfield Capital Management’s expert research team are seeking to capture it with their research-driven approach to active management.”