Masimo is currently our biggest position in the portfolio, and is the typical type of companies that we invest in. It is a leader in the non-invasive patient monitoring hospital devices and technologies.
It operates in a supportive industry structure, with high barriers to entry and limited competitive pressures.
These characteristics gives it superior pricing power - as a rule, we like companies with good pricing power, in a world where there is strong underlying deflationary trends.
The company also has low disruption risk, due to its productive and targeted R&D efforts, enabling it to sustain its leadership position.
It has attractive growth prospects, driven by supportive long term structural trends, related to ageing population, improved healthcare infrastructure, and future of technology related to intelligent patient monitoring.
It has a good quality management and supportive ESG and, importantly, a sustainable business model. It is a great opportunity to gain exposure to three important long-term themes that we have identified as part of our thematics framework, which are: Aging Population, Bespoke Healthcare and Robotics & Automation. Those are part of our three megatrends which are Demographic Change, Future of Technology and Resource Scarcity.
The information provided should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions discussed here were, or will prove to be, profitable.
Regulatory information and risk warnings
Past performance is not a guide to future returns
This information is issued and approved by Martin Currie Investment Management Limited (‘MCIM’). It does not constitute investment advice. Market and currency movements may cause the capital value of shares, and the income from them, to fall as well as rise and you may get back less than you invested.
The opinions contained in this document are those of the named manager(s). They may not necessarily represent the views of other Martin Currie managers, strategies or funds.
The information contained has been compiled with considerable care to ensure its accuracy. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Martin Currie has procured any research or analysis contained in this document for its own use. It is provided to you only incidentally and any opinions expressed are subject to change without notice.
The analysis of Environmental, Social and Governance (ESG) factors form an important part of the investment process and helps inform investment decisions. The strategy does not necessarily target particular sustainability outcomes.
Risk warning – investors should also be aware of the following risk factors which may be applicable to the strategy. Investing in foreign markets introduces a risk where adverse movements in currency exchange rates could result in a decrease in the value of your investment.
This strategy may hold a limited number of investments. If one of these investments falls in value this can have a greater impact on the portfolio’s value than if it held a larger number of investments. Smaller companies may be riskier and their shares may be less liquid than larger companies, meaning that their share price may be more volatile.
The opinions contained in this recording are those of the named manager. They may not necessarily represent the views of other Martin Currie managers, strategies or funds. These opinions are not intended to be a forecast of future events, research, a guarantee of future results or investment advice.
The information contained has been complied with considerable care to ensure its accuracy. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Martin Currie has procured any research or analysis contained in this recording for its own use. It is provided to you only incidentally and any opinions expressed are subject to change without notice.
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