Two fund houses have recently launched funds based on the healthcare theme. One is ICICI Prudential Mutual Fund, which has launched the Pharma, Healthcare and Diagnostics (PHD) Fund and the other is Mirae Asset Management, which has launched the Mirae Asset Healthcare Fund. Three funds based on the healthcare theme already exist. While they have given sound returns over the longer (five-year) term (see table), their performance over the one- and three-year horizons has been poor. Investors need to carefully weigh the opportunities within the segment vis-a-vis the risks before deciding to bet on this theme.
Growth opportunities exist: India,