• What has been driving volatility in the healthcare sector recently?
• What long-term tailwinds do you see benefiting the healthcare sector?
• What innovations are you most excited about this year in healthcare?

Glossary:

Important information

Please read the following important information regarding funds related to this article.

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All content in this document is for information or general use only and is not specific to any individual client requirements. The information contained in this document is referential and may not be construed as an offer, invitation or recommendation or investment advice, nor should be taken as a basis to take (or stop taking) any decision.

Janus Henderson Capital Funds Plc is a UCITS established under Irish law, with segregated liability between funds. Investors are warned that they should only make their investments based on the most recent Prospectus which contains information about fees, expenses and risks, which is available from all distributors and paying agents, it should be read carefully. An investment in the fund may not be suitable for all investors and is not available to all investors in all jurisdictions; it is not available to US persons.  Past performance is not indicative of future results. The rate of return may vary and the principal value of an investment will fluctuate due to market and foreign exchange movements.  Shares, if redeemed, may be worth more or less than their original cost.

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Issued in Europe by Janus Capital International Limited (“JCIL”), authorised and regulated by the U.K. Financial Conduct Authority. Janus Capital International Limited (“JCIL”) is an entity registered and operating under the laws of the United Kingdom and Janus Capital Funds plc. is registered under the legislation of Ireland.

The extract prospectus (edition for Switzerland), the articles of incorporation, the extract annual and semi-annual report, in German, can be obtained free of charge from the representative in Switzerland: First Independent Fund Services Ltd (“FIFS”), Klausstrasse 33, CH-8008 Zurich, Switzerland, tel: +41 44 206 16 40, fax: +41 44 206 16 41, web: http://www.fifs.ch. The Swiss paying agent is: Banque Cantonale de Genève, 17, quai de l’Ile, CH-1204 Geneva. The last share prices can be found on www.fundinfo.com. For Qualified investors, institutional, wholesale client use only. Outside of Switzerland, this document is for professional use only. Not for onward distribution.

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Specific risks

• The Fund endeavours to reduce risk by investing in a range of companies and sub-sectors of the life sciences industry. However, the Fund may be less diversified than other investment products and suffer proportionately higher loss should a particular investment decline in value.
• The Fund may be denominated in a different currency than the share class of your investment. The value of your shares may rise and fall as a result of exchange rate movements between currencies.
• The Fund may hold investments denominated in currencies other than the base currency of the Fund. Fluctuations in exchange rates may expose the Fund to losses independent of investment performance.
• The Fund uses specialist financial derivative instruments (FDI) that can multiply gains and losses significantly in excess of the FDI's original cost, thus significantly increasing risk. We aim to reduce this risk by using a robust risk management process that will aim to limit the maximum potential loss. The use of these instruments involves other risks, in particular, counterparty risk, which is the risk to each party to a contract that the other party will not live up to its contractual obligations.
• The Fund investments are focused on life sciences companies. Changes in government regulation or subsidies, or a change in technology may affect the value of investments in the Fund.
• The value of investments held in the Fund and the income from them may rise or fall. The Fund may not achieve its investment objectives.
• Smaller or newer companies are subject to greater risk and reward potential. Investments may be volatile or difficult to buy or sell.