Abrdn World Healthcare Fund
THW
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- William R. Hite
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Federal Street Philadelphia PA United States of America 19103
- IPO Date
- Jun 26, 2015
- CIK
- 0001635977
- Website
- teklacap.com
- Similar Companies
- Business
- abrdn World Healthcare Fund (NYSE: THW) is a closed-end fund that seeks current income and long-term capital appreciation through investments primarily in equity securities and debt instruments of healthcare companies worldwide, including pharmaceuticals, biotechnology, health care equipment, life sciences tools and services, managed health care, health care REITs, and health care providers and services; it also allocates to venture capital, convertible preferred stocks, non-convertible notes, and derivatives such as call options and currency forwards. The fund's portfolio emphasizes global diversification across developed and emerging markets, with significant exposure to the United States (approximately 73%), United Kingdom, Denmark, Netherlands, Switzerland, and other regions, targeting companies benefiting from aging demographics, medical innovation, and rising healthcare demand; top holdings as of mid-2025 include Eli Lilly, UnitedHealth Group, AstraZeneca, Abbott Laboratories, and AbbVie. Launched on June 30, 2015, and domiciled in the United States with administrative offices in Philadelphia, Pennsylvania, the fund employs leverage through bank borrowings (around 29% of managed assets) and maintains a stable monthly distribution policy of $0.1167 per share, sourced from income, capital gains, and return of capital. In a major strategic shift, effective October 27, 2023, abrdn Inc. assumed the role of investment adviser, succeeding Tekla Capital Management LLC, with abrdn's DM Thematic Equity Team now managing the portfolio alongside an Expense Limitation Agreement capping ordinary operating expenses at 1.51% of average daily net assets through October 2025. The fund generated a NAV total return of 22.05% for the fiscal year ended September 30, 2024, outperforming its blended benchmark (80% S&P Global 1200 Healthcare Index, 15% S&P 500 HealthCare Corporate Bond Index, 5% S&P Composite 1500 Health Care REITS Index) at 21.10%, bolstered by leverage adding 4.59% incrementally, strong contributions from holdings like Eli Lilly, AbbVie, Novo Nordisk, and AstraZeneca, modest gains from call option writing, and a venture capital exit via AstraZeneca's $1.05 billion acquisition of Amolyt Pharmaceuticals. It operates an open market repurchase program to manage discounts to NAV (up to 12% of shares annually), though no repurchases occurred in fiscal 2024, and continues monthly distributions, with recent announcements for payments through January 2026.