PPH provides exposure to the largest, US-listed multinational pharmaceutical giants in the world. The fund holds just 25 securities, including big weights in household names. Like the underlying pharmaceutical market, PPH is top heavy and has to reweight its big holdings to accommodate RIC diversification requirements, capping a single issuer to 20%. Still, it captures the space well, even after excluding Asia entirely. Overall, PPH is a great option for investors seeking exposure to big, multinational pharma companies. The index is reviewed on a semi-annual basis.
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