Worldwide Healthcare Trust (WWH) fund manager Sven Borho has stepped down with immediate effect. The OrbiMed partner, who helps lead the New York firm’s public equity team and emerging markets teams, has been involved in the £1.3bn listed fund since its launch in 1995, although he did not become a named manager until 2013.
Borho, who spoke at WWH’s annual general meeting last month, is replaced by Trevor Polischuk, who has been WWH’s co-manager since 2015.
Geoff Hsu, lead manager of Biotech Growth (BIOG), the £313m investment trust that Orbimed also runs, becomes co-manager, WWH announced.
William Hemmings, WWH’s new chair, said: “The board would like to thank Sven for the significant contribution he has made to the company over many years as the lead portfolio manager.”
Borho will also leave WWH’s board where he has been a non-executive director since June 2018. His appointment as Orbimed’s representative followed the departure of Orbimed co-founder Sam Isaly, the trust’s first lead manager, after sexual harassment allegations were made against him that he denied.
Biotech Growth said there was no change to its portfolio management arrangements. “Geoff Hsu remains lead portfolio manager of the company, supported by Josh Golomb as co-portfolio manager,” said chair Roger Yates.
