The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. 2020 was an exceptional year, with the index rising 19.9% to 590.6, broadly in line with the FTSE AIM All-Share Index (+20.7%), but in complete contrast to the performances of the FTSE 100 (-14.3%) and FTSE All-Share (-12.5%) indices. A number of our life sciences companies really stepped up to meet the challenges posed by the COVID-19 pandemic and, with the market’s greater appreciation of science and technology, no less than 52% (27/52) took the opportunity to increase their capital bases. Even allowing for both capital increases and share buybacks, the index still rose 13.4% in 2020. Given the current situation with COVID-19, we expect the life sciences industry to remain very much the focus of attention in 2021, offering attractive shareholder returns.
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