Milford and Anderson benefit from bottom-up stock picking

The managers of first state and framlington's healthcare funds are both targeting small and mid caps

People grow old, get sick and die, although not necessarily in that order. They want drugs to alleviate their suffering and wealthier countries have ageing populations where over-65s consume six times more drugs than any other age group. The argument for investing in healthcare, although simplified here, is compelling and around £500m currently sits in funds invested in the sector. Framlington Health is the oldest, largest and best known such vehicle, having been launched in 1987. Manager Antony Milford has run the portfolio from launch, in which time it has grown to £372m. Of four on...