Tuesday, 21 October 2014
Last updated 1 hour ago
Oct 16 2012 | 2:04pm ET
Forward Management has announced the addition of the Asymmetry global healthcare team in advance of the launch of a new hedge fund in early 2013. The new vehicle is slated to be a long/short equity strategy that will invest globally across all healthcare sectors and market capitalizations.
Scott Kay is the portfolio manager for the team. A 20-year healthcare industry veteran, Kay was a founding partner at Partner Fund Management, where he was therapeutic sector head. Previously, he was a senior healthcare analyst at Andor Capital Management and at Bank America Securities, where he was ranked among top healthcare analysts by Institutional Investor. Earlier in his career he held various roles in marketing, sales and operations at Pfizer.
Also joining the team is Chris Zellner, who will be responsible for operations and business development. He brings to the team two decades of global markets and investment banking experience with Bank of America Merrill Lynch, Lehman Brothers and Morgan Stanley, among others.
Two senior analysts, both of whom have previously worked with Kay, will round out the team.
“This new team adds an important and exciting dimension to Forward’s investment capabilities. Much like the technology sector, healthcare is a fast-growing, rapidly changing industry that is experiencing a variety of disruptions. For managers who understand the industry’s dynamics, this translates into a multitude of long and short investment opportunities,” said Alan Reid, CEO of Forward.
Forward is the adviser to the Forward Funds. As of the end of September, the firm managed $5.7 billion in a diverse product set offered to individual investors, financial advisors and institutions.
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