Our goal is to generate positive long-term returns that outperform the relevant equity benchmarks over time, with significantly lower volatility.
Our investment strategy is implemented through strong emphasis on the quality of management teams of our portfolio investments as well as through extensive research process of companies, industries and macro trends.
We constantly utilize a variety of tools and techniques to reduce volatility and hedge the portfolio's
risk exposure. Among the tools employed are shorts, options, futures, convertible debt and high-yield debt.
We do not employ leverage in our portfolios.
We dedicate considerable resources to developing close, ongoing dialogue with management teams of existing and prospective investments, and consider the quality and credibility of management teams to be a critical factor in our investment considerations and risk management.
Sphera’s investment objective is to identify companies with strong fundamentals that generate sustainable growth and profitability over time.
Sphera Fund is a long/short equity fund investing primarily in large cap Israeli equities trading in Israel, US and European markets. Our investment style is predicated on combining fundamental, bottoms-up research and analysis of portfolio companies with a variety of hedging strategies to reduce the fund’s market risk and volatility. The long-standing experience of our principals investing in Israeli & International companies provides us with a strong edge in identifying and accessing attractive investment opportunities in this particular universe of companies.
Sphera Global Healthcare Management (Investment Manager) is a partnership between Mr. Mori Arkin, former vice chairman of Perrigo (Nasdaq ticker:PRGO, a world leader in generic and OTC drugs), and of Sphera Funds Management.
Long/short equity fund that is focused on the global pharmaceutical and biotech industries. The Investment Manager’s objective is to generate consistent and attractive long term returns exceeding the industry while maintaining disciplined risk management.
With a highly experienced and cohesive multidisciplinary team, the Fund’s competitive advantage is evident in three key areas:
• Having a rigorous, fundamental, focused and comprehensive approach to healthcare research.
• Investment committee co- led by an industry veteran with a track record of building a pharmaceutical company.
• Unique and unbiased investment approach generated in part from access to massive flow of R &D, innovation and top tier human capital in Israel.
The opportunity is supported by three distinct developments that have occurred over the past few years:
Elimination of patent cliffs - driven by the domination of biological drugs, is an industry game changer. Increased demand for drugs – driven by extension of life expectancy & increased consumption in emerging markets. Major R &D achievements - driven by breakthroughs in innovation.
The Fund manager's location in Israel provides for a distinct and unique angle in assessing global opportunities in pharma and biotech – as Israel is a major untapped research hub for these industries
Over the years, Sphera has built a strong team of eight investment professional – tree PH.D's and two MD's. The team combines over 100 years of industry experience.
EuroHedge awards - 2011-2012
Bloomberg’s 2013 & 2014 top 25 midsize hedge funds
Bloomberg’s top 10 best-performing long/short hedge fund (LTM through Feb 29, 2012)
Sphera Small Cap Fund is focused on long/short equity investments in small and micro- cap stocks of Israeli companies.
Our investment strategy is predicated on fundamental analysis and stock-picking methodologies. We execute our strategy through intensive due diligence, bottoms-up research and ongoing dialogue with management teams.
We aim to have a clear edge in the small cap market segment due to our deep research and portfolio management focus compared to the relative lack of market coverage and resources dedicated to small cap stocks by institutional investors.