portfolio spotlight
Manager Eddie Yoon Age 41
professional Background Joined Fidelity in 2006 . He manages several other funds including the Fidelity Advisor Health Care Fund , the Fidelity and Fidelity Advisor Stock Selector Mid Cap Fund , the Fidelity and Fidelity Advisor All Cap Fund , the Fidelity Select Health Care Portfolio and the Fidelity Select Medical Technology and Devices Portfolio . He previously held multiple positions at J . P . Morgan Asset Management .
outside interests He enjoys using his smoker in the backyard for summer barbecues with friends and family , golfing and playing with his 3-year-old daughter who is growing up too fast . the large-cap , mega-cap pharma companies because they tend to be exposed to some of the bigger headwinds in the space ,” he says , citing the pressures these companies face on their pricing and their regulatory burdens .
Pfizer is the third-largest constituent in the MSCI U . S . IMI Health Care 25 / 50 Index . And , of course , it has garnered a lot of ink thanks to its successful Covid-19 vaccine . But that doesn ’ t impress Yoon , who says he ’ d rather invest in other companies positioned to benefit from some of the pandemic ’ s tailwinds .
“ We strive to create a portfolio that capitalizes on the macro trends that I believe in and avoid some of those macro headwinds that I ’ m concerned about ,” he says . “ Healthcare reimbursement and drug pricing will be in the headlines for a long time , and some of that will show up in lower drug price inflation going forward .”
Yoon also manages several other Fidelity funds and is the global sector leader of the company ’ s healthcare research team .
“ We spend a lot of time researching industries and companies — profitable and nonprofitable companies , private companies , large-cap companies — and put this into a framework of what we think are the best risk-adjusted returns within these industry groups ,” he says . “ And then I put these building blocks into my portfolios .”
In the case of the Fidelity Select Health Care Portfolio fund , it has been a winning approach .
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52 | FinAnCiAl ADviSor MAgAzinE | JUlY / AUgUST 2021 www . FA-MAg . CoM