Health care stocks rallied nicely in the first quarter of 2019. US stocks had fallen sharply in the fourth quarter of 2018 but reclaimed much of the lost ground in the first quarter. Biotechnology and pharmaceutical stocks were strong outperformers in the quarter, rising double digits. Healthcare equipment stocks also outperformed, though the Saratoga Health& Biotechnology Portfolio is underweight this sector and underperformed as a result.
The Healthcare sector continues to weather political concerns. President Trump seems poised to attempt another dismantling of the Affordable Care Act. Meanwhile, Pharmaceutical, Biotech, and Drug Distributers all face pricing pressure and reimbursement risk. Due to these risks, the portfolio remains focused on quality and valuation. Indeed, we believe valuations throughout many Healthcare industries are very attractive and offer solid growth opportunities._____________________________
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Saratoga Advantage Trust mutual funds. This and other important information about the Saratoga Advantage Trust's funds is contained in the prospectus, which can be obtained by clicking here, or by calling (800) 807-FUND, and which should be read carefully before investing. The Saratoga Advantage Trust's funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Saratoga Capital Management, LLC is not affiliated with Northern Lights Distributors, LLC. 4/19 © Saratoga Capital Management, LLC; All Rights Reserved.