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Home Page > Performance Report

Performance Report / Medical Development Fund (MDF) Jan, 29th, 2009

Quarterly Returns, 04/2007-01/2009, % Annual Returns, 01/2003-01/2009, %

Date / Quarter	MDF Quarterly Return,%	NBI Quarterly Return,%	Over/under Performance, %	Year	MDF annual return,%	NBI annual return,%	Over/under Performance, %
26.10.2007	12,7 %	11,1 %	1,6 %	29.1.2004	+ 81.3%	+ 57.1%	+24.2%
29.1.2008	-8,8 %	-8,8 %	0,0 %	28.1.2005	-1.4%	-8.4%	+ 7.0%
25.4.2008	-8,5 %	0,2 %	-8,7 %	27.1.2006	+ 38.6%	+ 14.7%	+23.9%
25.7.2008	5,3 %	10,2 %	-5,0 %	29.1.2007	+ 9.8%	- 0.7%	+10.5 %
24.10.2008	-14,6 %	-23,6 %	7,0 %	29.1.2008	-0.97%	-1.25%	+ 0.3 %
29.1.2009	21,2 %	7,8 %	13,4 %	29.1.2009	- 0,9 %	- 9,1 %	+ 8.2 %

Portfolio / index	Estimated hist. volat., p.a.				Historical return, p.a.
	Period 02/2006-01/2007	Period 07/2005-01/2006		Period 1993-2005	Period #) 01/2006-01/2007	Period 01/2003-01/2007	Period 1993-/2005
MDF	22.6 %	21.1 %		n.a.	+10 %	+28 %	n.a.
NBI	16.4 %	13.5 %		36.5 %	-1 %	+13 %	+13.5 %
Index Heavy Weights	13.2 %	14.2 %		n.a.	+2 %	+11 %	n.a.
Portfolio / index	Estim. Expect. Return		Expected ) volatility.*		Sharpe ratio (riskfree interest 4.0%)
MDF	27 % **)		22.6 %		1.02
NBI	13 % ***)		16.4 %		0.55
IHW	13 % ***)		13.2 %		0.68

**) MDF Estimated Expected Return p.a. = alfa + beta * NBI Exp.Return p.a. = 10 % + 1.30 * 13 % = 27 %.

***) Estimates are based on historical data.

Biggest Investments of MDF on

Oct 22, 2008

* Onyx Pharmaceuticals, Inc.

* Cypress Bioscience, Inc.

* Crucell N.V.

* Omrix Biopharmaceuticals, Inc.

...and some 25 other drugdeveloping companies listed mainly Nasdaq. Some companies from LSE and EuroNext.

* Cash appr. 30 per cent of NAV.