Cordis Asset Management

With a flat month of June, the fund returned 10.62% for FY 24, outperforming our benchmark by 1.55%. Two high quality listed medical device companies (SYK & DHR) have this month been added to the portfolio, with one portfolio company (SILK) being wholly acquired by another (BSX) at a price we think represents excellent value. We have positioned the portfolio to benefit from what we believe will be strong Q2 reporting and a return to normal fundamental valuations post the GLP-1 induced uncertainties. Jordan Kennedy Thomas Bignill Jacob Celermajer, CFA Andy Laing Michael Vallely Michael Cartmill https://lnkd.in/g8dGF6ci

Excited to present at InvestmentMarkets' July webinar where our portfolio manager, Jacob Celermajer, will be speaking about the benefits of a satellite allocation to listed medtech in your portfolio. If you would like to hear about the diversification benefits of this high growth investment engine, please tune in on July 23rd-25th!! #medtech #investing #growth #innovation

The Fund's strong run of performance continued into May, with returns of +14.07% over the past year. During May, Shockwave Medical - one of our holdings since inception - was delisted as its $15bn acquisition by Johnson & Johnson was completed. Appealing valuations have helped spur a slew of other tuck-in acquisitions, which buoys confidence that corporate activity is returning to the medtech sector. Jacob Celermajer, CFAMichael CartmillMichael VallelyJordan Kennedy James CookThomas Bignill https://lnkd.in/gHuHX872

The Cordis Global Medical Technology Fund is listed on HUB24 Limited's investment platform, providing ease of access and daily liquidity to our clients. HUB24 Limited Paula FarrallJames Cook Michael Cartmill Oliver Welch Jacob Celermajer, CFA Michael Vallely Thomas Bignill Jordan Kennedy Andrew Inwood Simon J.H. Ford Stephen John Roberts #WealthManagement #Finance #MedTech #Quality

Dexcom's introduction of the Stelo continuous glucose monitor is strategically targeting the vast market of 38 million people in the U.S. grappling with type 1 diabetes as well as the 25 million individuals in the U.S. with non-insulin intensive type 2 diabetes. The FDA's clearance of this device for non-diabetic individuals greatly broadens Dexcom's total addressable market. Stelo is an innovative wearable biosensor, a game-changing approach to glucose monitoring, arming individuals with actionable insights into their glucose health. Designed to adhere seamlessly to the back of the upper arm, It delivers round-the-clock glucose readings directly to smartphones. This real-time data stream not only detects normal and abnormal glucose levels but also offers personalized insights, enabling users to make informed decisions about their health. Dexcom's promotional strategy will dictate the product's success. Individuals with prediabetes represent a readily accessible market segment. Additionally, there are various metabolic health applications, such as nutrition, weight management, and athletic performance which appeals to an even wider customer base. Moreover, Dexcom's phased rollout of "direct to Apple Watch" functionality further underscores the company's commitment to innovation. By enabling seamless connectivity with the Apple Watch, Dexcom is revolutionizing the CGM experience, enhancing accessibility and convenience for users. Dexcom has shown consistent revenue growth over the past five years, reflecting a strong growth trajectory continuous glucose monitoring systems. The company's revenue has more than doubled from 2019 to 2023. For 2024, Dexcom anticipates further growth, projecting revenues to be between $4.15 billion and $4.35 billion, representing ~20% top line growth. If you would like to know more about the Cordis Funds investment in Dexcom, please reach out. #ESG #Finance #WealthManagement #diabetes #glp-1 Jacob Celermajer, CFA Michael Cartmill Michael Vallely Jordan Kennedy James Cook Thomas Bignill Dexcom

The Fund continues to perform strongly, +39.72% over the past six months, even in the face of the negative sentiment surrounding the rise to prominence of GLP-1 drugs. The latest quarterly reporting season in the U.S. highlighted the operational strength of many of the companies in the portfolio, where the standout piece of data remains the increasing procedure volumes. Jacob Celermajer, CFAMichael CartmillMichael VallelyJordan KennedyJames CookThomas Bignill https://lnkd.in/dMm58VRt

We're pleased to announce that Cordis' Medical Technology Fund was rerated 4.25 Stars - 'High Investment Grade' - by SQM Research earlier this year! Thanks to the whole SQM Research team! James Cook Michael Cartmill Oliver Welch Jacob Celermajer, CFA Michael Lindsay Paul Saliba Matt Hattersley Thomas Bignill Jordan Kennedy Andrew Inwood Simon J.H. Ford Stephen John Roberts #wealthmanagement #finance #medtech #quality

Excited to announce we are the first Australian based partner of Rogo, an advanced generative AI solution built specially for the financial services space. The partnership with Rogo will provide value to our investors by augmenting the deep insights from our medical advisory panel with the most current financial reporting. The Cordis Rogo model is currently being trained for internal use with our vast body of non public medical technology assessments. If you would like to know more please reach out. https://www.rogodata.com/ Gabriel S. John Willett Andrew Inwood Jacob Celermajer, CFA Michael Vallely #wealthmanagement #finance #medtech

𝐏𝐫𝐨𝐟𝐢𝐭 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐢𝐧 𝐭𝐡𝐞 𝐃𝐢𝐚𝐛𝐞𝐭𝐞𝐬 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 The future of the diabetes devices market is not only promising but also incredibly lucrative, offering a wealth of opportunities for investors 𝐇𝐞𝐫𝐞'𝐬 𝐰𝐡𝐲: 𝐈𝐦𝐩𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐚𝐣𝐞𝐜𝐭𝐨𝐫𝐲: From a market size of USD 30.31 billion in 2023, the global diabetes devices market is poised to skyrocket to USD 32.70 billion by 2024, and further surge to a staggering USD 50.33 billion by 2030, boasting a CAGR of 7.45%. Such exponential growth spells significant revenue potential. 𝐃𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐨𝐟 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚: With a commanding share of 38.66% in 2022, North America stands as the epicenter of the diabetes devices market. The region's substantial patient base, coupled with a favorable reimbursement landscape, creates an environment for profit generation and market leadership. 𝐃����𝐢𝐯𝐢𝐧𝐠 𝐅𝐨𝐫𝐜𝐞𝐬 𝐁𝐞𝐡𝐢𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡: The convergence of factors such as the increasing incidence of diabetes, fueled by a growing geriatric population and rising obesity rates, coupled with rapid technological advancements in preventive diabetes care, are propelling the market forward. These factors not only stimulate demand but also create a conducive environment for revenue generation and profit maximization. The diabetes devices market represents a compelling investment opportunity, characterized by exponential growth, market dominance, and technological innovation. #wealthmanagement #finance #medtech Michael Cartmill, Michael Vallely, James Cook, John Sheridan, Leigh Vosseller, Tandem Diabetes Care, Dexcom, Oliver Welch

Very happy to report that that Cordis Global Medical Fund returned 18.48% for the first quarter of 2024, outperforming its benchmark by 6.72%. The results are testament to the fund's strategic positioning and disciplined investment approach. Pleasingly the returns came from where we had anticipated, that is investments in companies that were sold down in the peak of the GLP-1 weight loss drug hype, and investments in high quality, but often not well known, medical technology companies favorably assessed by our Medical Advisory Panel. We believe there is still excellent value in the many of funds investments, and are in the final stages of due diligence and analysis on a number of high quality growth medical technology companies with view to include in the fund. The fund recently had its ‘Superior: 4.25 Stars’ rating from SQM reaffirmed, and is now available on the CFS Edge platform. Please do reach out if you would like to learn more. https://lnkd.in/g4_7YECn #WealthManagement #ManagedFunds Jordan Kennedy Andrew Inwood Thomas Bignill Simon J.H. Ford Jacob Celermajer, CFA Euan Sneyd Colonial First State Territory Funds Management Bentleys SA