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FTSE Factsheet FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 21 February 2020 BB Healthcare Trust BBH Equity Investment Instruments — GBP 1.57 at close 21 February 2020 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 21-Feb-2020 21-Feb-2020 21-Feb-2020 1.6 105 110 1D WTD MTD YTD Absolute -0.6 1.8 9.0 10.6 1.55 105 Rel.Sector 0.1 1.9 5.5 9.2 100 Rel.Market -0.2 1.8 7.0 12.3 1.5 100 1.45 95 VALUATION 1.4 95 Trailing RelativePrice RelativePrice 90 1.35 90 PE 8.5 Absolute(localPrice currency) 1.3 EV/EBITDA 9.0 85 85 PB 1.4 1.25 PCF -ve 1.2 80 80 Div Yield 2.0 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Price/Sales 7.9 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.1 100 100 100 Div Payout 17.2 90 90 90 ROE 19.9 80 80 80 Share Index) Share Share Sector) Share - 70 - 70 70 DESCRIPTION 60 60 60 50 50 50 The Company is a closed-ended investment company RSI RSI (Absolute) 40 40 40 which to invest in a concentrated portfolio of listed or quoted equities in the global healthcare industry. 30 30 30 20 20 20 RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative 10 10 10 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 Feb-2019 May-2019 Aug-2019 Nov-2019 Feb-2020 See final page and http://www.londonstockexchange.com/prices-and-markets/stocks/services-stock/ftse-note.htm for further details. Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: BB Healthcare Trust 21 February 2020 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 31-Jan-2020 31-Jan-2020 31-Jan-2020 13 14 1.5 13 12 1.4 12 11 +1SD +1SD +1SD 1.3 11 10 10 1.2 Avg 9 Avg Avg 9 1.1 8 8 -1SD -1SD 1 7 -1SD 7 6 6 0.9 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Baillie Gifford UK Growth Fund Plc 120.0 Baillie Gifford UK Growth Fund Plc 100.0 SDCL Energy Efficiency Income Trust 3.0 SDCL Energy Efficiency Income Trust 120.0 Brunner Investment Trust 100.0 Middlefield Canadian Income PCC 2.2 JPMorgan American IT 120.0 SDCL Energy Efficiency Income Trust 100.0 Hipgnosis Songs Fund 2.1 BH Global (GBp) 120.0 JPMorgan American IT 100.0 Smithson Investment Trust 1.8 Hipgnosis Songs Fund 120.0 Keystone Inv Tst 100.0 Pantheon International 1.7 Equity Investment Instruments 30.9 Equity Investment Instruments 31.2 BB Healthcare Trust 1.4 BB Healthcare Trust 8.5 BB Healthcare Trust 9.0 Equity Investment Instruments 1.1 Vinacapital Vietnam Opportunity Fund -120.0 Polar Capital Global Healthcare Trust 0.0 JPMorgan European Invest Tst (Inc Shs) 0.4 Perpetual Income&Growth Inv Tst -120.0 JPMorgan European Invest Tst (Gwth Shs) 0.0 Schroder UK Public Private Trust 0.4 Standard Life UK Small CosTst -120.0 Standard Life UK Small CosTst 0.0 Riverstone Energy 0.3 SME Credit Realisation Fund -120.0 Perpetual Income&Growth Inv Tst 0.0 SQN Asset Finance Income Fund C shares 0.2 Brunner Investment Trust -120.0 SME Credit Realisation Fund 0.0 Highbridge Tactical Credit Fund 0.2 -150 -100 -50 0 50 100 150 0 20 40 60 80 100 120 0 0.5 1 1.5 2 2.5 3 3.5 Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS) 31-Jan-2020 31-Jan-2020 31-Jan-2020 1 3.4 12 0.9 3.2 11 0.8 0.7 3 10 +1SD 0.6 2.8 +1SD 9 0.5 Avg 0.4 2.6 8 Avg 0.3 2.4 7 0.2 -1SD 2.2 -1SD 6 0.1 0 ‖ ‖ 2 5 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Syncona 80.0 TwentyFour Select Monthly Income Fund 100.0 Polar Capital Global Financials Trust 15.0 Aberdeen Diversified Income And Growth Trust 80.0 SQN Asset Finance Income Fund C shares 34.5 Bluefield Solar Income Fund 15.0 Schroder Asian Total Return Investment Company 80.0 SQN Asset Finance Income Fund 19.7 Smithson Investment Trust 15.0 Impax Environmental Markets 80.0 JPMorgan European Invest Tst (Inc Shs) 9.9 Mercantile Investment Tst 15.0 Schroder Oriental Income Fund 80.0 SME Credit Realisation Fund 8.2 Personal Assets Trust 15.0 Equity Investment Instruments 80.0 Equity Investment Instruments 2.5 Equity Investment Instruments 15.0 BB Healthcare Trust -100.0 BB Healthcare Trust 2.0 BB Healthcare Trust 7.9 JPMorgan Indian Inv Trust -100.0 Vietnam Enterprise Investments 0.0 Henderson Smaller Cos Inv Tst 0.0 Bluefield Solar Income Fund -100.0 Smithson Investment Trust 0.0 Blackrock Throgmorton Trust 0.0 Pacific Horizon Investment Trust -100.0 Schroder UK Public Private Trust 0.0 Pacific Horizon Investment Trust 0.0 Baillie Gifford Shin Nippon -100.0 Pershing Square Holdings 0.0 Montanaro UK SmallerCosInvTst 0.0 Aberdeen New India Investment Trust -100.0 Baillie Gifford US Growth Trust 0.0 Fundsmith Emerging Equities Trust 0.0 -120 -100 -80 -60 -40 -20 0 20 40 60 80 100 0 20 40 60 80 100 120 0 2 4 6 8 10 12 14 16 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing. 2 of 4 FTSE COMPANY REPORT: BB Healthcare Trust 21 February 2020 Valuation Metrics Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE) 31-Jan-2020 31-Jan-2020 31-Jan-2020 0.11 +1SD 26 20 +1SD 0.1 24 +1SD 19 22 18 0.09 17 20 Avg 0.08 16 Avg 18 Avg 0.07 15 16 -1SD 14 0.06 14 13 0.05 12 12 -1SD 0.04 10 11 -1SD Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Feb-2015 Feb-2016 Feb-2017 Feb-2018 Feb-2019 Pollen Street Secured Lending 0.5 Baillie Gifford UK Growth Fund Plc 100.0 Syncona 32.8 Middlefield Canadian Income PCC 0.4 Electra Private Equity 100.0 JPMorgan Russian Secs 27.0 Greencoat UK Wind 0.3 Twentyfour Income Fund 100.0 Ecofin Global Utilities and Infrastructure Trust 23.9 Value And Income Trust 0.3 JPMorgan American IT 100.0 Aberforth Smaller Companies Tst 23.4 Aberforth Split Level Income Trust 0.3 INVESCO Asia Trust 100.0 Polar Capital Technology Trust 22.0 BB Healthcare Trust 0.1 Equity Investment Instruments 71.3 BB Healthcare Trust 19.9 Equity Investment Instruments 0.1 BB Healthcare Trust 17.2 Equity Investment Instruments 3.5 Henderson International Income Trust 0.0 JPMorgan European Invest Tst (Inc Shs) 0.0 Henderson High Income Trust -14.6 Electra Private Equity 0.0 Standard Life UK Small CosTst 0.0 Riverstone Energy -15.0 Diverse Income Trust 0.0 Vinacapital Vietnam Opportunity Fund 0.0 Fidelity Japan Trust -16.7 SDCL Energy Efficiency Income Trust 0.0 Perpetual Income&Growth Inv Tst 0.0 European Assets Trust PLC -17.6 TwentyFour Select Monthly Income Fund 0.0 Brunner Investment Trust 0.0 Middlefield Canadian Income PCC -23.4 0 0.1 0.2 0.3 0.4 0.5 0.6 0 20 40 60 80 100 120 -30 -20 -10 0 10 20 30 40 ROE vs. PB — sector Du Pont Analysis 2.2 SEIT 1.2 25 MCT SONG 2.0 1 20 1.8 SSON TRIG PIN 1.6 0.8 UKW IEM ATT CGT SEQI 3IN 15 1.4 BBH THRG BBGI HGT LTI SAIN 0.6 PB JUSCIPU MNP EWI Regression BRSC BRNA USA 1.2 MRCFJV PNL INPPGABI MWY JCHATRMYIFCIT TFIF GCP TRY FSFL MTESMT MRCHHSLJMFJMIPSHHRIHHICMHYDIGATSTSLSJAMRCP MERI HICLBSIFSTSMNKSJLENWWH PCT 10 BUTWTANLWDBBGSJETGMTUTMPLIITEATFEV HDIV SMIF JEOSWEF NESF ASITFSV CTY EquityNAIT InvestmenBCIBRGE JPGITIGT BNKRBPET 1.0 BGFDSCFBGEUPCFT HINT BGSCLBOWBIOG MUT MNL HVPE RICAEPGPCGHPHIBRLALWIJPSASEIDIVIBGUK SECSCP SOI PAC APAXBHMG CCJI FGT SYNCEGL 0.4 WPCJESCAAIFIBT UEM IVIHNE JAI JMG JCGI JRS BRWMTRGVEILFEETATSBHGGKITTEMSDPHASTAGT GSSJUSHEFTAEFS NAS ICGT ASL SJGJFJBRFIFCSS SCINADIG PSSLVINABD DGN FASANII SLPECLDNJIIJEMI 0.8 MAJEIAT SST AAS VOFCCPGPLI EDIN SCRF 5 ELTA 0.2 0.6 NBLS 0.4 JETI SQN SUPP 0 0 RSE 2016 2017 2018 2019 2020 0.2 HTCF SQNX 0 2 4 6 8 10 12 14 16 18 20 22 24 26 Net Margin Asset Turnover Gearing ROE (rhs) ‖ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned.
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