|By Marketwired .||
|January 11, 2013 01:31 PM EST||
BOSTON, MA -- (Marketwire) -- 01/11/13 -- Eventide Asset Management, LLC, a Boston-based investment advisory firm that is committed to biblically responsible investing, has launched the Eventide Healthcare & Life Sciences Fund (NASDAQ: ETGLX) on December 27, 2012. The Eventide Healthcare & Life Sciences Fund is a non-diversified fund that uses bottom-up fundamental research to find healthcare and life sciences companies with the potential to appreciate in value as positive data is released regarding clinical trials and FDA feedback, and market acceptance of products. The Fund has four share classes: ETNHX (N), ETIHX, (I), ETAHX (A), and ETCHX (C).
Healthcare and life sciences companies include those companies that derive or are expected to derive 50% or more of their revenue from healthcare and life science products and services including, but not limited to, biotechnology, pharmaceuticals, diagnostics, life science tools, medical devices, healthcare information technology, healthcare services, synthetic biology, agricultural and environmental management, and pharmaceutical manufacturing products and services. These companies include smaller development-stage companies.
According to lead portfolio manager Finny Kuruvilla, MD PhD, despite revolutionary advances in biology, we've only witnessed its nascency. Dr. Kuruvilla commented: "There is what I call an 'opportunity vacuum' for health and life sciences, as scientific understanding significantly outpaces approved treatments it the marketplace. This highly addressable pipeline, combined with the deepening pockets and growing appetites of large biopharma, promise exciting investment opportunities well into the future." In support of this investment thesis, Kuruvilla cited a recent report from Morgan Stanley and Thomson Reuters indicating a widening gap between the free cash flow of large biopharma companies and the entire US smid-cap biotech market capitalization. In other words, "Large biopharma has more money to spend than there are opportunities to buy, and the gap is widening, not closing," said Kuruvilla.
In addition to a compelling investment thesis, investors should be attracted to the Eventide Healthcare & Life Sciences Fund because of the expectation of diversification benefits in broad investment portfolios. According to the Morgan Stanley Strategy team, biotechnology has the most non-correlation of any industry group. This is especially true of small-cap biotechnology companies, where risks are typically more tied to company-specific events -- such as, clinical trial data releases and FDA feedback -- than to macro-economic forces.
The Eventide Healthcare & Life Sciences Fund will be managed by Eventide's lead portfolio manager, Finny Kuruvilla, MD PhD. Dr. Kuruvilla has been primarily responsible for the day-to-day management of the Eventide Gilead Fund since its inception on July 8, 2008. The Eventide Gilead Fund is a diversified mutual fund that primarily invests in small and mid-cap growth companies. Under his leadership, the Eventide Gilead Fund's no-load class (NASDAQ: ETGLX) has returned an annualized performance of 11.08% from July 8, 2008 to December 31, 2012 net of all fees, while the S&P 500 has returned 4.88% and the Russell Midcap Growth Index 6.00%. The fund has garnered numerous awards from the Wall Street Journal for its outperformance since inception in July 2008.
Along with his role as portfolio manager at Eventide, Dr. Kuruvilla also serves as Principal at Clarus Ventures, a health care venture capital firm with $1.2 billion under management. He represents Clarus on the Board of Directors of Nanostring, and is also a Board Observer for Catabasis, Lycera, Tetralogic, and Virdante. He has cared for adult and pediatric patients suffering from a wide variety of hematologic, oncologic, and autoimmune disorders at the Brigham & Women's Hospital, Children's Hospital Boston, the Dana Farber Cancer Institute, the Beth Israel Deaconess Hospital, and the Massachusetts General Hospital. He has also conducted research at the Broad Institute of Harvard and MIT in medical genetics from 2006 to 2008. Dr. Kuruvilla did his residency at the Brigham & Women's Hospital from 2003 to 2006 and his fellowship in transfusion medicine at Harvard Medical School from 2006 to 2007. He received his MD from Harvard Medical School, his PhD in chemistry and chemical biology from Harvard University, his master's degree in electrical engineering and computer science from MIT, and his bachelor's degree from Caltech.
The following table shows the Gilead Fund's performance since inception:
---------------------------------------------------------------------------- Since 3 year inception As of 12/31/2012 YTD return 1 year annualized (7/08/2008) return return annualized return ---------------------------------------------------------------------------- Eventide Gilead Fund* 18.15% 18.15% 11.95% 11.08% ---------------------------------------------------------------------------- S&P 500 Total Return Index 16.00% 16.00% 10.87% 4.88% ---------------------------------------------------------------------------- Russell Mid-Cap Growth Total Return Index 15.81% 15.81% 12.91% 6.00% ----------------------------------------------------------------------------
Eventide Gilead Fund expenses ratios: Gross Expenses 2.05%; Net Expenses 1.64%. The advisor has agreed to maintain the Fund's total annual operating expenses at 1.64% until at least October 31, 2013. Three-year and inception returns are annualized. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. Please review the fund's prospectus for more information regarding the fund's fees and expenses. Performance shown is for No-load Class shares (please see a prospectus for information about other share classes). For performance information current to the most recent month-end, please call toll-free 877-771-EVEN (3836).
The S&P 500 is an index created by Standard & Poor's Corp considered to represent the performance of the stock market generally. The Russell Midcap Growth Index measures the performance of the U.S. equity mid-cap growth segment. It includes mid-cap companies with higher price-to-book ratios and forecasted growth. Neither index is an investment product available for purchase.
Mutual Funds involve risk including the possible loss of principal. Both the Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund can invest in smaller-sized companies which may experience higher failure rates than larger companies and they normally have a lower trading volume than larger companies. The Funds' ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. The Eventide Healthcare & Life Sciences fund is non-diversified and its performance largely depends on the overall condition of the healthcare sector. The Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund can both have risk associated with the biotechnology and pharmaceutical industry in which these companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the U.S. Food and Drug Administration. The funds can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. The fund can have risk associated with a higher portfolio turnover which could result in higher transactional costs.
An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the Eventide Gilead Fund can be found in the Fund's prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus please call the fund, toll free at 877-771- EVEN (3836). You can also obtain a prospectus at www.eventidefunds.com. The Eventide Gilead Fund is distributed by Northern Lights Distributors, LLC, which is not affiliated with Eventide Asset Management, LLC.
877-771-EVEN (3836), x55
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Jan. 31, 2015 11:00 AM EST Reads: 4,840
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
Jan. 31, 2015 11:00 AM EST Reads: 3,969
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Jan. 31, 2015 10:45 AM EST Reads: 4,464
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 10:45 AM EST Reads: 5,003
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Jan. 31, 2015 10:45 AM EST Reads: 4,768
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Jan. 31, 2015 10:30 AM EST Reads: 4,145
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Jan. 31, 2015 10:00 AM EST Reads: 4,728
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Jan. 31, 2015 10:00 AM EST Reads: 5,063
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Jan. 31, 2015 10:00 AM EST Reads: 4,039
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Jan. 31, 2015 10:00 AM EST Reads: 4,544
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 09:30 AM EST Reads: 3,750
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
Jan. 31, 2015 09:00 AM EST Reads: 4,525
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
Jan. 31, 2015 09:00 AM EST Reads: 4,421
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
Jan. 31, 2015 08:45 AM EST Reads: 3,310
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 31, 2015 08:30 AM EST Reads: 5,311
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Jan. 31, 2015 08:30 AM EST Reads: 4,937
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Jan. 31, 2015 06:30 AM EST Reads: 3,033
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Jan. 31, 2015 05:45 AM EST Reads: 5,116
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immediate and actionable interpretation of events as they happen. Another aspect concerns how to deliver ...
Jan. 31, 2015 03:00 AM EST Reads: 5,014
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Jan. 31, 2015 02:00 AM EST Reads: 5,073