Inside the mind of the investor: Polar Capital

The markets tell us what investors are doing. But what, exactly, are they thinking? Edison’s Inside the mind of the investor aims to find out. In this edition, we talk to Gareth Powell, head of healthcare at Polar Capital.

After years of policy uncertainty weighing on the healthcare sector, Gareth Powell, head of healthcare at Polar Capital, believes the clouds are finally lifting. With recent developments providing clarity on tariffs and pricing, he sees compelling opportunities emerging from what he describes as ‘one of the most significant relative drawdowns in 35 years’.

‘For much of 2025, our thesis has been that fundamentals are solid and stocks are cheap, but we needed clarity on tariffs and US pricing to drive outperformance,’ explains Powell. ‘Over recent weeks, that clarity has started to emerge.’

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