Health Care Sector Update and Outlook

TRANSCRIPT

Teresa McRoberts : I would say the other thing is, I think it's actually a good thing that we're going to have multiple vaccine choices because there may be one that has this side effect and for certain people that wouldn't be good, but a different one that doesn't have that side effect. They're not all the same. They're trying to do the same thing, but they're doing it a different way. And so I actually think multiple vaccines is good because maybe some of them are safer or less concerning for certain kinds of people. Thank you for the question. Dennis Hearns: I'm going to ask one last thing. I noticed that the Russell indices are reconstituting this Friday and that health care weights in the growth benchmarks are increasing across all the various market caps. Can you comment on that? Teresa McRoberts: The effect of the rebalancing, which happens every year at the end of June, is that we're seeing very significant increases in health care as part of the growth benchmark. I think part of that has to do with there being more interest in health care in general.

I think because of that, people may have been suddenly realized how underweight health care they're going to be if even if they're at the benchmark now, they're now going to be underweight come next Monday. And some people were underweight health care because of the election year and whatnot. And it generally is being rebalanced in the therapeutic area. That's where the bulk of it is. And in general, it's coming out of a variety of economically sensitive areas. Which again, if you think about what's been going on in the last six months, that's highly understandable. Given if those are more economically sensitive areas in the shutdown hotel, especially cars. So, we have increased some of the general trends have been increasing their health care rates because of it. Dennis Hearns: Okay, great. Thank you for that. Alright, well that concludes our call for today. Thank you, Teresa and CJ, for participating, and thank you all for listening in and your support for Alger.

Conference Call 7/8