HealthInvest

“One of the biggest benefits for us is to be able to finish a task and get that visualized. You can easily see that everything is done, and you never have to re-check or rethink previous tasks. It creates headspace and I can focus on getting the job done, not remembering it.”

Active healthcare investments niched on small and medium-sized companies (SME)

HealthInvest Partners was founded in 2006 and is one of the most established healthcare fund managers in the Nordics. Their ‘HealthInvest Alpha Fund’ is a global healthcare fund focusing on small and medium-sized companies within the sector. The fund has an average yearly return of 18% and an average yearly Alpha of 6,8% since its inception in 2013. HealthInvest is one of the best-performing fund managers within the sector.

The team at HealthInvest are tightly run, with only four full-time employees and many functions outsourced to keep it efficient yet controlled. We had a talk with Christian Herold, Sales manager at HealthInvest who has an extensive background within finance, about the challenges of being a small fund manager.

Challenges of joining a small fund manager

Being part of a smaller fund manager means that everyone needs to contribute to many different areas of the company, resulting in a broader understanding and knowledge of the business in its entirety. Christian has been working at HealthInvest for about a year and confirms being new to the job meant the learning curve was quite steep. One of the hardest parts of getting onboarded is the combination of what to do, when, and how, and it takes some time before the routines really start to stick. On top of this, with multiple spreadsheet checklists and work documentation, it’s hard to get a true overview of the business.

Being a smaller team with many outsourced operations also means that oversight is done not only on fund administration, custodians, and the like – but also for accounting services. Everything from VAT payments to NAV calculations approval is part of their operations.

With the help of Strivr, everything that needs to be done is now available in a single hub, not only making the entire operations more efficient and structured, but it also provides a more general understanding of how everything ties together and what needs to be done. This will enable easier and quicker onboarding of new team members which in turn saves valuable time when it comes to learning and increases staff efficiency.

Manual handovers and checklists

Like larger Fund Managers, HealthInvest had rigorous spreadsheets to manage all tasks and recurring processes. Not only to keep track of deadlines but also as a way of creating evidence and sign-offs for audits and investor due diligence processes. Their day-to-day activities contain manual handovers and status checks just to make sure everything is done correctly and on time.

One of the biggest benefits for us is to be able to finish a task and get that visualized. You can easily see what has been done, and by whom. You never have to re-check or rethink previous tasks. It creates the possibility to complete, move on and then focus on new assignments.” said Christian.

Increased efficiency with Strivr

“When it comes to our usage of Strivr I would say that you are helping us with most of our internal processes and tasks. No matter if it’s daily, quarterly, or annually”, says Christian. He also explains that the possibility of adding notification via e-mail within Strivr is highly appreciated. The more intense scrutiny and regulation that financial companies are under was an additional factor for why they turned to Strivr. Managing everything in calendar reminders, checklists, and word documents is getting harder to do, and having to create manual evidence of all key controls is simply not future-proof and costs too much time and energy.

Christian explains that one of the biggest benefits of introducing Strivr is that “with Strivr we have become much more efficient. It’s also very easy to use. After the initial onboarding, we decided to change some of the structure, and even though there was around 30 subprocesses that needed to be changed and moved, it took me less than 15 minutes and we had a completely new structure.

Conclusions

Being a smaller fund manager, it’s even more necessary to use time an energy wisely, not just keeping track of all tasks and manually generating evidence. Having Strivr configured with processes, work descriptions and customized warnings, HealthInvest is more efficient and saving time every day. Strivr makes their operations secure and automatically produces evidence for audit and due diligences without any effort.

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