Fund managers welcome historic US healthcare bill

Fund managers have hailed the approval of a landmark healthcare reform bill in the US as a significant step in removing the uncertainty that has plagued the sector for the past two years.

US investors and sector specialists say the result offers a lot more visibility on the future of healthcare provision. However, there are still a number of legislative hoops and political horse-trading ahead before President Barack Obama can sign his sweeping welfare reform into law. "Even back in August last year, it became clear that the plan being thrashed out was going to target the healthcare insurance sector rather than the wider market," says John Benson, vice-president at Colorado-based Marsico Capital Management, which runs Gartmore's US equity funds. "That understanding prop...