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Australian Unity launches new fund

Australian Unity has launched the Australian Unity Future of Healthcare Fund aiming to increase the wellbeing of all Australians by investing in the future healthcare needs of the community.

Australian Unity said the "first of its kind" fund will invest across a range of sectors and asset classes including venture capital and private equity; domestic and international listed equities; and social infrastructure such as medical and health-related real estate.

Australian Unity managing director Rohan Mead said Australian Unity has a distinguished track record in providing innovative health solutions to its customers and members.

"Australia needs purpose-driven investments that address our ageing population, the rise of chronic and non-communicable disease, disability, mental health, and the shortage of social and medical infrastructure," Mead said.

"The Future of Healthcare Fund is a natural progression for Australian Unity. It builds on our past, brings together our unique capability, and will enhance the wellbeing of Australians through investment in preventative and remedial healthcare and health associated businesses and assets."

Chief investment officer, Australian Unity Wealth & Capital Markets, Joe Fernandes said the fund will draw on Australian Unity's breadth of expertise and long-established capability in the health sector.

"As an investment manager, we're ideally placed to bring together Australian Unity's experience and insights from its diversified businesses across private health insurance, healthcare, aged care, healthcare property, social infrastructure, funds management and venture capital," he said.

Portfolio manager for the fund, Victor Windeyer said: "The fund will actively contribute to the future capacity of the healthcare sector through its investments which will benefit the wellbeing of Australians. A great example of the fund's impact on all Australians is the first investment it has agreed to make in Lumos Diagnostics - a medtech that helps healthcare professionals more accurately diagnose and manage medical conditions."

"One of Lumos' most exciting products is a test that tells doctors within 10 minutes if their patient has a viral or bacterial infection which can be used to help triage patients at the point of care and avoid unnecessary use of antibiotics.

"Lumos is an example of a company that could do well not only for investors in the fund but also for improving community wellbeing and we look forward to investing in many more exciting healthcare initiatives over time."

Read more: Australian UnityFuture of Healthcare FundRohan MeadJoe FernandesVictor Windeyer
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