AMIDEX Mutual Funds, a small investment manager in New York, announced the launch of AMIDEX Cancer Innovations & Healthcare Mutual Fund, the first mutual fund that is "targeted at cancer."
Direct medical expenses attributable to cancer exceed $60 billion, according to AMIDEX. "Almost half of all medicines now in clinical trials are drugs targeted at cancer," said Robert Naismith, CEO of eMedsecurities. "I see this subset of the healthcare industry as one of the most significant for the next decade."
AMIDEX also manages the AMIDEX35 Mutual Fund, which invests in the largest Israeli companies traded on Wall Street or in Tel Aviv, and the AMIDEX Israel Technology Fund, which invests in small- and medium-sized Israeli technology firms that are listed on the NASDAQ. Those funds have $9 million and $1 million in assets under management, respectively.