ASX healthcare shares could outperform in 2021: Fundie

ASX healthcare shares could outperform in 2021, according to the Sydney-based portfolio manager of American Century Investments.

This is despite a drop in healthcare spending this year after many nations, including Australia, postponed non-urgent care due to COVID-19. 

The fund manager expects government healthcare spending to increase significantly, as COVID-19 vaccines start to roll out globally and demand for aged care increases over the longer term.

What else did the fundie say

According to American Century Investments’ Michael Li, healthcare stocks have the potential for good relative performance based on short and long-term factors.

He cited a report from the Economist Intelligence Unit, which said that although healthcare…