明星基金經理的選擇：2013年15大金股

吉利德科學

克里斯·詹納T. Rowe Price Health Sciences基金

股票代碼：(GILD,?財富500強)

行業：醫藥

????曾經當過醫生的克里斯·詹納從2000年開始管理炙手可熱的T. Rowe Price Health Sciences基金。這只資產規模49億美元的基金在過去10年實現年化收益率13.6%，顯著高于同類基金的9.0%。詹納開出的處方是：生物科技巨頭吉利德科學，該基金的一只重倉股。吉利德（Gilead）曾因一款艾滋病藥丸（日服一次）名聲大噪。詹納相信它的一款丙肝新藥sofosbuvir應能重現這樣的成功。相比當前標準療法使用的干擾素，這款新藥的治愈率更高，毒性更低。

????市場龐大：美國有超過400萬丙肝患者?！氨问袌鰞r值將超過100億美元，”詹納說。“我們現在正處于黎明前夕?！彼A計2016年年前，吉利德的營收年均增幅將達到16%，而每股收益年均增長27%。以最近股價75美元計，這只股票并不便宜——2012年以來累計上漲84%，最近股價是今年普遍預期每股收益的20倍。詹納建議，可等待股價回落之機買進。但估計需要耐心。詹納說：“在同業組中，該公司的營收和利潤增長將無人能及?！?/p>

????——A.F.

Gilead Sciences

Kris Jenner?T. Rowe Price Health Sciences

Ticker:?(GILD,?Fortune 500)

Sector pick:?Health care

????Kris Jenner, a former doctor, has operated the white-hot?T. Rowe Price Health Sciences Fund?(PRHSX)?since 2000. With $4.9 billion in assets, it has delivered an annualized 13.6% gain for the past decade, drubbing its peers' 9.0%. Jenner's prescription: shares of biotech giant Gilead Sciences, one of his fund's largest positions. Gilead made its mark with a once-a-day HIV pill, and Jenner thinks it can repeat that success with a new treatment for hepatitis C. Known as sofosbuvir, it has a higher cure rate with less toxicity than interferon, the standard treatment, he says.

????The market is huge: More than 4 million people have hepatitis C in the U.S. "The hepatitis C market will be in excess of $10 billion," says Jenner, "and we are at the dawn of that market." He believes Gilead's revenue could rise 16% a year through 2016, with earnings per share soaring 27% annually. At a recent $75, the shares aren't cheap -- they're up 84% since the beginning of 2012 and trade at 20 times this year's consensus forecast. Jenner advises waiting for a pullback before buying. But be patient. "In its peer group," he says, "it's going to be unrivaled in terms of its revenues and earnings growth."

????--A.F.