Invested in RMF Healthcare group last month, didn’t expect it to surge this much! Kasikorn’s K-GHRMF fund, latest NAV at THB 15.4398 (Nov 5, 2026), posted a 1-month trailing return of +13.81%, despite heavy volatility in tech and AI stocks. Why is Healthcare making a strong comeback? This fund is a Feeder Fund investing through its parent fund, JPMorgan Funds – Global Healthcare Fund, Class A (acc) USD, managed by JPMorgan Asset Management, focusing on global healthcare stocks including pharmaceuticals, biotechnology, and medical devices. I see four supporting factors: 1. Sector Rotation: Money is shifting out of expensive and volatile AI/Tech stocks into Healthcare, which has stronger defensive characteristics. 2. Pharmaceutical stocks are rebounding, especially Eli Lilly, fueled by strong sales of diabetes and weight-loss drugs, while other major pharma stocks are also recovering. 3. Midterm Election: Markets anticipate that a Democratic victory could ease pressure on healthcare budget cuts, particularly for Medicaid and hospitals. 4. Valuation and Earnings: After years of stagnation, investors are returning to healthcare businesses with solid profits and long-term demand support. Interestingly, Tareno’s report shows global healthcare stocks rose 9.9% in October, while global equity markets fell 0.8%. Investing last month meant catching the exact moment capital began flowing into this sector—money is definitely moving in.