I invested in the RMF Healthcare sector last month and didn’t expect it to surge this strongly! Kasikorn’s K-GHRMF fund recently had a NAV of THB 15.4398 (as of November 5, 2026), delivering a one-month return of +13.81%, even as tech and AI stocks remain highly volatile. Why has Healthcare suddenly regained momentum? This fund is a feeder fund that invests through its parent fund, JPMorgan Funds – Global Healthcare Fund, Class A (acc) USD, managed by JPMorgan Asset Management. It focuses on global healthcare stocks, including pharmaceuticals, biotechnology, and medical devices. I see four key drivers: 1. Sector Rotation: Capital is shifting away from expensive and volatile AI/tech stocks into Healthcare, which offers stronger defensive characteristics. 2. Pharmaceutical Stocks Rebound: Especially Eli Lilly, buoyed by strong sales of its diabetes and weight-loss drugs, while other major pharma stocks are also recovering. 3. Midterm Elections: Markets anticipate that a Democratic victory could ease pressure on healthcare spending cuts, particularly for Medicaid and hospitals. 4. Valuation and Earnings: After years of underperformance, investors are returning to healthcare businesses with solid profitability and long-term demand fundamentals. Notably, Tareno’s report shows global healthcare stocks rose 9.9% in October, while global equity markets declined 0.8%. Investing last month placed me right at the start of this capital rotation into the sector—money is clearly flowing in.