The BB Healthcare Trust will be managed by Bellevue, which has around $4bn (£3.3bn) under management in the healthcare industry across numerous areas.
The company is aiming to float the trust in early December.
“Bellevue has earned the respect of the industry for the performance it has generated with BB Biotech,” said BB Healthcare Trust chairman Justin Stebbing.
“This new investment trust, BB Healthcare, will give investors access to these same skills, but across the wider globalhealthcare market.
“The world is getting richer, older and spending more on a range of healthcare products and services. Healthcare equity valuations do not currently fully reflect the long term potential of the industry.
“In Bellevue we have a portfolio manager that has an established fundamental approach that has consistently identified opportunities and delivered for investors.”
The company plans to make the trust unconstrained and able to invest regardless of its market capitalisation. The trust will be concentrated, with a maximum of 35 holdings.
This morning, Misys became the fourth company to pull plans for an IPO this month, after Pure Gym, TI Fluid Systems and Mountain Warehouse.