Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens

BB Biotech

SW: BION

CHF3617.6m market cap

CHF65.3 last close

BION is a Switzerland-domiciled investment company, targeting attractive long-term returns from predominantly mid-/large-cap biotech companies with established product portfolios (sales and earnings) and promising pipeline candidates. It is benchmarked against the NASDAQ Biotech Index, but is managed bottom-up with a concentrated 20-35 stock portfolio.

Investment summary

BB Biotech (BION) has continued the process of refocusing its portfolio on innovative smaller and mid-cap stocks, selling out of bigger names such as Novo Nordisk and Regeneron, and taking new positions in smaller stocks at the cutting edge of genetic medicine. The Switzerland-based fund retains a highly concentrated portfolio of c 30–35 stocks (and five to eight core holdings make up more than half of total assets), but has a broad spread of clinical indications and development stages. Lead Manager Daniel Koller says that focusing the portfolio away from the big index names allows BION to remain relevant to investors who may hold such stocks directly. The fund has a high distribution policy (funded out of capital returns) and currently yields 4.6%.

Share price graph
Price performance
%
1m
3m
12m
Actual 6.0 8.6 5.2
Relative* 3.3 1.2 (9.5)
52-week high/low CHF73.2/CHF56.1
*% relative to local index
Key management
Erich Hunziker Chairman
Claude Mikkelsen Director of IR
Daniel Koller Head of Investment Management
Dr. Silvia Schanz Investor Relations