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

BB Biotech

SW: BION

CHF3819.8m market cap

CHF68.95 last close

BB Biotech (BION) is a Switzerland-based investment company, targeting long-term capital growth from biotechnology companies that are developing and marketing innovative drugs. At least 90% (currently 100%) of the portfolio is invested in listed companies, primarily those that already have products on the market or have promising drug candidates in advanced stages of development. BION is benchmarked against the Nasdaq Biotechnology index (in Swiss francs) but is managed on a bottom-up basis, with a concentrated c 20–35 stock portfolio.

Investment summary

BB Biotech (BION) recently updated the market on its views on the COVID-19 pandemic and how they are reflected in its portfolio (see video link below and the investor update). While direct exposure to infectious disease specialists in the portfolio is low, lead manager Daniel Koller expects a promising vaccine candidate could arise from one of the fund’s holdings in companies with RNA-based technologies (five RNA medicine-focused positions make up c 25% of the portfolio). The BION team recently finished an 18-month process of rebalancing the portfolio towards promising small and mid-cap companies to drive future growth. While this has proved a headwind for recent performance, over the long term BION has produced double-digit annual total returns in both share price and NAV terms.

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Share price graph
Price performance
%
1m
3m
12m
Actual 13.5 2.5 (0.6)
Relative* 6.9 (0.1) (0.4)
52-week high/low CHF71.2/CHF45.4
*% 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