The Biotech Growth Trust

LN: BIOG

Market Cap£374m

Last Close 933.5p

BIOG seeks capital appreciation through investing in the worldwide biotechnology industry, mainly in emerging biotechnology companies. Performance is measured against its benchmark index, the NASDAQ Biotechnology Index (sterling adjusted).

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Investment summary

The Biotech Growth Trust (BIOG) is managed by global healthcare specialist OrbiMed Capital. Despite a reversal in the trust’s relative performance following a very successful FY21 (ending 31 March 2021), manager Geoff Hsu is continuing to favour smaller-cap, emerging biotech stocks, as he says these companies are where the bulk of industry innovation occurs, and this is the primary driver of the biotech sector’s long-term positive performance. The manager believes that the latest drawdown in biotech stocks, which is unprecedented in both magnitude and duration, has led to a very large disconnect between favourable industry fundamentals and very low biotech company valuations. Over the last year, BIOG’s portfolio has become increasingly concentrated as Hsu and his team are focusing more on their highest-conviction investments.

Content on The Biotech Growth Trust
The Biotech Growth Trust – No style drift, sticking to long-term winning ways
Investment companies | research Review | 5 September 2022
Biotech 1
The Biotech Growth Trust – Manager expects a reversal of recent results
Investment companies | research Review | 1 April 2022
Biotech 1
The Biotech Growth Trust – Performance setback may provide an opportunity
Investment companies | research Review | 8 September 2021
Biotech 1
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Share price graph
Price performance
%
1m
3m
12m
Actual 0.5 (6.5) (20.2)
Relative* (5.8) (7.3) (21.3)
52-week high/low 1214.0p/753.0p
*% relative to local index
Key management
Andrew Joy Chairman
Geoffrey Hsu Fund manager
Richard Klemm Fund manager

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