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The Biotech Growth Trust


Market Cap£566.8m

Last Close 1358p

The Biotech Growth Trust 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) generated another year of positive absolute and relative performance in 2020. Manager Geoff Hsu of global specialist healthcare investor OrbiMed Capital remains constructive on the outlook for biotech stocks, although he is mindful about the extended bull run in the US stock market. The manager is particularly encouraged by the high levels of biotech industry innovation; he believes that the favourable regulatory environment will continue and does not consider healthcare legislation to be a high priority for President Biden. Hsu comments that the biotech industry has ‘come of age’ over the last decade; he highlights the high number of initial public offerings (IPOs) in the sector, while the level of merger and acquisition (M&A) activity has remained robust despite the shift to working from home during the COVID-19 pandemic.

Content on The Biotech Growth Trust
The Biotech Growth Trust – Favourable industry fundamentals
Investment companies | Review | 9 March 2021
The Biotech Growth Trust – Firing on all cylinders
Investment companies | Review | 10 August 2020
The Biotech Growth Trust – Positive outlook for 2020
Investment companies | Review | 24 January 2020
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Share price graph
Price performance
Actual 0.3 (7.7) 8.8
Relative* (0.3) (12.4) (5.8)
52-week high/low 1736.0p/1170.0p
*% relative to local index
Key management
Andrew Joy Chairman
Geoffrey Hsu Fund manager
Richard Klemm Fund manager

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