The Biotech Growth Trust

LN: BIOG

£388.6m market cap

742p last close

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).

Investment summary

The Biotech Growth Trust (BIOG) is managed by Geoff Hsu and Richard Klemm at OrbiMed Capital, one of the leading global healthcare asset managers. The year 2018 proved to be tough for the trust’s performance as biotech companies delivering negative news were heavily penalised, while those delivering good news went unrewarded. However, the managers are optimistic about BIOG’s prospects. They cite a rich industry innovation pipeline that includes a series of technologies with multi-billion-dollar revenue potential; a favourable regulatory environment; and a higher level of deal activity, including major pharma company Bristol-Myers Squibb’s recent bid for Celgene (one of BIOG’s largest holdings) at a significant premium to its pre-bid share price.

Share price graph
Price performance
%
1m
3m
12m
Actual 2.8 10.8 3.1
Relative* 0.7 2.0 0.1
52-week high/low 849.0p/600.0p
*% relative to local index
Key management
Andrew Joy Chairman
Geoffrey Hsu Fund manager
Richard Klemm Fund manager

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