share prices

The Biotech Growth Trust

LN: BIOG

£404m market cap

1005p 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. They remain optimistic about the prospects for the sector in 2020 due to high levels of innovation and a relaxed regulatory environment, while a continuation in merger and acquisition (M&A) activity would also likely provide further support for biotech shares. The managers are very encouraged by the trust’s much-improved investment performance in recent months, noting they are being rewarded by the market for their in-depth fundamental research and portfolio positioning in favour of emerging rather than large-cap biotech stocks. BIOG’s NAV has now outperformed the NASDAQ Biotechnology index benchmark over the last one, three, five and 10 years.

Share price graph
Price performance
%
1m
3m
12m
Actual 7.5 32.6 39.7
Relative* 9.5 29.4 32.4
52-week high/low 1005.0p/670.0p
*% relative to local index
Key management
Andrew Joy Chairman
Geoffrey Hsu Fund manager
Richard Klemm Fund manager

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