The Biotech Growth Trust (LSE: BIOG)

Last close As at 27/03/2024

GBP9.87

11.00 (1.13%)

Market capitalisation

GBP329m

The Biotech Growth Trust seeks capital appreciation through investing in the worldwide biotechnology industry. Performance is measured against its benchmark index, the NASDAQ Biotechnology Index (sterling adjusted).

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Equity Analyst

Melanie Jenner

Mel Jenner

Director, Investment Trusts

Key Management

  • Andrew Joy

    Chairman

  • Geoffrey Hsu

    Fund manager

  • Richard Klemm

    Fund manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.9 16.1 23.7
Relative (2.2) 13.1 15.6
52 week high/low 1010.0p/718.0p

Overview

The Biotech Growth Trust’s (BIOG’s) two co-managers, Geoff Hsu and Josh Golomb, at global healthcare specialist OrbiMed, believe that now could be an opportune time to consider the biotech sector as it is recovering from the longest and largest absolute and relative drawdown since 2006. The sector was negatively affected by sharply rising interest rates rather than a deterioration in industry fundamentals; indeed, the managers continue to refer to a ‘golden era’ of innovation within the biotech sector. BIOG’s relative performance has been through a difficult period given its high weighting in emerging (smaller-cap) biotech stocks, which performed significantly worse than the shares of large-cap biotech businesses during the sector sell-off.

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