Portfolio Manager Monthly Commentary

July 2016

Biogen, Amgen, and Regeneron Pharmaceuticals were the top positive contributors to performance during the month. Ono and Gilead were the largest negative contributors. 

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The Biotech Growth Trust PLC conducts its affairs so that its shares can be recommended by independent financial advisers (IFAs) to retail private investors. The shares are excluded from the Financial Conduct Authority's (FCA's) restrictions which apply to non-mainstream investment products because they are shares in a UK-listed investment trust.