Portfolio Manager Factsheet

April 2018

Alexion, Deciphera and Insmed were the top positive contributors to performance during the month. Shares of Alnylam were weak due to the release of unexpected positive Phase 3 data from a competitor product to the company’s lead asset patisiran.

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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.