Portfolio Manager Factsheet

November 2017

Bluebird Bio, Illumina, and Juno Therapeutics were the top positive contributors to performance during the month. Puma shares underperformed due to disappointing sales of Nerlynx in its first quarter on the market.

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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.