Portfolio Manager Monthly Commentary

April 2016

Ono Pharmaceuticals, Amgen, and Biogen were the top positive contributors to performance during the month. Illumina shares underperformed following the pre-announcement of disappointing first quarter results and reduced 2016 guidance. 

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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.