Portfolio Manager Factsheet
Vertex, Alexion, and DBV Technologies were the top positive contributors to performance during the month. Clovis shares underperformed due to the interpretation by investors that the likelihood of Clovis being acquired was reduced following the announcement of a collaboration with Bristol-Myers.
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.