International Biotechnology Trust

Specialist

Rated Fund 2017-19. Provides diverse exposure to biotechnology companies

International Biotechnology is managed by a four-strong team at SV Life Sciences – Carl Harald Janson, Kate Bingham, Ailsa Craig and Marek Poszepcynski, whose backgrounds combine medical and/or scientific training, financial and commercial experience. This experience enables them to assess potential investment opportunities from a position of technical expertise and experience and consider which companies are the most likely to succeed.

The trust invests in both unquoted (usually earlier stage companies) as well as quoted equities. This broad spectrum of investments provides diversification while still giving exposure to potentially exciting returns.

The managers invest in companies with experienced management and strong potential upside through the development and/or commercialisation of a product, device or enabling technology. They specialise in identifying the successful innovative drugs and medical devices that will serve unmet medical needs and which are in complex disease areas such as diabetes and cancer, as well as the most credible treatments for orphan diseases where the number of patients may be fewer but the path to approval may be smoother with less competition.

The type of companies they select provides investors with exposure to businesses at different stages of their development from early stage innovation, across regulatory hurdles, through to regulatory approval and revenue generation.

The trust predominantly aims to provide long-term capital growth but in 2016 introduced a dividend equivalent to 4% of net asset value, paid half yearly out of capital reserves. Its shares traded on a discount of as wide as 10% over the past year and 20% over three years, but at the end of 2018 they were trading at a small premium to underlying assets.

Narrative and ratings content all as of 01 January 2019.

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Name
International Biotechnology Trust
Manager
SV Life Sciences Managers LLP
Type
Closed Ended Investment Company
ISIN
GB0004559349
Sector
Sector Specialist: Biotechnology & Healthcare
Launched
06/05/1994
OCF
1.36 %
Risk Rating
2
3 Year Sharpe
0.74
3 Year Alpha
6.40
Yield
0 %
Benchmark
NASDAQ Biotechnology TR
Fund Size
£ 248.64 million
NAV
644
Gearing
105
Discount Premium
-1
The objective is to achieve long term capital growth by investing in high growth, development stage biotechnology companies that are either quoted or unquoted. The company invests in companies that are considered to be good value with experienced management and strong potential upside through the development and/or commercialisation of a product, device or enabling technology.
Holding %
Sv Fund Vi Investment 7.57 %
Celgene 6.23 %
Gilead Sciences Inc 5.56 %
Regeneron 4.12 %
Incyte 3.45 %
Acadia 3.35 %
Alexion Pharmaceuticals 3.06 %
Vertex Fund F Class 2.97 %
Stemline 2.68 %
Morphosys 2.59 %
Name
SV Life Sciences Managers LLP
Address
WB2B 6ST, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Carl Harald Janson
Joined 09/02/2013
Ailsa Craig
Joined 03/01/2008
Kate Bingham
Joined 11/01/2000

Data provided by Morningstar.

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