Edison issues review on The Biotech Growth Trust

RNS Number : 6910V

Biotech Growth Trust PLC (The)

10 August 2020

 

London, UK, 10 August 2020

Edison issues review on The Biotech Growth Trust (BIOG)

The Biotech Growth Trust (BIOG) is managed by Geoff Hsu, who is able to draw on the considerable resources of specialist healthcare investor OrbiMed Capital. While biotech stocks have rallied strongly following the coronavirus-led stock market sell-off earlier in 2020, the manager believes they could have further to go. He is confident that a successful COVID-19 vaccine will be developed and positive fundamentals are supportive for the biotech sector's future performance. Repositioning of BIOG's portfolio during FY20 has been accretive to the trust's returns in recent quarters; it has now outperformed its benchmark NASDAQ Biotechnology index over the past one, three, five and 10 years, and investors have also enjoyed very solid absolute total returns of more than 20% pa over the past decade.

BIOG has an active discount control programme, aiming to limit the discount to a maximum of c 6% in normal market conditions. The trust's current 3.3% share price premium to cum-income NAV compares with a 5.5% to 7.2% range of average discounts over the past one, three, five and 10 years. 

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