Framlington biotech bias

By James Thorneley Antony Milford, manager of the Framlington Health unit trust, is trimming back his 52.5% exposure to biotechnology stocks. The £67m fund, which has an 82% weighting in the US, performed well in the last quarter due to share prices doubling in the biotech sector. In sterling terms the fund appreciated by 42.8%, on a offer to offer basis over this period. Milford said: "The correction in US biotechnology stocks in September and October proved to be a great buying opportunity as the sector surged to new highs on the back of excitement about nearly completed sequencing o...