The continuing correction in the biotechnology market is the main reason for a fall of 23.3% in the ...
The continuing correction in the biotechnology market is the main reason for a fall of 23.3% in the NAV per share of the International Biotechnology Trust (IBT) over the six months to 28 February 2002, according to managers Schroder Venture Life Sciences (SVLS). This compares with a fall in the Nasdaq Biotechnology Index of 13% in sterling terms and a fall of Bloomberg UK Biotechnology Index of 29.4% during the same period. SVLS said a further cause of underperformance has been writedowns in the value of holdings it inherited after becoming the manager of the trust last year.
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