Finsbury's Clark moves up a gear

Andy Clark, manager of the £34m Finsbury Life Sciences investment trust, says prices for biotech stocks are now so cheap that he is employing an element of gearing in the trust for the first time in its five year life. Clark says the prices of companies have fallen so far that he wants to use all the 'fire power' he has. He has increased the level of gearing to around 2% and expects that will reach as high as 5%-7% in coming weeks. Until now, Clark has not used gearing in the trust as he considers this to be a high-risk move given the volatility of the underlying holdings. There was a p...