Investment opportunities appear as biotechs falter

The performance of the biotechnology sector during 2002 is dependant on the scale of global recovery, according to Caspar Rock, senior portfolio manager of the Framlington healthcare team. Rock says the performance of biotech companies has, in the past, been closely related to the broader Nasdaq index, however in the last month it has not participated in the rally in tech stocks and is not seen as a cyclical sector to invest in. He adds: 'Biotech bounced in in the fourth quarter of 2001 but it did not participate in the second leg of the technology rally. However, it is well placed ...