By James Thorneley Antony Milford, manager of the Framlington Health unit trust, is trimming back hi...
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...
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