Polar Capital Holdings has launched an open-ended biotechnology Ucits fund to be managed by David Pinniger, who was recently hired from SV Life Sciences where he managed the
International Biotechnology Trust.
The Polar Capital Biotechnology Fund aims to achieve long-term capital growth by investing in a globally diversified portfolio of biotechnology companies.
Pinniger will construct a portfolio of between 40 and 60 investments, focusing on medical innovation, with performance benchmarked against the Nasdaq Biotechnology Index.
“Advances in information technology – in particular increases in computer processing power – are enabling medical science to make rapid advances in understanding the complex biology of health and disease,” Pinniger says.
“In recent years, we’ve also seen a proliferation of tools and technologies that are enabling new ways of targeting the molecular basis of disease.”
Pinniger says highly innovative products being developed by biotechnology companies are a trend that is key to managing his new fund.
He adds that he will seek companies where it is believed successful development of a drug, device or diagnostic tool has the potential to transform the treatment of a disease where there is unmet medical need.
The fund is available in sterling, US dollar and euro-denominated share classes. The annual management charge is 1.5% on the retail share class and 1% on the institutional share class.
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