BB Biotech - Strong focus on emerging clinical areas
BB Biotech (BION) is a Switzerland-based closed-end fund focusing on the high-growth opportunities available in the global biotechnology space. Founded in 1993 by industry specialist Bellevue Asset Management, BION holds a concentrated (c 30–35 stocks) portfolio of biotech names, which are diversified across a range of clinical focuses. The fund’s strong record of NAV outperformance versus the headline NASDAQ Biotechnology index has suffered a setback in the past 12 months. However, the managers remain optimistic on medium-term clinical catalysts and have recently refreshed the portfolio with a number of new holdings. BION has a policy of paying c 5% of its share price annually as a dividend, which, along with a shift in the shareholder base to include more long-term investors and fewer discount players, has supported a strong re-rating in the shares. The fund has traded at an average 7.1% premium to NAV in the past 12 months.Co.'s principal activity is to invest in biotechnology companies globally. The investments are held through its wholly-owned subsidiaries: Biotech Focus N.V., Biotech Invest N.V., Biotech Target N.V., and Biotech Growth N.V., all of which are located in Curacao. Co. acquires holdings in companies in the biotechnology growth market. The focus of the holdings is on quoted companies that are concentrating on the development and marketing of innovative medicines. For the selection of holdings, Co. relies on fundamental analysis by physicians and molecular biologists.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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