Former AXA Framlington Biotechnology fund manager Andy Smith has joined biopharma specialist Mann Bioinvest to launch an income-focused fund in the coming weeks.
The Magna BioPharma Income fund, slated to launch around the end of Q1 2013, will be managed by Smith, with key decisions overseen by an investment committee. Boutique equity house Charlemagne Capital will distribute the unit trust under its Magna UCITS umbrella, with seed capital provided by Mann Bioinvest chairman Jim Mellon. Two thirds of the portfolio will be invested in global large caps, predominately dividend-paying stocks from the pharmaceutical and medical device sectors, with the remaining third in early-stage companies or turnaround situations with the potential for future ...
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