Source's biotech ETF almost doubled in size the day after Donald Trump won the 2016 US Presidential Election, as the news boosted demand for the sector.
The Source NASDAQ Biotech UCITS ETF saw inflows of $170m on the day after the election result was announced, taking total assets under management (AUM) to $370m. Source joins forces with RBIS for launch of US ETF Chris Mellor, executive director of equities product management at Source, said: "Biotech stocks declined 22% between the start of 2016 and the US Presidential Election, with investors anticipating hostile legislation from another President Clinton. "Instead, a full Republican sweep sent stock prices soaring - our Source NASDAQ Biotech UCITS ETF returned 9% on 9 November. ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
