Biotech Growth trust NAV up 10% despite 'very difficult period'

Outperforms its benchmark

The Biotech Growth Trust has reported its net asset value rose 9.6% in the six months to the end of September after “a very difficult period”.

The results meant the trust beat the NASDAQ Biotechnology Index, its benchmark, which returned 6.8% during the same time. Price per share for the trust, which is co-managed by Geoffrey C. Hsu, increased to 994p, up from 898p at the end of March. The discount of share price to NAV per share is 5.3%, down from 6.3%. When combined with the increase in NAV, this reduction in the discount contributed to a share price return over the six months of 10.7%. A number of factors contributed to improvements in the trust's performance, including increased levels of merger and acquisition act...