Investment manager of International Biotech trust gives termination notice

SV Health to exit by February 2024

SV Health Managers, the fund manager and AIFM of the International Biotechnology (IBT) trust, will be terminating its investment management agreement in a year’s time to focus on its core healthcare venture business.

Unless agreed otherwise, the termination will take effect on 9 February 2024, although it could happen earlier if IBT finds a suitable alternative. The board has instructed advisers to review the fund's options to ensure continuity.  While this process continues, there will be no change to the management setup. Lead portfolio managers Ailsa Craig and Marek Poszepczynski have expressed their willingness to continue as joint lead managers "in a different capacity". Craig and Poszepczynski will continue to manage the quoted portfolio (90% of net assets) and Kate Bingham and Houman Ash...