The Biotech Growth Trust has announced its net asset value per share rose by 18.4 per cent, outpacing the Nasdaq Biotech index benchmark’s 14.9 per cent return, gain during its interim results for the six months to 30 September 2012.
According to the firm the biotechnology sector has outperformed the broader market during the review period.
The investment trust reports: “Large-cap biotech stocks enjoyed strong financial performance and favourable valuations compared to their pharmaceutical peers.
“Meanwhile, smaller companies benefitted from positive pipeline advancement and the increase in merger and acquisition activity beginning last year.”
The top contributors to performance in the portfolio were Onyx Pharmaceuticals, Gilead Sciences, Affymax, Amgen and Infinity Pharmaceuticals.