The Biotech Growth Trust has reported that the net asset value per share increased 10.9% to 887.7p as at 30 September, compared to 800.8p as at 31 March.
Its share price increased 10.3% over the 6 month period to 825.0p, compared to a rise of 6.6% in the Company's benchmark.
The Company said:
"It is pleasing to note the substantial outperformance against the Benchmark during the period as this follows last year's slight underperformance. This outperformance reflects stock selection, most notably Vertex Pharmaceuticals, which was the Company's largest overweight position relative to the Benchmark. It should also be noted that the level of gearing employed increased over the period, rising from 3.2% at 31 March 2017 to 9.2% as at 30 September 2017. Further information regarding this and also the Companys investments can be found in the Portfolio Manager's Review."
At 2:10pm: (LON:BIOG) Biotech Gwth share price was +5p at 823p