Schroders named manager of International Biotechnology trust
The previous investment manager, SV Health Managers, gave a termination notice to the trust in February.
The previous investment manager, SV Health Managers, gave a termination notice to the trust in February, with the aim to exit by February 2024, to focus on its core healthcare venture business.
The trust's portfolio managers, Alisa Criag and Marek Poszepczynski, will join Schroders and continue working in their current roles. They have been managing IBT since 2006 and 2013, respectively, and were promoted to joint lead managers in 2021.
Investment manager of International Biotech trust gives termination notice
Schroders said it has no plans to change the trust's discount and premium management policy or company strategy.
IBT was founded in 1994 and offers exposure to the biotech sector via an actively managed fund, investing in a portfolio of global quoted biotech stocks as well as a small proportion of unquoted investments.
Alex Tedder, head of global and thematic equities at Schroders, said: «We are delighted to partner with IBT and look forward to working with the board to continue to deliver the company's differentiated proposition for shareholders.
»We will be pleased to welcome Ailsa and Marek and believe that their significant specialist expertise will enhance our thematic capability. Coupled with Schroders' wealth of knowledge and experience of specialist equity strategies, Ailsa and Marek will help to drive shareholder returns in future."
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Kate Cornish-Bowden, chair of IBT, added: «Schroders is an excellent fit for IBT. Following a comprehensive, independent process, we have identified a new fund manager for IBT, which
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