AXA Framlington Biotech: It can trip up 投資家s, but the 事例／患者 for 投資するing in 生物工学 株 is still strong

By Jeff Prestridge, 財政上の Mail on Sunday

Updated:

The 事例／患者 for 投資するing in 生物工学 株 is a strong one. These are the companies that are enabling us to live longer by coming up with new exciting 麻薬s which 扱う／治療する ありふれた 病気s such as 糖尿病 and heart 条件s. Some have also been at the 最前部 of developing anti-viral 麻薬s to fight Covid.?

Yet, as far as 投資家s are 関心d, biotech is not a one-way ticket to making a fortune. For every 麻薬 that makes it to market and 得るs rich rewards for the company behind it, there are hundreds that 落ちる by the wayside as a result of failing 臨床の 裁判，公判s.?

For some of the embryonic biotech companies in particular, a 麻薬 that does not make it to market often means curtains.?

Biotech can therefore 代表する something of a minefield for 投資家s, not helped by the fact that most companies are US based and 名簿（に載せる）／表（にあげる）d on the Nasdaq 株式市場 ? UK biotech 在庫／株s are few and far between. The 株 prices of biotech companies are also 傾向がある to 劇の 転換s in?感情. It's why an 投資 基金, 投資するing in a 大臣の地位 of 在庫／株s, is the best approach.?

主要な 基金s in the 部門 含む £255million 投資 信用 Int ernational 生物工学, managed by London-based SV Health 投資家s, a specialist in healthcare 投資s. It's where Kate Bingham, the former 長，率いる of the UK's ワクチン Taskforce, 作品.?

An even bigger 基金 is Axa Framlington Biotech, 21 years old, 資産s of £379million, and managed for the past １０年間 by Linden Thomson who has 19 years' experience of 投資するing in healthcare 在庫／株s.?

Working と一緒に her are Peter Hughes, who has a PhD in biochemistry from University College London, and Cinney Zhang who joined Axa last November after seven years of 存在 an 公正，普通株主権 研究 分析家 specialising in 製薬のs and biotech 在庫／株s.?

Thomson, who has a degree from Edinburgh University in 医療の microbiology, says her training and experience is useful?in a 急速な／放蕩な-changing 部門. 'I've been looking at biotech 在庫／株s for almost 20 years,' she says. 'I've grown up with a lot of these companies and they've grown into large successful 商売／仕事s. But there are new 適切な時期s all the time ? new start-ups and an 現れるing biotech 産業 developing in 中国.'?

Long 称する，呼ぶ／期間／用語, the Axa 基金 has 成し遂げるd 井戸／弁護士席. Over the past ten years, it has 生成するd a return of 317 per cent, but the shorter 称する，呼ぶ／期間／用語 numbers are いっそう少なく impressive. Over the past five years, it has 配達するd a return of 31 per cent, while producing losses of 9 per cent over the past year. To put in 状況, they all 代表する better returns than if an in vestor had bought a 基金 跡をつけるing the Nasdaq 生物工学 索引, its （判断の）基準.?

'The tailwinds 運動ing this 部門 今後 are strong,' argues Thomson. 'We're living longer, we need more 麻薬s as we age, and there's a burgeoning biotech 産業 in 中国. Yes, 株 prices are some 40 to 50 per cent lower than they were two years ago, but my 見解（をとる） is that some valuations are now too low.' In other words, they 代表する 取引s.?

Thomson prefers to 投資する in 中央の to large-sized biotech companies and sidesteps most 商売／仕事s that come to market with 麻薬s that have yet to 論証する 'proof of 概念' ? in other words, that they may be therapeutically successful on humans. The biggest holdings の中で the 53-strong 大臣の地位 are Regeneron 製薬のs and Gilead Sciences, companies that have been at the 最前部 of 戦闘ing Covid.?

The 基金's 株式市場 身元確認，身分証明 code is 3100725 and the 年次の 告発（する），告訴（する）／料金s total 1.57 per cent. It's a specialist 基金, so only buy as part of a diversified 大臣の地位.

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