Top UK fund manager to launch major new biotech fund in 2015
- UK fund manager Neil Woodford is launching a new fund full of biotech companies, including many unlisted companies.
- Woodford's firm Woodford Investment Management recently launched the Woodford Equity Income Fund.
- The fund will probably be an investment trust, which will be listed on the London Stock Exchange
The general consensus in the UK is that biotech funds are an up-and-down proposition, but when they perform well, they perform very well. For example, the biotech fund, Axa Framlington Biotech, has returned 243% since 2009.
In addition to betting on the sector, investors will be able to bet on Mr. Woodford's prowess as a fund manager. The fund that he started in June, the Woodford Equity Income Fund, has already returned 6%.
- The Telegraph Neil Woodford to launch new fund