John Baron's Investment Trust Portfolio 

Biotechnology – best yet to come?

Biotechnology – best yet to come?

During the spring of 2014, the biotechnology sector hit some turbulence and prices fell sharply. The column piece ‘Sticking with biotech’ (9 May 2014) suggested investors keep their nerve and, if underweight, buy. The sector bounced and we have travelled a long way since. However, recently, the sector has been somewhat volatile and yet lacklustre, despite its exciting potential – this in large part being because the larger companies have seen a de-rating. But this de-rating masks the robust health of the sector’s smaller companies. The time has come for these companies to pick up the torch. We are about to see a change in sector leadership which should benefit the patient investor.

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