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Tekla Healthcare top specialist fund performer in July

Tekla Healthcare top specialist fund performer in July

Tekla Healthcare top specialist fund performer in July

Tekla Healthcare Opportunities, a  US closed end fund that invests largely in US large cap pharma and biotech, saw the best investment performance of the 14 specialist biotech specialist investors monitored by Marten & Co, in terms of its sterling-adjusted NAV performance for the month of July. Switzerland’s BB Healthcare came in second place and was the ranked top European vehicle and one of only three trusts to have matched or beaten the 6.8% rise in the Nasdaq Biotechnology index.

International Biotech Trust (IBT) was also notable for its strong share price performance in July: its stock rise by 9.5% in the month, outstripping the more modest 3.5% rise in NAV. IBT’s discount to NAV closed to just 1.2%, coincident with the publication of Marten & Co’s initiation note.

Syncona (SYNC) and Woodford Patient Capital Trust (WPCT) both saw small falls in both NAV and share price.

Marten & Co’s ranking of NAV and share price performance in July is shown in the table below:

Investment Trust  NAV, % change  Price, % change
Tekla Healthcare Opportunities 7.0 5.7
BB Healthcare 6.9 6.6
Tekla World Healthcare 6.8 6.4
iShares Nasdaq Biotechnology  6.8 6.8
Tekla Healthcare Investors 6.1 4.4
HBM Healthcare Investments 5.9 5.7
Polar Capital Global Healthcare 5.6 5.4
Biotech Growth Trust 5.3 3.9
Tekla Life Sciences Investors 4.7 5.2
BlackRock Health Sciences 4.6 4.9
Worldwide Healthcare Trust 4.2 4.3
International Biotechnology 3.4 9.5
BB Biotech 3.1 2.8
Syncona -0.2 -0.2
Woodford Patient Capital Trust -1.7 -4.6


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