Julius Baer launching biotech fund in UK

Swiss wealth manager Julius Baer is launching its Biotech fund to UK investors.

Launched on 31 January 2008, the Julius Baer Biotech fund's euro share class returned 4.75% in its first full year.

The fund focuses on companies which develop products and technology for four sectors - healthcare, agricultural, food science and environmental.

Managed by Eric Bernhardt and Nathalie Flury, the fund plays on the fact investment in biotech in the US - where this fund focus most of its portfolio - trebled between 1996 and 2008.

Biotech beat the broader indices in 2008 - the S&P500 lost around 40% over the year, while the Nasdaq Biotechnology Index declined by 12%.

Bernhardt says: "Despite the economic downturn biotech earnings expectations remain high. The industry has seen strong M&A activity, strengthening pipelines and revenue growth, and valuations remain attractive."