I said last month that I was upbeat about the biotech sector and I still am. So I thought it made sense to take a closer look at The International Biotechnology Trust (LSE: IBT) which announced its annual results yesterday.
This investment trust has certainly performed well in recent years. Over the last three years its share price has jumped 52% and things have gone even better over the last year. The share price has risen 31% to 136p while the value of underlying portfolio or Net Asset Value (NAV) has moved up 17% to 142.25p. That’s way ahead of the Nasdaq Biotech index which has slipped 3% over the same period….
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