International Biotechnol... Share Discussion Threads

[robsy2] 02/11/2019 17:21

I have been a holder for a while but this has really trod water over the past few years ... not sure what to do . I just want to be invested in this area or similar healthcare as part of a long term thematic positioning in healthcare , medicine , biotech etc. I am wondering out loud if I am in the right place here . Anyone got any bright ideas?
R

[speedsgh] 29/10/2019 13:13

Dividends, buybacks, share issuance and discount

I am pleased to report that the Company's fifth and sixth dividend payments were made during the financial year. We paid out a dividend equal to 4% of NAV as at 31 August 2018 in two equal tranches on 31 January 2019 and 31 August 2019, equating to a 4.1% increase when compared with dividend payments in the previous year.

In accordance with the Shareholder Circular dated 13 September 2016 and as a matter of best practice, the Board will be seeking Shareholder approval to continue the payment of dividends and a resolution will be put to Shareholders at the forthcoming Annual General Meeting (AGM)...

[shieldbug] 23/10/2019 11:29

IBT hit by pound strengthening and dividend payout?

[speedsgh] 07/10/2019 11:28

According to the most recent monthly factsheet, the NAV as at financial year end on 31/8/2019 was £239m (622p per share).



Current dividend policy is to pay out an amount eqivalent to 4% of yr end NAV in two tranches.

NAV as at 31/8/2018 was 699p which equated to a dividend of 28.0p in the current FY (2 x 14.0p payments)

If NAV as at 31/8/2019 was 622p, this would appear to equate to a dividend of 24.75-25.0p over the next 12 months, which would represent a reduction of c.11-12%.

[sharesoc] 29/4/2019 10:54

You can meet the managers of International Biotechnology Trust at the Mello Trust and Funds Show. We all have discounted tickets available from ShareSoc, full members get an originally £49 ticket for the reduced price of £24.50 -

[davebowler] 08/3/2019 10:31

QuoteData-
Beating the odds view report

Strategic positioning in mid-2018 helped International Biotechnology Trust (IBT) beat its benchmark over the past six months and close its discount to net asset value (NAV). This continued its outperformance of the US Nasdaq Biotechnology Index (NBI) over three and five years. Active management of the portfolio and an increased focus on larger mid-caps played out well in terms of IBT’s performance versus its peers.

IBT’s manager is maintaining its established policy of active risk mitigation, designed to avoid exposure to binary events that can cause large swings in the share price (typically the results of the Phase III trials that provide the final confirmation of safety and efficacy before the FDA approves a treatment for marketing). This should be seen as another attraction to investors in the trust. IBT’s shares have recently moved to trade at a premium to NAV and it has been issuing stock, expanding the fund.

SECTOR:
SECTOR SPECIALIST - BIOTECHNOLOGY AND HEALTHCARE
TICKER:
IBT LN
BASE CURRENCY:
GBP (PENCE)
PRICE:
634.00P
NAV:
636.40P
PREMIUM/(DISCOUNT):
(0.4%)
YIELD:
4.4%

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spacer ACCESS TO THE FAST-GROWING BIOTECH SECTOR charticon spacer
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IBT is the longest-established of the London-listed funds specialising in the biotech/healthcare sector. It aims to achieve long-term capital growth by investing in biotechnology and other life sciences companies, and offers investors the highest yield in the sector while keeping its day-to-day running costs low. The portfolio is invested primarily in quoted companies, but IBT also has some exposure to unquoted compani

[tomps2] 27/1/2019 14:53

Here's IBTs presentation at Mello London 2018, given by Carl Harald Janson, Lead Investment Manager.

A comprehensive overview of the IT, which gives insight to the biotech sector, the growth drivers, the investment process at IBT, risk and how handled.

[davidosh] 24/10/2018 13:25

Just to let you all know that IBT will be exhibiting and presenting at our very big investor event in Chiswick W4 next month on 26th and 27th November. MelloLondon is a two day event and starts on Monday 26th November. You can find out more here...



There will be 60 quality companies exhibiting and presenting plus some very well known investors, entrepreneurs, fund managers and market commentators providing excellent keynote talks on a range of investment subjects. A number of investment workshops will be available each day and a ShareSoc MasterClass on the final day.

[speedsgh] 24/10/2018 10:28

IBT factsheet (Sept 2018) -

OUTLOOK
Based on strong Q2 earnings, the market has shown increased interest in the larger biotechnology companies. Uncertainty created by looming US mid-term elections in November may generate continued favour towards larger companies in the sector. Our view is that the Republican Party will remain industry friendly and expect free market forces to continue unchanged, but the outcome of the elections is still uncertain.

Whatever the outcome, we expect the innovative mid and small caps to thrive. Innovation is stronger than ever, demonstrated in areas like oncology, where many new drugs and drug classes meet a great medical need. However, it is our view that the current valuation of the healthcare sector remains low.

[tomps2] 17/8/2018 14:56

Video of the IBT presentation at ShareSoc April 18, by Lead Investment Manager Dr Carl Harald Janson.



International Biotechnology Trust offers investors access to the fast growing biotechnology sector through an actively managed, diversified fund. Its award winning fund managers at SV Health Investors are scientifically and medically trained with over 60 years of experience in this specialist sector between them. As well as investing in a wide ranging portfolio of global quoted biotechnology stocks, we include a small proportion of otherwise inaccessible carefully selected unquoted investments which have the potential to deliver additional returns over the long term. Excellent management teams, unique innovative products and strong potential for outperformance are the key criteria for inclusion in our diversified portfolio of assets.

International Biotechnology Trust introduction video – 00:22
Dr Carl Harald Janson, Lead Investment Manager introduction – 03:07
Performance 1, 3 & 5 years – 3:47
Dividend – 05:06
Share price/discount – 05:42
Dividend sustainability – 06:34
Biotech is a high growth sector – 07:25
Favourable regulatory environment – 10:45
Worldwide pharma sales – 11:15
M&A – 11:37
Risks – 13:15
The US market – 14:11
Sector valuation – 16:13
IBT investment process – 17:04
Risk mitigation – 17:54
Portfolio breakdown – 19:42
Oncology treatment options – 21:54
Top 10 holdings – 23:14
Unqouted portfolio – 24:00
Awards & Summary -25:58
Q&A -25:19

[speedsgh] 15/8/2018 14:28

Portfolio Update -

The Board of International Biotechnology Trust plc (the Company) notes the following unquoted portfolio event.

The Company has received quarterly investor reporting in relation to its investment in the unlisted venture capital fund, SV Fund VI.

SV Fund VI's latest quarterly investor report values the Company's investment at $25.0m (£19.6m), an uplift of $3.4m (£2.7m) on the valuation of $21.6m (£16.9m) which was included in the Company's Net Asset Value (NAV) calculation for 13 August 2018.

In line with the Company's accounting policy, valuation movements following receipt of quarterly investor reports are reflected in the next reported NAV. Therefore, the increase in NAV to be reported today, as at 14 August 2018, will be £2.7m or 7.2 pence per share.

[the oak tree] 20/7/2018 17:55

Thanks Speedsgh.

[speedsgh] 09/7/2018 13:00

Think this may have had a helping hand from the latest article in John Baron's Investment Trust Portfolio column in Investors Chronicle...

Biotechnology: best yet to come? -

[mad foetus] 09/7/2018 12:14

Looking like this is breaking out. About time!

[sharesoc] 30/4/2018 13:01

The International Biotechnology presentation and stockopedia report from our seminar in London on the 18th April can be found in our members area here:

[speedsgh] 26/4/2018 15:57

Half-year Report -

Summary

In the shorter term, over the six months to 28 February 2018, the NAV per Ordinary share of the Company fell from 672.9p to 603.2p. The decrease in NAV per share was driven by a dividend payment of 13.5p per share, that was announced in December 2017 and paid on 31 January 2018, and a currency loss of £16.9m, equivalent to 45.0 pence per share. The NAV per share returned -6.5% including the dividend. Over the same period, the Ordinary share price of the Company decreased by 4.0%. This compares to a fall in the NBI of 8.8% and a fall in the FTSE All-Share Index of 0.9%. All figures are on a total return basis and are sterling-adjusted.

Performance has been held back by the impact of the GBP strengthening 6.4% vs. the USD over the period. With the prospect of increased growth and innovation, I believe the biotechnology sector remains an attractive sector for our investors, capable of delivering enhanced Shareholder returns. The outlook is more fully explained in the Investment Manager's Review...

Dividends, buybacks and discount

I am pleased to report a dividend payment was made to our Shareholders on 31 January 2018 at a rate of 13.5p per share, a 17.4% increase on last year's dividend. The second tranche of the dividend will be announced in July, and is expected to be 13.5p, with the two equal tranches equating to 4% of NAV as at 31 August 2017.

Since the announcement of our policy changes and the introduction of the dividend in September 2016, no further buybacks have been required in line with our discount control policy. Indeed, the discount narrowed to 2.9% from 7.3% at the previous year end.

Performance fee

No performance fee has been generated by either the quoted portfolio or the unquoted portfolio in the period. The quoted portfolio has outperformed the NBI, but has not outperformed by more than the 0.5% hurdle required to give rise to a performance fee. The unquoted portfolio has returned 6.2% in the period, significantly outperforming the NBI, however the unquoted portfolio performance fee is based on net realised gains, taking into account any unrealised losses but not unrealised gains. As the gains in the period are unrealised, no performance fee is due on the unquoted portfolio.

Prospects

The Investment Manager has outperformed the market in varying conditions, in both rising and falling markets. Drug pricing and political concerns have prevented the sector from participating in the broader market rally which I believe gives investors an excellent opportunity to gain exposure to a sector with exciting growth prospects. It is clear that the larger names within the biotechnology sector are seeing their growth rates slow. The Investment Manager's strategy of tilting the Company away from these names and into the higher growth mid-sized companies continues. The Investment Manager believes that by investing in the next generation of businesses with newly launched drugs and innovative pipelines, we maximise potential for long-term growth and exposure to possible Merger & Acquisitions (M&A) candidates. I am optimistic that exposure to the sector through a fund managed by medical experts can identify such names and generate returns for our Shareholders.

[sharesoc] 27/3/2018 15:06

International Biotechnology Trust present at our upcoming growth company seminar on the 18th April which may be of interest to potential investors and current shareholders:

[davebowler] 03/1/2018 15:24

oops-
See the last part.

[the oak tree] 19/11/2017 22:25

Bought in here on Friday (along with BIOG) so keen on others views. Its had a good run though and little if any discount.

Its part of a balanced portfolio but feel its a merited position due to this sector perhaps going through what technology has done this last 20 years. Bio science will have its iPhone / google maps moment as some point in the next 10-20 years I reckon.

IMHO

[mad foetus] 15/11/2017 09:16

IBT won the best specialist investment trust at the Citywire awards this week. All positive publicity.

[mad foetus] 27/10/2017 10:36

I'm buying at this level for the long term. GLA.

[nimbo1] 01/9/2017 13:39

The pick up in biotech shares came at a good time because of next years dividend is linked to the end august 2017 NAV I believe. Also nice to see the price increase of course.

[nimbo1] 19/7/2017 09:58

vertex up sharply last night in US 25% + in aftermarket - is a 5% plus position in IBT Why I hold trusts like this : )

[rogerrail] 23/6/2017 12:33

near 10% jump in NAV from last week:

Date NAV Pence
------------- ------------ -------
Thursday 22 Jun Ex Income 681.27


Date NAV Pence
--------------- ------------ -------
Friday 16 Jun Ex Income 620.86