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FE Trustnet Investment trusts

Factsheet

International Biotechnology Trust

71 Kingsway, London, United Kingdom, WC2B 6ST
44 20 7421 7077 (Fax Number)
44 20 7421 7070 (Main Number)
www.internationalbiotrust.com/pages/fact_sheets.html

*	David Pinniger»	06-May-1994 to Present
*	Kate Bingham»	06-May-1994 to Present

The investment objective of International Biotechnology Trust plc (the “Company”) is to achieve long-term capital growth by investing primarily in biotechnology and other life sciences companies that are either quoted or unquoted and possess the potential for high growth. The Company invests in companies whose shares are considered to have good prospects, with experienced management and strong potential upside through the development and/or commercialisation of a product, device or enabling technology

Fund vs sector
	1y	3y
Position	4 / 4	2 / 3
Quartile	4	2

FE
Crown Rating
(Quantitative)

Ratios
	1y	3y
Volatility	14.24	12.83
Alpha	-2.82	1.98
Beta	0.96	0.86
Sharpe	2.20	1.36
InfoRatio	-0.64	-0.14
R²	0.78	0.60
Quartiles: 1 2 3 4 vs. Biotechnology & Healthcare»

FE Risk Scores
Instrument	1y(%) Growth	FE Risk Score
International Biotechnology Trust	41.7	92
Biotechnology & Healthcare	51.5	79
Cash	n/a	0
Compare this fund to its peers using FE Risk Scores>>
Learn more about using FE Risk Scores>>

	1y	3y	5y	12m-24m	24m-36m	36m-48m	48m-60m
INTL BIOTECHNOLOGY TRUST	+41.7	+83.7	+120.5	+17.6	+10.2	+26.0	-4.7
NAV	+39.5	+75.5	+117.7	+16.4	+8.1	+21.2	+2.3
Biotechnology & Healthcare	+51.5	+92.6	+174.8	+13.0	+12.6	+32.2	+7.9

Share Price
	Share	Type	Price	Date	Prem/Disc	Diluted NAV		Gearing	Div yield
	Share	Type	Price	Date	Prem/Disc	Estim	Last pub.	Gearing	Net	Gross
	INTERNATIONAL BIOTECHNOLOGY TRUST	UNIT	256.25 (p)	21-May-2013	-12.71	292.98	295.79 20-May-2013	100	n/a	n/a

Capital structure & income
Share	Type	Exchange	Nominal value	Issued	Market value (m)	Wind-up date	Splits	News
INTERNATIONAL BIOTECHNOLOGY TRUST	UNIT	LONDON	25	55,158,000	141.07	n/a	n/a
Share identifiers: TIDM: IBT; SEDOL: 0455934; ISIN: GB0004559349

Detailed fund information
Fund type	United Kingdom-registered Investment Trusts
Launched	1994
Gross assets	£161.6m / $245.9m
Sector	Biotechnology & Healthcare
Asset Class	Equity
Own ISA wrapper
Savings plan
Annual accounts	n/a
Last report / accounts	12-Apr-2013
Last AGM	07-Dec-2011
Next AGM	December 2012
EGM	01-Jul-2008
Stockbroker(s)	Cenkos Securities Limited
Management contract	The Manager is entitled to a management fee payable monthly at 1.15% p.a. on assets up to GBP 100m, 1.25% p.a.above GBP 100m. The fee on the quoted pool is 10% of relative outperformance above the pound sterling adjusted NASDAQ Biotech Index (£NBI) plus a 0.5% hurdle (replacing a fee of 10% of absolute returns above a 7% hurdle). No performance fee will be paid if the NAV at the end of the financial year is less than at the start. Maximum performance fee payable in any year of 3%, with any surplus held over and adjusted up or down according to the performance of the share price over the period between the end of the period in which it is erned and the period in which it becomes payable. No incentive fee is paid. The Management Agreement is terminable by either party on 12 month’s notice. BNP Paribas Secretarial Services Ltd is paid remuneration of £60,099 plus a fee for payroll services.
Borrowing limit	n/a
Continuation / Wind-up provision	A continuation resolution will be put forward at the next AGM to be held in December 2013 and every two years thereafter. For any such resolution to be passed, it requires a vote in favour by 75% of shareholders in writing, or at a general meeting, a vote in favour by the holders of at least one-third of the nominal value of the issued shares. The Company is authorised to allot up to 5% of the issued share capital and make market purchases of up to 14.99% of the issued share capital of the Company. Both authorities were renewed at the last EGM.
Dividend policy	n/a
Investment restrictions	n/a
Reconstruction proposal	n/a
Settlement details	n/a
Tax policy	n/a

Peer groups
Region	Asset Class	Investment Focus	Sector
Global	Equity	Biotech	Biotechnology & Healthcare

Largest holdings, 31-Mar-2013
Holding	(%)	Rank	Prev	Holding	(%)	Rank	Prev
AMGEN INC	8.30	1	(2)	CELLDEX THERAPEUTICS INC	3.20	6	(6)
CELGENE CORP	7.40	2	(1)	INSULET CORPORATION	3.20	7	(8)
GILEAD INC	6.30	3	(3)	ALEXION	3.10	8	(7)
ONYX PHARMACEUTICALS	5.20	4	(4)	ACTELION	2.60	9	(-)
APTIV	3.80	5	(5)	BIOMARIN PHARMACEUTICAL	2.50	10	(10)
				Total	45.60

more history»

Regional weightings, 31-Mar-2013
Region	(%)	Rank	Prev
USA / Canada	88.00	1	(1)
Europe	10.00	2	(2)
Australia	1.00	3	(3)
Cash	1.00	4	(4)
Total	100.00

more history»

Sector weightings, 31-Mar-2013
Sector	(%)	Rank	Prev
Therapeutics	73.00	1	(1)
Life Sciences Tools, Diagnostics & Services	12.00	2	(2)
Medical Devices	7.00	3	(3)
Specialty Pharma	7.00	4	(4)
Money Market	1.00	5	(5)
Total	100.00

more history»

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated using closing mid prices and with net income (dividends) reinvested. NAV total return performance figures are calculated using fully diluted (where applicable) daily estimated NAV figures from Thomson Financial Datastream and with gross income (dividends) reinvested.