Biotech and healthcare look set to deliver eternal wealth, if not health
The recent underperformance of the biotechnology and healthcare sectors has created opportunities for managers
The recent sell-off in the listed biotech sector, following a strong 2003, has highlighted attractive buying opportunities for specialist hedge funds, according to managers in the niche strategy.
In the last 11 months of 2003, the MSCI World index outperformed the Dow Jones STOXX 600 Pharmaceuticals Biotechnology IG Price Index by 4.92%. However, the pharmaceutical and biotechnology index still posted healthy returns of 12.91%, according to Bloomberg, against MSCI World's 15.33%.
The rude health
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