Money Is Moving Back Into Surging Biotech FundsFrom The Barron's ...
Money Is Moving Back Into Surging Biotech Funds Dec. 6, 2019 10:22 am ET
Biotech is having a late-year boom, and investors in biotech funds are starting to catch on. In the latest installation of his weekly note tracking biotech fund flows, PiperJaffray analyst Christopher Raymond reported that flows in the sample of 118 health-care/biotech-dedicated funds tracked by Lipper/AMG Data Services were positive for the week ending on Wednesday.
Raymond wrote that the funds saw around $122 million of inflows during the week, the second week in a row flows to the funds have been positive. That follows a long, dismal stretch. A month ago, per Raymond’s reports, the funds were in the midst of a run of 12 weeks in which 11 saw outflows. Year to date, the funds have still seen $8.3 billion in outflows. But as performance of the biotech sector has improved, the drain seems to be reversing. After trailing the S&P 500 much of the year, the ...