AXA Framlington Biotech - manager change
By ANTON FRENCH 01/04/2008
On the 14th of March 2008, AXA Framlington announced that Andy Smith would be joining the group and resuming responsibility for management of the Biotech fund from Dr Deane Donnigan on the 1st of April 2008. Smith joins AXA Framlington from venture capitalist SV Life Sciences, where he managed the International Biotechnology Trust, a global biotechnology investment trust. Prior to this, Smith managed the Bioscience Investment Trust for five years, initially at 3i and then at Schroders when the trust transferred management house in 2004. Dr Deane Donnigan will remain with AXA Framlington and has managed the 3 star rated Health fund since April 2005.
Recommendation
This fund is not currently rated by Bestinvest due to the manager not qualifying for a rating and we are awaiting detailed career history before recommending a switch out of this fund, but for those investors who prefer not to wait we would recommend the Franklin Templeton Biotechnology fund.
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Source: Financial Express