In the first half of 2023, growth shares – and as such, also the biotechnology sector – came under pressure as investors were pivoting towards value shares. But the signs are changing. The possible high in interest rates in Europe and the USA could boost biotech shares again, as ERSTE STOCK BIOTEC fund manager Harald Kober explains in an interview.
The pharmaceutical companies and universities racing to develop a corona vaccine are making strides: according to the World Health Organisation (WHO), 25 candidates are currently undergoing clinical trials.
Biotechnology shares have been among the top performers in the past ten years. After the above-average performance from 2010 to the beginning of 2015, hedge funds set off a consolidation that is now coming to an end. The NASDAQ biotechnology index, the most important barometer for biotech shares, has gained 25% in the year to date (source: Reuters Datastream, as of 31 August 2017).
