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Zug boutique brings biotech fund under Luxembourg umbrella

Zug boutique brings biotech fund under Luxembourg umbrella

A Zug-based healthcare investment boutique has changed the jurisdiction of one of its flagship funds, Citywire Switzerland can reveal.

The HBM Global Biotechnology fund has had its domicile switched from Liechtenstein to Luxembourg.

According to a spokesperson the strategy will now be part of the firm's Luxembourg umbrella, HBM UCITS (LUX) FUNDS.

By changing jurisdiction the fund will gain better access to European clients. The investment strategy of the fund, managed by Ivo Staijen, will remain unchanged. 

The firm originally started the fund in Liechtenstein when it was still relatively small and it was easier to set up a new structure there.

However, as the assets grew the management decided to move the fund to Luxembourg to reach a wider client base, not least because institutional investors prefer this jurisdiction.   

The fund also changed its management company from IFM Independent Fund Management to Pictet.

Speaking to Citywire Switzerland in February, Staijen said he focuses on immuno-oncology, investing in names such as Celgene and Incyte.

HBM Global Biotechnology fund returned 39.64% in Swiss franc terms over the last three years. Its benchmark, NASDAQ Biotechnology, returned 31.90% over the same timeframe.

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