Title: Trust Issues - investing in biotech with IBT managers Ailsa Craig & Marek Poszepczynski

In this episode of Trust Issues, we speak to Ailsa Craig & Marek Poszepczynski, managers of International Biotechnology Trust, about the opportunity for investors in the biotech sector, from the implications of a Trump victory to the current state of play on obesity drugs.

00:00 Introduction

00:19 Overview of IBT and current allocations

02:24 Change in composition of XBI

03:25 Benefits of a basket approach

05:06 Most exciting developments in the biotech sector

07:25 Can other companies compete with Eli Lilly and Novo Nordisk on obesity drugs?

08:49 Recent allocation changes due to the market cycle

12:26 Views on current valuations

15:12 Outlook for M&A

17:09 Outlook for IPO market in 2025

18:13 What IBT offers beyond a passive strategy

19:45 Implications of a Trump administration

21:26 Impact of rate cuts on the portfolio and wider sentiment

22:16 Further information

22:43 Risk warning

Our latest note on IBT - https://www.trustintelligence.co.uk/investor/articles?fund_id=2

IBT website - https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/international-biotechnology-trust/