Biotech funds spring like mushrooms in Singapore

Singapore is capturing the attention of biotech fund managers who are competing for the island-state''s investors.
Singapore investors seeking to gamble on biotechnology stocks are suddenly spoilt for choice of investment vehicles.

Just two months ago there were no dedicated biotech funds in Singapore. Now there are three. First cameĀ Franklin Templeton Investments andĀ Dresdner Asset Management. This week UBS Asset Management joined the fray with its UBS SG Investment Fund-Biotech. Others, such as Polaris Asset Management are also gearing up to launch Asian biotechnology funds.

The biotechnology sector will continue to develop as more and more companies generate revenue and obtain profitability, says Michael Winter, head of UBS Investment Funds Asia.

UBS's Singapore fund will feed into its $1.7 billion UBS Lux Equity Fund-biotech, which was...

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