Baillie Gifford U.S. Growth Trust spent much of its half-yearly report talking about the prospects for Modern Biotechnology and the SpaceX rocket launcher, two of its investments that helped raise its net worth over the time period.
The US fund,
a component of the FTSE 250 MCX,
reported that its six-month net asset value through Nov. 30 rose 54 percent, bringing its total assets to £ 810.3 million, excluding loans it made.
The fund said that in 2021 it seemed “the light at the end of the tunnel” as it highlighted its investment in Moderna, which it has maintained since the initial 2018 public offering. MRNA de Moderna,
The COVID-19 vaccine is its first commercial product.
“Success with one drug doesn’t tell you anything about the likelihood of success with the next. But we may be entering a new era for drug development. One of the real platforms, where success generates success. A cohort of biotechnology companies based on core technologies is emerging that can be reused in multiple diseases and disease categories. We believe that Moderna could be one of these companies, “said the background on Moderna, which manufactures drugs based on mRNA, the molecule intermediate between DNA and proteins. from wall drugs to something more like industrial manufacturing “.
The fund has invested 12% in unlisted companies like SpaceX, the rocket and spacecraft maker founded by Tesla chief executive Elon Musk. “SpaceX has been innovating at an impressive pace. 2020 was the year America sent astronauts back to the space station. SpaceX’s manned mission was the first for a private company. Starlink, SpaceX’s high-speed satellite-based broadband service, is in beta, with more than 900 satellites orbiting the earth providing internet to users. And in Texas, SpaceX has rapidly developed its Starship rocket, the vehicle it expects to take people to the moon and then to Mars, ”the fund said.
He also had good words for Tesla TSLA,
The electric car company listed on Musk’s stock exchange and the fund’s main stake, which accounts for 9.5% of the fund. “In its recent battery day, Tesla charted a path to halve battery costs. The way we produce, store and consume energy is changing rapidly. For the better. The end of carbon is it is coming, ”said the background.
The widest FTSE 100 UKX,
it was a lower fraction, with limited trading as US stock markets are closed for the Martin Luther King Jr. vacation.
Animal genetics group Genus GNS,
increased, after saying that its performance in the second fiscal half ending June 30 will be ahead of previous expectations. Its pig genetics unit in China and bovine genetics units in Brazil, Russia, India and China have experienced strong growth, the company said.