Questor is not complaining about the progress of the three healthcare trusts we have tipped, however. Shares in each have beaten the returns from the broader market for healthcare and biotechnology stocks over one, three, five and 10 years.
But neither is this column resting on its laurels, particularly in the case of International Biotechnology given that Carl Harald Janson, manager of the trust for more than seven years, has stepped down. Lead management of the trust has been handed to Ailsa Craig, who has worked alongside Mr Janson since 2013, and Marek Poszepczynski, who joined a year later.
Questor is reassured by Mr Janson’s successors’ long record of working alongside the manager. More stability is provided by Ms Bingham, who has been involved with the trust since the turn of the century and returned to run its small portfolio of unquoted investments in January after her time in charge of the Vaccine Taskforce.