Oct
07
These Are the Big Funds That Were Slammed by the Biotech Rout
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Diversified funds heavy in biotech down 3.8% since rout began
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Fidelity, JPMorgan funds show recent losses on paper
It’s not just biotechnology specialists who have been hit by the slide in drug stocks.
Of funds that invest across the stock market, the 20 that had the most exposure to biotech companies suffered suffered a paper loss of more than $5 billion since Sept. 18, according to data compiled by Bloomberg and Morningstar Inc. Three days later, a tweet from Democratic presidential candidate Hillary Clinton helped start what has become a 14 percent slide in the Nasdaq Biotechnology Index…
These Are the Big Funds That Were Slammed by the Biotech Rout
