Ha! Funny!

Earlier this year I had some money (pounds) in a GBP-denominated, Irish-domiciled biotech ETF – BTEK iShares IV PLC NASDAQ US Biotech UCITS USD(GBP) Acc.

It did OK, but I pulled it out to dabble in the GBP-denominated US bond funds. However I’ve been thinking about going back in – it’s started to show encouraging price movement over the past fortnight or so.

Looking at BTEK and BIOG, 25% of each fund is made up of these four -

Amgen Inc
Gilead Sciences Inc
Vertex Pharmaceuticals Inc
Alexion Pharmaceuticals Inc

Which, I guess, just goes to show how small the investable universe actually is, once you start focussing on specific sectors.

And out of idle curiosity, I wonder how you go about working out the discount/premium to NAV for an ETF – or if that’s even possible