Swiss create first investment fund for biomed stocks
The first investment management company to focus on a combination of worldwide investments in the rapidly growing bio- and medical- technology sectors has been created in Basel.
Adamant Biomedical Investments was formed by Swiss Life Asset Management - a wholly owned subsidiary of the Swiss Life insurance company - with three former partners of the Bellevue banking group.
A statement on Friday said that Swiss Life Asset Management would own 51 per cent of the new company and that a future listing on the stock exchange would be considered.
It added that the joint venture was another important step in Swiss Life Asset Management's strategy of providing investors with a range of traditional asset management services and access to innovative investment sectors that showed substantial prospects for future growth.
The company founders say they expect Adamant to develop rapidly as one of the leading European providers in the biomed sector.
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