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Biotechnology

Source launches Europe’s first biotech ETF

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Source has launched the Source NASDAQ Biotech UCITS ETF, the first Europe-listed ETF to track the NASDAQ Biotechnology Index.

The biotechnology sector has seen remarkable growth from a handful of companies in the 1980s to a market capitalisation of over USD950 billion today. The NASDAQ Biotechnology Index reflects the performance of over 100 biotechnology and pharmaceuticals companies listed on the NASDAQ Stock Market. Constituents range from global giants with diverse portfolios to smaller companies focused on a single treatment. The Source NASDAQ Biotech UCITS ETF aims to deliver the total return of this Index.
 
“Since the NASDAQ Biotechnology Index launched in 1993, it has evolved into a key industry benchmark for tracking the growth and performance of this increasingly important sector,” says Rob Hughes, head of index and advisor solutions at NASDAQ. “NASDAQ has been home to some of the world’s most innovative companies in the biotech sector and we are proud of our history and partnerships in this space.  We are excited to team with another innovator, Source.”
 
“Source is launching this product in direct response to investor demand,” adds Source CEO Ted Hood. “While there are some large, actively managed biotech funds available to Europe investors, passive options are limited.  There are several ETFs, including our own, tracking the US Health Care sector, but we see many investors looking for more focused biotech exposure.”
 
The Source NASDAQ Biotech UCITS ETF is denominated in USD and trades on the London Stock Exchange. It is also registered for sale in Austria, Finland, France, Germany, Ireland, Italy (for institutional investors only), Luxembourg, the Netherlands, Norway (for institutional investors only) and Sweden, and is also available for sale in Switzerland (for institutional investors only).  

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