Apprehension concerning Fed's approach to interest rate cuts in '24 triggered a downturn for biotech sector in March. BB Biotech's investment level is close to upper limit (114%, limit: 115%), reflecting the management team's optimistic outlook for the biotech sector. A devaluation of the Swiss Franc against major currencies like the USD provided a significant boost to BB Biotech's portfolio in Q1/24. Share can be bought at 3% discount to NAV.

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