Source's biotech ETF almost doubles assets post-US Election

Boosted by Trump's win

Tom Eckett
clock • 1 min read

Source's biotech ETF almost doubled in size the day after Donald Trump won the 2016 US Presidential Election, as the news boosted demand for the sector.

The Source NASDAQ Biotech UCITS ETF saw inflows of $170m on the day after the election result was announced, taking total assets under management (AUM) to $370m. Source joins forces with RBIS for launch of US ETF Chris Mellor, executive director of equities product management at Source, said: "Biotech stocks declined 22% between the start of 2016 and the US Presidential Election, with investors anticipating hostile legislation from another President Clinton. "Instead, a full Republican sweep sent stock prices soaring - our Source NASDAQ Biotech UCITS ETF returned 9% on 9 November. ...

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