International Biotechnology Trust

What International Biotechnology Trust does

International Biotechnology Trust plc (LSE: IBT) is a closed-ended investment trust established in 1994, making it the longest-standing vehicle in the UK biotech and healthcare AIC sector. The trust provides investors with actively managed, diversified exposure to global biotechnology and life sciences equities, with a stated focus on companies with clinically de-risked assets and select unquoted opportunities. It is managed by Schroder Unit Trusts Limited, with portfolio managers Ailsa Craig and Marek Poszepczynski leading the strategy since 2021 and combining 30 years of specialist experience.

The trust's underlying technology is its portfolio construction and stock-selection process, which has reportedly produced a portfolio in which approximately 40 of 100 holdings meet acquisition criteria, versus roughly 10% of its benchmark. The business model is a typical UK investment trust: capital is raised via a London Stock Exchange listing (ticker IBT, also OTC: IBITF), assets are deployed across a global biotech portfolio, and returns are delivered to shareholders through capital appreciation and an annual dividend equal to 4% of net asset value. Management fees and the closed-ended structure (with tactical gearing capability) generate the manager's revenue.

The customer base is UK retail investors accessing the trust through ISA and SIPP tax wrappers on online stockbrokers and adviser platforms, distributed via Schroders' platform, Hargreaves Lansdown, Interactive Investor, and third-party research coverage (Citywire, Trustnet, Kepler Trust Intelligence). The trust has benefited materially from a 2025-2026 biotech M&A cycle that has included exits of portfolio companies to Novartis, Roche, Merck, AbbVie, Pfizer, GSK, and Vertex among others.

Name

International Biotechnology Trust

Legal name

International Biotechnology Trust plc

Website

https://ibtplc.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

International Biotechnology Trust plc is a UK-listed closed-ended investment trust, established in 1994, providing actively managed diversified exposure to global biotechnology equities for retail investors via ISA and SIPP wrappers, and managed by Schroders.

Ownership category

akta.pro rank

Product category

Biotechnology Investment Trust

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Fiduciary Investment Management (Trust Portfolios) (FSAEAKAI)

akta.pro secondary industry

Trust & Fiduciary Advisory for HNW/UHNW (Trust Structuring & Trustee Oversight) (FSAAABAF)

Keywords

• Biotechnology investment trust
• Closed-ended fund
• Life sciences equities
• ISA SIPP investing
• Actively managed trust

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Management Fees: IBT generates returns through capital appreciation of its portfolio of biotechnology companies. The trust charges management fees typical of investment trusts. Returns are distributed to shareholders via dividends (4% of NAV annually) and capital growth from portfolio company acquisitions and market appreciation.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

International Biotechnology Trust (IBT) is an actively managed, closed-ended investment trust that gives shareholders diversified exposure to global biotechnology and life sciences companies. The trust holds around 100 portfolio companies, focuses on clinically de-risked assets with selective unquoted exposure, and runs a dividend policy paying out the equivalent of 4% of net asset value annually in addition to capital growth. Managed by Schroder Unit Trusts Limited since 1994, it is the longest-standing trust in the UK biotech and healthcare AIC sector and is listed on the London Stock Exchange under ticker IBT.

Product overview

International Biotechnology Trust (IBT) is a single, actively managed closed-ended investment trust that provides diversified exposure to the global biotechnology and life sciences sector. The trust offers investors access to one of the most dynamic sectors in global markets through a specialist team with decades of experience. IBT distributes 4% of its net asset value annually as dividends and invests in companies with clinically de-risked assets. The trust was established in 1994, making it the longest-standing trust in the biotech and healthcare AIC sector, with portfolio managers Ailsa Craig and Marek Poszepczynski.

Differentiator

Problem solved

Functional benefit

Products and services

• International Biotechnology Trust plc (IBT) Actively managed closed-ended investment trust providing diversified exposure to global biotechnology and life sciences companies. Holds around 100 portfolio companies focused on clinically de-risked assets with selective unquoted opportunities, distributed to UK retail investors via London Stock Exchange listing and ISA/SIPP wrappers. Includes a dividend policy of 4% of NAV annually in addition to capital growth.

Quantifiable outcome

• NAV returns of 35.7% for the six months to February 2026
• +5 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• SchroderscoreImplementation/ SI/ Consulting PartnerSchroder Unit Trusts Limited acts as the authorised corporate director and manager of International Biotechnology Trust. Schroders provides investment management, administration, and distribution services for the trust, leveraging their 200+ year history and global investment platform.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BB Biotech AG: Swiss-listed closed-ended investment company focused on biotechnology equities. Directly comparable to IBT as a public, sector-specific biotech investment vehicle with similar investor base and management fee structure.
• Calamos Global Biotech Fund: US-focused mutual fund investing in global biotechnology equities. Comparable biotech specialist mandate and portfolio construction approach.
• HBM Healthcare Investments: Swiss-listed investment company focused on healthcare and biotechnology equities, including private companies. Comparable as a public, sector-specific investment vehicle with biotech-focused mandate.
• Biotech Growth Trust: UK-listed investment trust investing in global biotechnology equities, also in the AIC sector. Directly comparable product offering targeting UK retail investors with similar biotech-focused mandate.
• Polar Capital Biotechnology Fund: Open-ended mutual fund investing in global biotechnology equities. Comparable sector focus and biotech specialist approach, though structured as open-end rather than closed-end trust.
• Worldwide Healthcare Trust: UK investment trust focused on healthcare and biotechnology equities managed by Polar Capital. Comparable as a UK-listed, sector-focused trust with similar retail investor distribution model.

Emerging players

• ARK Genomic Revolution ETF: ETF focused on genomics and biotechnology innovation. Comparable biotech sector exposure with thematic growth orientation, though more concentrated on disruptive innovation.
• Eventide Healthcare & Life Sciences Fund: US mutual fund focused on healthcare and life sciences equities with values-oriented approach. Comparable sector specialization but with different thematic overlay.

Regional players

• Sphera Global Healthcare Fund: Israel-based fund manager's healthcare-focused fund. Comparable healthcare/biotech investment focus with similar stock-picking approach, though primarily serves different geographic markets.

Broad incumbents

• Franklin Biotechnology Discovery Fund: Large established asset manager's biotech-focused mutual fund. Comparable sector focus but part of broader Franklin Templeton portfolio with global institutional distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about International Biotechnology Trust