A Boston-based asset management firm specializing in health care investing said today it has closed a biotechnology fund to new investors.
Portfolio manager Kurt von Emster said the firm is closing the fund to new investors to ensure it doesnt become too unwieldy. "We want to make sure that in an industry where theres only $400 billion in market capitalization were not taking too much of that," he said. "Weve limited ourselves to a half billion. This is a size that feels comfortable and we want to maintain that size"
Von Emster said in an interview this morning that, until November of 2001, he managed a biotech fund at
The firm, with additional offices in San Francisco and Munich, Germany, oversees more than $1.2 billion in assets. Its BioEquities Fund invests primarily in publicly traded biotech stocks and is supported by a team of five analysts and 18 executives who work in the biotech industry, the company said.