Bellevue Group AG / Bellevue Group AG: BB Biotech growth strategy implemented in spirit of partnership . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
· Bellevue Group is supporting BB Biotech growth objectives for targeted investments in the partnership-based cooperation between BB Biotech and Bellevue Asset Management.
· Bellevue Group welcomes the revision of the management fee for BB Biotech which forms the basis for consistent implementation of the growth strategy.
· The adjustments are expected to have a positive effect on the results of Bellevue Group in fiscal year 2014.
The Board of Directors of BB Biotech has decided to revise the management fee as of 1 January 2014 as follows. It will remove the fee cap for the calculation of the management fee, which had been set at a market capitalization of CHF 1 billion while at the same time, reducing the management fee from 1.2% to 1.1% p.a. (see also today's media release from BB Biotech).
The removal of the fee cap enables Bellevue Asset Management, which has managed BB Biotech successfully since its inception, to enhance its investment activity aimed at the sustainable growth of BB Biotech. This step will strengthen existing expertise in research and portfolio management. Further investments are also planned to broaden the present shareholder structure both at home and abroad.
Bellevue Group CEO Urs Baumann: "These measures enable Bellevue Asset Management to safeguard the interests of all the stakeholders more effectively in its role as portfolio manager. The improvements which have been made reflect the partnership-based cooperation between BB Biotech and our Group. The adjustments are expected to have a positive effect on the results of Bellevue Group in fiscal year 2014."
Contact:
Media / Investor Relations: Daniel Koller, CFO
Telephone +41 44 267 67 00, Fax +41 44 267 67 01, ir@bellevue.ch
Bellevue Group
Bellevue Group is an independent Swiss financial boutique listed on the SIX Swiss Exchange. Established in 1993, the company and its approximately 80 employees are specialists in the fields of Brokerage, Corporate Finance and Asset Management. Bellevue Group includes the two subsidiaries Bank am Bellevue and Bellevue Asset Management. The bank boasts superb knowledge of the Swiss stock and bond market and offers independent research recommendations as well as viable solutions for capital market transactions. Bellevue Asset Management is focused on selected active equity investment strategies in growing markets, in healthcare industries as well as in other special themes such as entrepreneur-led companies.
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Bellevue Group AG via Thomson Reuters ONE
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Bellevue Group AG
Seestrasse 16; Postfach Küsnacht/Zürich Switzerland
WKN: A0LG3Z;ISIN: CH0028422100;
