Biotech Growth (ticker: BIOG) was launched in 1997. After a promising start, its performance tailed off and this led to the appointment of OrbiMed, the manager of Worldwide Healthcare Trust, as its new investment adviser in 2005. Over the following decade, Biotech Growth steadily outperformed its new benchmark, the Nasdaq Biotechnology Index, but then its shares hit another soft patch and moved sideways for a few years. In late 2019, the trust shifted its portfolio more towards smaller biotech companies and its shares doubled in just over a year, propelled higher by the COVID pandemic. However...