SSO is a dreadful ETF. It's been listed for over 10 years and has failed to gain traction. That isn't due to it being overlooked as a gem. For StateStreet not to wind it up is an insult. Less than $30 FUM and high MER.
Interesting flow on of possible impacts indicating a decoupling of relying on defense from usual supplier to European defense. I cannot find the link so it's anecdotal only but while the paper allows suppliers outside of the EU to participate, which would indicate the UK, the usual source was...
I'm being pedantic here @Garpal Gumnut but it can hold unlisted companies. It did, and maybe still does, hold Marketplacer but it wasn't a large holding - around $1m or so. The management is not adverse to incubator activities where it considers it warranted.
I am no expert but the initial cost is high for new drugs as the company recovers R&D costs. One the patent expires, generics tend to fill the space. Could be wrong but I that's how it generally works...
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