What’s Driving Averill’s Triple-Digit Gains

Suvretta’s new health care fund has gotten off to a torrid start since its March launch.

(Samyukta Lakshmi/Bloomberg)

(Samyukta Lakshmi/Bloomberg)

Averill, the new biotech-focused long-short fund that began trading March 23 under the Suvretta Capital Management umbrella, has posted blowout gains, making hay in a red-hot sector.

The fund is up an astonishing 117 percent through the end of August, according to two investors.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.