In plain terms — abrdn Life Sciences Investors
Shares currently cost about 3.5% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 9.2% discount, so today's level is unusually high for this fund (Z-score +3.1). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 14.4% a year of the share price (13.9% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.04 of assets — a ReinvestCapture™ rate of 14.9%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 9.4% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -7.39% | 2.53% | +1.59 | 55 |
| 6 months | -8.60% | 2.33% | +2.25 | 106 |
| 1 year | -9.21% | 1.90% | +3.07 | 207 |
| 3 years | -10.96% | — | — | — |
| 5 years | -10.14% | — | — | — |
Current contemporaneous premium/discount -3.36% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -13.34% to -2.40%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -13.70% | -13.96% | +2.15% | +5.74% | +11.74% | -3.73% |
| Market price total return | -13.70% | -11.48% | +12.12% | +19.52% | +26.63% | +7.61% |
| NAV return | -15.03% | -19.84% | -3.67% | -2.14% | +5.94% | -2.99% |
| NAV total return | -15.03% | -17.64% | +4.95% | +9.40% | +18.47% | +7.23% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Tekla Life Sciences Investors, a closed-ended equity mutual fund, is expertly managed by Tekla Capital Management LLC. This U.S.-domiciled fund, which commenced operations on February 20, 1992, and was formerly known as H&Q Life Sciences Investors, seeks investment opportunities in publicly traded companies worldwide. Its primary focus lies within the broad life sciences sector, encompassing a diverse range of industries such as biotechnology, pharmaceuticals, diagnostics, managed healthcare, medical equipment, hospitals, healthcare information technology and services, and medical devices and supplies. The fund also extends its investment purview to include the agriculture and environmental management sectors. It predominantly allocates capital to growth-oriented businesses, particularly those with small market capitalizations. Investment decisions are rooted in rigorous fundamental analysis, which assesses critical factors like a company's market position for its offerings, the acumen of its management team, its technological prowess, and its capability to either self-finance expansion or attract external funding to build its portfolio. The fund's performance is gauged against two key benchmarks: the NASDAQ Biotech Index and the S&P 500 Index.
CEF Explorer research page for abrdn Life Sciences Investors. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.