Hearts and Minds Investments' (ASX:HM1) portfolio declined 8.9% in March, bigger than the MSCI World Index's 5.2% drop in the same month, according to a Friday filing with the Australian bourse.
The decline occurred as equity markets faced volatility during the month amid uncertainties about US trade policies, the filing said.
The investment company also saw the unsuccessful outcome of Opthea's (ASX:OPT) phase 3 clinical trials for its lead drug candidate, OPT-302. This prompted Hearts & Minds to write down its investment to zero.
Before its trading suspension, Opthea represented around 2.4% of Hearts and Minds Investments' portfolio, per a Tuesday statement.
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