Janus and Legg Mason are among the latest of a growing list of companies that run sector funds- those that invest in a particular market sector.

Janus's new funds are the Janus Global Life Sciences Fund and the Janus Global Technology Fund. It is selling the funds during the initial offering period through Janus Distributors and Charles Schwab.

The global technology fund will invest at least 65 percent of its assets in technology companies, and the global life sciences fund will invest at least 65 percent in life sciences, including healthcare, pharmaceuticals, agriculture, personal care and biotechnology.

Despite these additions, Janus has no plans to create more sector funds, Janus officials said. The two funds were opened to provide investors with long-term growth in these two areas, the officials said.

"This isn't going to be a training ground for portfolio managers," a Janus spokesperson said.

Meanwhile, Legg Mason, which owns the Bartlett Funds family, in November, introduced the Bartlett Financial Services Fund, which invests in regional banks, brokerages, insurance and other financial services companies.

Legg Mason plans to offer more sector funds in the future under the Bartlett name, according to company officials. The company thinks of such offerings as funds that take advantage of the special talents of its managers, says Andrew Stilton, executive vice president of asset management at Legg Mason. Stilton says the financial services fund was established because the company identified a particular strength at one of its money management arms, Gray, Seifert & Co. The fund will be managed by Miles Seifert, chairman of Gray, Seifert and Amy LaGuardia, director of research there. The pair are experts in mid-cap financial service stocks, Stilton says.

Legg Mason money management subsidiaries include Western Asset Management Co., Batterymarch Financial Management, Legg Mason Fund Adviser, Bartlett & Co., Brandywine Asset Management, Legg Mason Capital Management and Gray, Seifert.

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