Sectoral Asset Management, headquartered in Montreal, has set its sights on entering the U.S. mutual fund market--through a sub-advisory side door.

Sectoral has no plans to start its own U.S.-based mutual fund from scratch or launch its own proprietary fund complex with a separate fund catering to every asset class. Instead Sectoral, which officially opened its doors just 13 months ago, is hoping to parlay its expertise in managing worldwide healthcare and biotech stocks into a subadvisory relationship with a U.S. fund management company or two.

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