Sectoral Asset Management of Montreal has inked its first deal to sub-advise a biotechnology and healthcare fund in the U.S. The institutional money management firm will sub-advise the newly launched Quaker Biotech Pharma-Healthcare Fund, one of the Quaker Funds of Valley Forge, Pa.

The Quaker deal is a big win for Sectoral, which this past fall began trawling for sub-advisory partners in the U.S. The Canadian-based firm, which has raised $1 billion in its two years of existence, has carved out a niche for itself managing worldwide healthcare and biotech stocks, but had no presence in the United States until now.

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