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Wednesday, July 17, 2002

Quaker Farms Out

by: Tony Pennino

Valley Forge, Pennsylvania-headquartered Quaker Funds has named Sectoral Asset Management to sub-advise its new Quaker Biotech Pharma-Healthcare Fund, Jerome Pfund, ceo for the latter, told the MutualFundWire.com. This is Quaker's first fund in this investment sector.

The contract with Quaker Funds is the first U.S. alliance for the sub-advisor. It currently has clients in Europe, Japan, and China.

"We are a very young company," Pfund reported, "founded in 2000. Our two original partners are from Europe. But we are now beginning to focus on our sub-advisory business in this country."

"We will continue to look for clients in the United States. We want to try to find different clients with products in different sectors and different distribution channels," he continued.

For the Quaker fund, Sectoral will be providing portfolio management and marketing support.

"The Quaker people came to us with a totally different philosophy. They came with an open mind. They asked us what kind of fund we want to manage, what sector that fund would be in. We could create some of the parameters and definitions of the fund," the executive contended.

The fund will have holdings in 15 to 25 companies.  

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