Are you interested in mutual fund investing in the healthcare sector? As part of it monthly Investing in Funds feature, the Wall Street Journal spoke with several mutual fund managers and analysts to discuss how the Obama administration's planned healthcare overhaul might affect mutual funds' investments in the healthcare industry.

As it turns out, fund managers have very different opinions about how -- or whether -- what's happening in Washington will influence Wall Street. Managers who weighed in for the WSJ article include: Charles Fernandez, president of Fairholme Capital Management; Jay Leopold, a manager of Legg Mason Capital Management All Cap; Eric Schoenstein, principal at Jensen Investment Management; and Eddie Yoon, who runs Fidelity Select Health Care and Fidelity Select Medical Equipment & Systems.

Morningstar analysts Christopher Davis and David Kathman both offer their thoughts, too. Kathman cited the Jensen Portfolio and the Vanguard Primecap, Dodge& Cox Stock as examples of successful funds with at least 20 percent of their assets in healthcare. And Davis said he favored funds that invest in multiple subsectors within the industry, including Hartford Global Health, T. Rowe Price Health Services, and Vanguard Health Care. Funds with direct health-insurance exposure are usually considered the subsector most vulnerable to reform in the industry. According to Morningstar, the larger of those funds are Legg Mason Capital Management Value Trust, BlackRock Large Cap Value, and Fidelity Low-Priced Stock 

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