State Street Global Alliance has acquired a minority interest in Montreal-based Sectoral Asset Management for an undisclosed amount.

Sectoral specializes in managing global equity portfolios in the worldwide healthcare and pharmaceutical/biotechnology sectors. In addition to separately managed institutional accounts, Sectoral manages healthcare mutual funds on behalf of U.S. and global clients.

“We are excited to be joining State Street Global Alliance,” says Jerome Pfund, Sectoral’s chief executive officer. “This milestone is significant for our company and with Global Alliance as a partner the stage is set for further development—in particular—in the North American institutional market.”

Sectoral Asset Management was founded in 2000 and is a registered investment advisor in Canada and the United States.

State Street Global Alliance is the strategic venturing partnership jointly owned by State Street Global Advisors and Stichting Pensioenfonds ABP, the pension fund for employers and employees in service of the Dutch government and the educational sector.

To comment on this story, email craig.sebastiano@rci.rogers.com.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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