Munder and Federated Rollout New Funds

Fund shops rolled out a couple of new funds in sectors that have stayed afloat this year.

Last week Munder Capital rolled out the broker-sold Munder Bio(Tech)2 fund and on Monday Federated Investors launched the broker-sold Federated Market Opportunity fund, an all-cap value fund. It's not much of a surprise that the funds focus on biotech stocks and value or seemingly undervalued stocks, respectively. In a year when most stocks and funds are far underwater, the American Stock Exchange Biotechnology Index is up more than 47% since Jan. 1 according to Baseline/Thomson Financial and the average value fund is also in the black, according to Morningstar.

The Munder fund will primarily invest in stocks of biotech companies, which are cutting-edge drug shops, and the tech firms that contribute to their research -- hence the numeral "2," for "twice the technology" according to the company's statement. A team of managers from Munder and its London-based affiliate Framlington will hold the reins. Antony Milford, manager of the biotech-heavy (MFHAX Quote)Munder Framlington Healthcare fund since its 1997 inception, will be on the team. That fund is up some 117% percent over the last 12 months and beats more than 80% of its peers over the last three years, according to Morningstar. ...