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has filed paperwork for a new broker-sold biotech fund that looks a lot like one it already offers,


Munder Framlington Healthcare.

That fund is one of this year's top performers, up 89.5% since Jan. 1, closely tracking the

American Stock Exchange Biotech

index, up 88.9% over the same period.

Like the Framlington Healthcare fund, the proposed

Munder HealthTech

fund would be sub-advised by London-based

Framlington Overseas Investment Management

and would focus primarily on biotech and other cutting edge health care companies worldwide. Neither fund has limitations on the size, type or location of healthcare companies it buys.

The new fund could be designed as a back-up if the current health care fund's hot performance draws enough cash to force it to close to new investors. Just before Munder closed $10.2 billion

(MNNAX) - Get Victory Munder Multi-Cap A Report

Munder NetNet fund, the nation's largest Internet fund, it rolled out


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Munder Future Technology, followed quickly by


Munder International NetNet.

On March 31, Framlington Healthcare had $174 million in assets, much less than the average health care fund's $574 million. But the fund's small-cap focus could make it tough to move nimbly among thinly-traded small-caps if investors fall in love with its returns. The fund's 9% cash position on March 31 might indicate steep in-flows.

Like Framlington Healthcare, HealthTech won't come cheap. The fund's class A shares will carry a maximum 5.5% front-end sales charge. Class B and class II shares will levy maximum 5% and 1% back-end charges.

The fund's annual expenses are estimated to be 2% on class A shares and 2.75% on class B and class II shares. That's far north of the average health care fund's 1.61% average.

Oppenheimer Quest Value Gets New Skipper

The reins have changed hands on the struggling, broker-sold


Oppenheimer Quest Value fund.

This month John Lindenthal of sub-adviser

OpCap Advisers

replaced Philip Rodilosso as the fund's manager, according to a regulatory filing Wednesday. Rodilosso had only run the fund since last August. But no matter who's been in charge, the fund has lagged behind its large-cap value peers.

The fund has trailed the majority of its peers over the past one-, three- and five-year periods, according to


. Its 13% five-year annualized return trails the

S&P 500

by 10.8 percentage points and 76% of large-cap value funds.

Lindenthal has a solid track record.


Preferred Value, a

no-load fund he's run since 1992, has beaten its average large-cap value peer over the past one-, three- and five-year periods, according to Morningstar.

See Tuesday's

Fund Openings, Closings, Manager Moves.

See Monday's

Fund Openings, Closings, Manager Moves.