Sectoral Asset Management Inc. (Montreal, Quebec)

Name: Sectoral Asset Management Inc.
Address: 1010 Sherbrooke Street, West, Montreal, Quebec, H3 A 2 R7
Telephone: 514-849-8777

Sectoral Asset Management Inc. is a large advisory firm based in Montreal, Quebec. It manages $930.46 million of regulatory assets for 9 client accounts. It has been registered with the SEC as an adviser since 2001.

Sectoral Asset Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Sectoral Asset Management: assets under management

The assets under management (AUM) of Sectoral Asset Management Inc. is $930.46 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -38% since the beginning of its operation, and $930.46 million of the total AUM is attributable to clients outside of the United States.

The firm manages $930.46 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $103.38 million each.

Sectoral Asset Management has custody of $73.07 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 99% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 1% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sectoral Asset Management Inc. for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Vihang Errunza serves?

The only and largest group of clients of Vihang Errunza is pooled investment vehicles with 5 clients and $668.79 million of assets under management. Among the 7 most similar advisory firms, Sectoral Asset Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $668.79 million for 5 clients. 100% of the firm’s clients are foreign persons or businesses.

Sectoral Asset Management also advises several private funds. Namely, three private equity funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $5,000,000.

Careers at Sectoral Asset Management Inc.

The company employs 27 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Vihang Errunza has been acting as President since 1 Feb 2001. Michael Lars Sjostrom has served as the Chief Investment Officer since 1 Aug 2000 and Jerome Georges Pfund is the Chief Executive Officer of Sectoral Asset Management Inc. family office. Stephan Patten joined the executive team most recently as the Chief Investment Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Michael Lars Sjostrom	Chief investment officer	1 Aug 2000	25% - 50%	4361750
Jerome Georges Pfund	Chief executive officer	1 Aug 2000	50% - 75%	2932005
Vihang Errunza	Director	1 Feb 2001	Other	5519161
Frederick Frank	Director	1 Oct 2002	Other	212754
Laurent Chaix	Director	1 Mar 2005	Other	5519159
Inc. State Street Global Alliance Canada	Shareholder	1 Sep 2007	25% - 50%	684361-1
Jared Alvah Chase	Director	1 Sep 2007	Other	2356434
Joseph Michael Lyons	Director	1 Sep 2007	Other	2652315
Sectoral Asset Management Inc.	Shareholder of sectoral asset management partners limited	1 Oct 2007	75% - 100%	foreign
Jerome Georges Pfund	Director of sectoral asset management partners limited	1 Oct 2007	Other	2932005
Stephen Hathaway Marshall	Director	1 Nov 2008	Other	2723358
Vincent Duhamel	Director	1 Jan 2009	Other	4425845
Jean Berard	Chief financial officer; chief compliance officer	1 Jan 2010	Other	5156780
Jerome Georges Pfund	Chief executive officer	1 Jan 2011	25% - 50%	2932005
Elizabeth Lazaro	Chief financial officer and chief compliance officer	1 Jul 2011	Other	6045797
Winnie Pao	Director	1 Jan 2012	Other	6045795
Brett Peter Goodin	Director	1 Aug 2012	Other	4386432
Marilina Mastronardi	Director	1 Oct 2012	Other	6178043
Jill Iacono Mavro	Director	1 Jun 2014	Other	3069183
Robert Dempsey	Director	1 Oct 2014	Other	6418639
Sectoral Asset Management Holding Ltd.	Shareholder	1 Dec 2015	75% - 100%	foreign
Stephan Patten	Chief investment officer	1 Apr 2018	Other	6928457
Marc Andre Marcotte	Chief compliance officer and chief operating officer	1 Apr 2018	Other	6928464

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
State Street Corporation	Shareholder	1 Jun 1990	75% - 100%	04-2456637
Llc State Street Global Alliance	Shareholder	1 Jul 2000	75% - 100%	52-2289770
Inc. Limetree Investment	Member	1 Jul 2000	25% - 50%	134147037
Abp	Shareholder	1 Jul 2000	75% - 100%	046288081
Inc. State Street Gl0bal Advisors	Member	1 Jul 2000	25% - 50%	061313175
Inc. Global Alliance International Holdings	Shareholder	1 Sep 2007	75% - 100%	26-1076374
Jerome Georges Pfund	Shareholder	1 Dec 2015	25% - 50%	2932005
Michael Lars Sjostrom	Shareholder	1 Dec 2015	25% - 50%	4361750

Based in Montreal, Quebec

The principal office where Sectoral Asset Management Inc. performs its advisory services is located at 1010 Sherbrooke Street, West, Montreal, Quebec, H3 A 2 R7, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 514-849-8777 or by fax 514-849-6777. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at sectoral.com/.