freeus,
I'm not a big fan of sector biotech funds for long-term holding purposes. One of the problems is that, according to a study by Morningstar a couple of years ago, the best-performing sector funds one year almost invariably end up being dogs thereafter. I could cite lots of examples: remember Russian funds? REIT funds?
My approach to such a fund, if I were to buy one, would be to buy one I could trade, and I would watch it just as I would any other stock. In the past, I have owned the Hambrecht & Quist biotech fund ( I think the symbol is HQH, or maybe HNQ, can't remember). There are also specific sector vehicles such as HOLDRs you may want to investigate, and SPYDER sector securities, and so forth.
I think Morningstar does an excellent job of evaluating mutual funds, and if I were going to buy one, I would certainly consult them. They are free (mostly), and have no axe to grind since they are not affiliated in any way with any investment house of mutual fund outfit.
But personally, I can only think of 4 or 5 biotechs that I would own long-term: MLNM, CRA, HGSI, and AMGN. Everything else is, IMHO, second tier at best.
JMVHO........
WS
Market Data 
Markets 
