FIDELITY FOCUS FINANCIAL SERVICES FUND $19.30 (CWA Rating: Aggressive) invests mostly in financial services companies in brokerage and investment management, investment banking, life insurance, personal loans, property and casualty insurance, and savings and loans.
Fidelity Focus Financial Services Fund now holds a higher percentage of U.S. and UK stocks than in the past. Geographically, its holdings are allocated: the U.S., 41.8%; the UK, 11.6%; Japan, 9.0%; France, 8.4%; Germany, 7.6%; Switzerland, 5.3%; Sweden, 4.1%; Norway, 4.1% Italy, 3.0%; and Brazil, 2.9%.
The top holdings of this $59.9 million fund are Bank of New York Mellon, American International Group, Munich Reinsurance, Mitsubishi UFJ Financial Group, Banca Intesa Sanpaolo, AXA, Assicurazioni Generali, Unicredito Italiano, Allianz and Sumitomo Mitsui Financial Group.
The fund is diversified in the finance sector as follows: 36.1% in Commercial banks, 34.1% in Insurance, 9.1% in Diversified financial services, 7.6% in Capital markets and 6% in Real estate management & development.
Fidelity Focus Financial Services Fund’s one-year loss in Canadian dollars is 24.1%. The S&P 500 lost 15.4% in Canadian funds over the same period. The fund’s MER is 2.65%.
Fidelity Focus Financial Services Fund is a buy.
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