FIDELITY FOCUS FINANCIAL SERVICES FUND $21.90 (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 international stocks than in the past. Geographically, its holdings are allocated: the U.S., 36.1%; Japan, 17.2%; Italy, 13.4%; Germany, 6.4%; the Netherlands, 4.4%; France, 3.5%; the UK, 3.5%; Switzerland, 2.7% Bermuda, 2.2%; and Thailand, 2.0%.
The top holdings of this $75.2 million fund are ABN Amro Holdings, Fannie Mae, Royal Bank of Scotland Group, Mitsubishi UFJ Financial Group, National Financial Partners, AXA, CitiGroup, Unicredito Italiano, Allianz and T&D Holdings.
The fund is diversified in the finance sector as follows: 35.6% in Commercial banks, 26.7% in Insurance, 5.9% in Thifts & mortgage finance, 11.7% in Real estate management & development and 5.2% in Diversified financial services.
Fidelity Focus Financial Services Fund’s one-year gain in Canadian dollars is 0.8%. The S&P 500 gained 4.0% in Canadian funds over the same period. The fund’s MER is 2.66%.
Fidelity Focus Financial Services Fund is a buy.
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