FIDELITY FOCUS FINANCIAL SERVICES FUND $25.79 (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., 31.4%; Japan, 16.2%; the UK, 9.3%; Italy, 9.0%; Germany, 5.1%; Bermuda, 4.2%; South Korea, 3.9%; the Netherlands, 3.5%; Switzerland, 2.9% and Brazil, 2.4%.
The top holdings of this $96.4 million fund are Fannie Mae, Munich Reinsurance, CitiGroup, Unicredito Italiano, ABN Amro Holdings, Dollar Financial, T&D Holdings, American International Group, Intesa Sanpaolo and Wachovia.
The fund is diversified in the finance sector as follows: 35.6% in Commercial banks, 26.7% in Insurance, 11.7% in Real estate management & development, 5.9% in Thifts & mortgage finance and 5.2% in Diversified financial services.
Fidelity Focus Financial Services Fund’s one-year gain in Canadian dollars is 16.4%. The S&P 500 gained 13.8% in Canadian funds over the same period. The fund’s MER is 2.68%.
Fidelity Focus Financial Services Fund is a buy.
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