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Top Financial Equity Mutual Funds
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ShareToday we are featuring "financial equity" mutual funds, which invest at least 50% of their assets in financial services and related companies.
Investors can find such funds by checking out the Zacks #1 Rank Financial Equity Funds list.
FBR Small Cap Financial (/>FBRSX) invests at least 80% of its assets in securities of small-cap companies with market capitalization of less than $3 billion. The fund focuses on companies that invest in real estate, usually through mortgages or other consumer-related loans.
Since its inception in December 1996, this Zacks#1 Rank fund has been managed by FBR Fund Advisers Inc.'s David Ellison. Ellison was earlier a portfolio manager with Fidelity Investments. The fund distributes dividends and capital gains annually. As of October 2008, its portfolio turnover was 147%.
Investors have to make minimum initial investment of $2,000 to enter the fund. FBRSX's top holding include Hudson City Bancorp Inc. (HCBK - Analyst Report), People's United Financial Inc. (PBCT - Analyst Report) and Danvers Bancorp Inc. (DNBK).
Fidelity Select IT Services (FBSOX) seeks capital appreciation and invests at most of its assets in securities of companies engaged in providing information technology services. The fund is nondiversified.
The fund may also invest in securities of foreign issuers. The Zacks#1 Rank fund offers dividends and capital gains twice a year - in April and December. In 2008, FBSOX outpaced 120.11% of its peers. It had a portfolio turnover of 135% as of last October.
Its top holdings include Accenture Ltd. (ACN - Snapshot Report), Visa Inc. (V - Analyst Report) and Fiserv Inc. (FISV - Analyst Report). FBSOX has an expense ratio of .97%.
Burnham Financial Services A (BURKX) seeks capital appreciation and invests primarily in U.S. companies in the financial services sector with market capitalization of $8 billion or less.
The fund may invest up to 20% of its assets outside the financial services sector and in debt securities from any government or corporate issuer. It may also invest up to 15% of assets in foreign securities. The fund pays dividends and capital gains annually. As of September 2008, the fund had a turnover of 174%.
Anton Schutz has been the lead manager of the fund since June 1999. J.P. Morgan Chase & Co. (JPM - Analyst Report), TFS Financial Corporation (TFSL - Snapshot Report) and Citigroup Inc. (C - Analyst Report) are among the key holding of the fund. BURKX outstripped 301.48% of its peers in terms of annual return in the last year.
Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our new mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.
Read the full analyst report on FBRSX
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| Market Summary | May 25, 2012 10:22 am ET |
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