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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.
2 Solid Picks
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 David Ellison of FBR Fund Advisers Inc. Previously, Ellison was a portfolio manager with Fidelity Investments. The fund distributes dividends and capital gains annually. As of January 2009, 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) and Danvers Bancorp Inc. (DNBK).
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 December 2008, the fund had a turnover of 190%.
Anton Schutz has been the lead manager of the fund since June 1999. J.P. Morgan Chase & Co. (JPM) and TFS Financial Corporation (TFSL) are among the top holding of the fund.
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
Read the full analyst report on BURKX
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| Market Summary | Feb 10, 2012 14:18 pm ET |