Fidelity Select Banking Fund (FSRBX)

Fidelity Select Banking Fund (FSRBX) is a sector stock mutual fund. It provides a tool for investor who likes to diversify in banking or financial sectors. It also has a higher yield than other stock fund.

Fidelity Select Banking Fund (FSRBX)

The investment aim of Fidelity Select Banking Fund is to provide capital appreciation. The fund utilizes its assets to purchase common stocks of companies mainly engaged in banking. The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer’s financial condition and industry position to choose the companies. It may use market and economic conditions to select investments as well.

Fund Profile
Fidelity Select Banking Fund
Fidelity fund details
  • Fund Inception Date: June 29, 1986
  • Ticker Symbol: FSRBX
  • CUSIP: 316390640
  • Beta (3yr): 1.12
  • Rank in category (YTD): 64%
  • Category: Financial
  • Distribution: 1.17%
  • Capital Gains: 0%
  • Expense Ratio: 0.87%
  • Net Assets: $ 549.5 million
  • Number of Years Up: 18 years
  • Number of Years Down: 8 years
  • Annual Turnover Rate: 91.00%
updated on 5/242013

This Fidelity Select Banking Fund has been introduced to public since June 1986. The fund is currently managed by John Sheehy. He started managing this fund in 2012. The total net assets are $549.5 million. It has 1.17% dividend yield. The last dividend was distributed in December 2012 in the amount of $0.22. The annual expense ratio rate is 0.87%, lower than the average in the category (1.72%).

More: Top Fidelity Mutual Funds 2013

Uses a Mid-Value investment style, it has recorded 18 years of positive return and 8 years of negative return. Morningstar ranks this international stock fund with 2-stars rating. The fund has its best achievement in 2003 with 32.39%. Based on the load adjusted returns, the fund’s performance is listed as below:
  • 1-year: 16.86%
  • 3-year: 7.99%
  • 5-year: -0.14%
  • 10-year: 1.88%
You can buy this Fidelity fund for your brokerage account with $2,500 initial funding. There is no minimum subsequent investment. The initial investment for retirement account is $500. Besides purchasing directly from Fidelity, the fund can also be purchased from another 77 brokerages. They are T. Rowe Price, Schwab Retail, EP Fee Small, Scottrade Load, Vanguard, Federated TrustConnect, Firstrade, Royal Alliance, Raymond James, etc.

The top holdings as of December 2012 represent 49.53% of the total portfolio (out of 45 holdings). They are US Bancorp Del, Wells Fargo & Co, M&T Bank Corp, Comerica Inc, Huntington Bancshares Inc, PNC Financial Services Group Inc, BB&T Corp, CIT Group Inc, Cullen Frost Bankers Inc and Bank of The Ozarks Inc. The top regional diversification is United States with 95.7%.

According to the fund prospectus, the principal investment risks are Stock Market Volatility risk, Foreign Exposure risk, Banking Industry Concentration risk, Issuer-Specific Changes risk, etc.

Disclosure: No Position


Post a Comment