Earnings season is officially underway, and one of the first group of companies to report are the big banks. The spotlight has been on these banks to see how well they preformed in the first quarter. To address these results, we have chosen the Fidelity® Select Banking Portfolio (FSRBX) as this week’s fund of the week.
Inside the Fund
The fund was launched in 1986 and is managed by John Sheehy. Currently, it has about $578 million in assets under management (AUM).
The fund’s holdings are primarily U.S based banks.
|Symbol||Stock||Portfolio Weight||YTD Performance|
|BAC||Bank of America||6.49%||-12%|
The Bottom Line
For investors that are bullish on the banking industry, a mutual fund like the Fidelity® Select Banking Portfolio (FSRBX) may been a well-balanced choice.
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