John Hancock Regional Bank Fund (FRBAX)
13233 views
Rate Now:
average rating: 4.00 / 2 ratings
DESCRIPTION:
Date updated:12-06-2007
From their website.
"The Fund seeks long-term capital appreciation with moderate income as a secondary objective. To pursue these goals, the Fund normally invests at least 80% of its assets in stocks of regional banks and lending companies, including commercial and industrial banks, savings and loan associations and bank holding companies."
The fund's long-time manager Jim Schmidt announced he was retiring and was interviewed in the February 12, 2007 Barron's.
"As it turned out, regional banks offered a good investment opportunity back in 1985. That was when Jim Schmidt launched the John Hancock Regional Bank Fund. Twenty-two years ago, there were about 14,500 commercial banks in the U.S., roughly twice as many as today's total. "The sheer number of banks gave you a tremendous opportunity to find value," says Schmidt."
Now, after years of witnessing-and capitalizing on-bank mergers and acquisitions, Schmidt is retiring. Lisa A. Welch, who has helped him run the fund in recent years, will take over.
The fund's assets peaked in 1998 at nearly $8 billion, versus about $2 billion today. In the late 1990s, as tech stocks dominated the market, "You could talk about bank stocks that grew earnings at 8%, but it sounded pretty dull," Schmidt recalls. Not so any more.
Here are the fund's top holdings
Current Returns:
1-Year: -12.00%
3-Year: 0.46%
5-Year: 7.88%
As of 10/31/07
-
USB
Us Bancorp - $30.36
- +4.94%
- $27.00
No Analysis added
-
STT
State Street Cp - $43.20
- +5.37%
- $39.00
No Analysis added
-
BK
Bank Of Ny Mellon - $26.50
- +14.32%
- $22.33
No Analysis added
-
CFR
Cullen Frost Bnkr - $54.50
- +17.71%
- $45.59
No Analysis added
-
PNC
P N C Fin Svcs Gr - $68.00
- +13.62%
- $57.59
No Analysis added
-
BAC
Bk Of America Cp - $20.87
- +6.32%
- $19.40
No Analysis added
-
WFC
Wells Fargo & Co - $28.31
- +3.89%
- $25.43
No Analysis added
-
WB
Wachovia Cp - $5.15
- +43.06%
- $4.35
No Analysis added
- Top Professional Portfolios
- 1. The Children's Investm...
- 2. Navellier & Associ...
- 3. Neuberger Berman Genes...
- 4. Joel Greenblatt
- 5. T. Rowe Price New Era ...
- show all
- Top Do-It-Yourself Portfolios
- » Blank
- » Drew's List
- » Robin Retirement
- » The Eagle's Nest
- » beech hill
- show all
- Most Viewed Portfolios
- » Warren Buffett
- » 10 Short Squeezes
- » George Soros
- » T. Boone Pickens - BP Cap...
- » Carl Icahn
- show all
Jim Cramer's Portfolios of the Week
Jim Cramer shocked the world on Monday when he went on NBC’s “Today Show” and told viewers that any money they anticipate needing in the next five years should be rem...
10.09.08 | 19:41 PM
Cramer's Take on Top-Searched St...
It's easy. Short the market and short some more on any bounce. That seems to be the way to play this market of late. Another vicious down move has left investors rattled...
10.09.08 | 19:29 PM
Three Almost-Free Stocks
By Stockpickr Guest Columnist Glen Bradford Ignorance must be bliss. I was just reading an article claiming that the most undervalued companies include UnitedHeal...
10.09.08 | 19:00 PM
Nebraska Stocks
more articles
Nebraska prides itself on having one of the lowest costs of living of the 50 states, having some of the cleanest air and water and being centrally located. It also boasts...
10.09.08 | 18:33 PM
General market Technical Analysi...
11.14.07 | 22:55 PM From author
ZackAttack
Capitulation?
10.11.08 | 13:24 PM From author
jim553
Cartoon Thread
11.15.07 | 20:31 PM From author
Peter near Matanzas Inlet
The Bull Market Is The Bear Market
more forums
03.10.08 | 19:20 PM From author
Ira Krakow
Q.
if the oppisite of pro is con, t...
10.11.08 | 19:48 PM Asked by
razors edge
Q.
whoa Dow can't seem to make its ...
06.30.08 | 15:28 PM Asked by
Xaviar
A. small trading before thrusday
today 's lists
Analyst Upgrades
Analyst Upgrades for Oct. 10, 2008 more
Biggest % Gainers
Here is the stock list of some of the largest % gainers from the prior trading day. Oct. 10, 2008. more
TheStreet.com TV Videos: Oct. 3
These are some of the stocks mentioned today on TheStreet.com TV. Click the URL below each stock to watch the video. more
Comments not available