Bank stocks starting to look a bargain

With some bank shares at their lowest level in nearly a decade it's worth thinking about a speculative position in the financial services sector. For example, bellwether stock Citigroup has droppped tremendously in the last 12 months.

Citigroup Inc. share price.

Here are some funds that could give you exposure to the beaten down financial services sector.

• Fidelity Global Financial Services A-EUR Fund: aims to provide investors with long-term capital growth, principally through investment in the equity securities of companies throughout the world which are involved in providing financial services to consumers and industry. Recent top holdings include: Allianz, Munich Reinsurance, Bank of New York Mellon.
• ING Invest Banking & Insurance SGD Fund: invests primarily in a diversified portfolio of shares and/or transferable securities issued by companies active in the financial sector. This may include companies involved in the following industries : banking, consumer credits, investment banking and brokerage, asset management and insurance. Recent top holdings include: Bank Of America Corp, Banco Santander Sa, Hsbc Holdings Plc.
• LionGlobal Financial Services Investment A Fund: aims for medium to long-term capital appreciation by investing in stocks and other equity shares of companies in the financial services industries in any part of the world. Recent top holdings include: Banco Santander, Citigroup Inc, BNP Paribas
• UOBAM United Financials Opportunities Fund: investments objectives of the Sub-Fund are to achive capital appreciation through investment in 10 to 20 equity linked securities of institutions in the financial industry globally. The Sub-Fund will seek to take advantage of the potential recovery in this sector and may, from time to time, also invest in debt securities issued by institutions in the financial industry. The Fund is a closed ended fund. The initial offer period will be from 9 June 2008 to 18 July 2008.
• UOBAM United Global Capital Fund: Long-term capital growth through investment in global banks and financial institutions and other companies carrying on business in financial services. Recent top holdings include: Citigroup Inc, Northern Trust Corp, Bank of America.

One-year returns to 25/Jun/08

Sources: Latest fund factsheets. Fund holdings may have changed since publication of factsheets.