Veteran banking analyst Samuel J. Beebe is leaving William R. Hough & Co. to set up a no-load fund specializing in financial stocks.
Mr. Beebe plans to emphasize stocks expected to rise due to mergers.
The Beebe Fund, part of the C/Funds Group Inc., Venice, Fla., is to invest primarily in bank and thrift stocks. However, Mr. Beebe said, it will also consider mortgage banks, consumer lenders, commercial lenders, and real estate investment trusts "when they appear to present sound fundamental values."
The analyst said the new fund has about $1 million, including his own $25,000. He hopes it will reach $10 million by yearend 1998; the ultimate target is $100 million.
Mr. Beebe, 53, has followed financial stocks for 15 years, first at Williams Securities, Tampa, which was acquired by Baird & Co., Milwaukee, and since January 1995 at Hough.