New Fund From a Seasoned Manager Opens
Chuck Akre officially launched his new fund, Akre Focus Fund (symbol AKREX), today. For 13 years, Akre managed FBR Focus, which is a member of the Kiplinger 25, our annual list of our favorite no-load mutual funds.
As Kiplinger's reported earlier in August, Akre's analysts from FBR won't be joining him. He had hired Brian Macauley, David Rainey and Ira Rothberg to work as analysts for Akre Focus Fund. But FBR hired them away and named them the co-managers of FBR Focus.
Akre's investment style on the new fund will remain the same, according to a statement from Akre Capital Management. The fund will invest in growth companies of any size and in any sector and should be available through brokerages, such as Fidelity, Schwab and TD Ameritrade soon.