Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Akre Packs Up to Launch His Own Fund Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, August 05, 2009

Akre Packs Up to Launch His Own Fund

by: Armie Margaret Lee

Chuck Akre is leaving the five-star FBR Focus Fund next month to start his own fund. FBR Asset Management has yet to name his replacement.

Chuck Akre

"Chuck Akre of Akre Capital Management has tendered his resignation as sub-adviser to the FBR Focus Fund effective September 22, 2009," FBR spokesman Tucker Hewes confirmed to The MFWire. "FBR Fund Advisers will continue to manage the Fund and anticipates the shareholders will continue to benefit from the Fund's strong performance achieved since inception."

On July 24, Akre filed papers with the SEC to launch the Akre Focus Fund. Retail class shares will come with an expense ratio of 146 basis points, and institutional class shares will sport a 121 bps expense ratio.

Akre founded ACM in 1989 and for a time operated it as part of Friedman, Billings, Ramsey & Co. In 2000, ACM once again became an independent firm.

Akre has been at the helm of FBR Focus Fund since 1996, chalking up a 12.6 percent annualized gain through August 3, noted Morningstar analyst Ryan Leggio.

"This is a big loss for FBR," Leggio wrote in the Fund Times column, noting that the fund never lagged the S&P 500 in any rolling five-year period while Akre was in charge. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use