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

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

Rating:A Midwestern Mutual Fund Entrepreneur Dies at 85 Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 30, 2016

A Midwestern Mutual Fund Entrepreneur Dies at 85

News summary by MFWire's editors

A Midwestern mutual fund entrepreneur who was also one of the longest-serving portfolio managers in the country died earlier this month.

Albert Nicholas
Nicholas Company
Former Co-Portfolio Manager
Albert Owen "Ab" Nicholas passed away on August 4 at the age of 85, Nicholas Company [profile] confirms in a filing with the SEC. Nicholas' son, president and chief investment officer David O. Nicholas, age 55, now also serves as CEO of the Milwaukee-based mutual fund shop.

The Milwaukee Journal Sentinel published an obituary notice and reported on Ab Nicholas' death.

After working with Northwest Insurance Company and M&I Bank, Ab Nicholas founded Nicholas Company in 1967 and launched his flagship mutual fund, the Nicholas Fund, in 1969. From the beginning, that fund has had only a $500 minimum investment. That 47-year-old, four-star mutual fund now has $3.2 billion in AUM. As of Nicholas Company's most recent form ADV (filed on January 27, 2016), the award-winning firm had $6.1 billion in AUM, with the vast majority of that in its mutual funds. Nicholas Company has a long-term, fundamental, growth-oriented approach to investing.

Ab Nicholas served as a co-PM on the Nicholas Fund and the $535.1-million, five-star Nicholas Equity Income Fund up until his death this month. David Nicholas continues to PM the Nicholas Fund, while Michael Shelton continues to PM the Nicholas Equity Income Fund.

Family and staff at Nicholas Company issued a statement on Ab Nicholas' death, remembering him for "his great insight, wisdom, and optimism for business and the stock markets."

"For him, it was all about the shareholder," David Nicholas tells the Journal Sentinel.

"Ab was a giant," Ted Kellner, executive chairman of Fiduciary Management Inc. and alumnus of Nicholas Company, tells the paper.

Ab Nicholas was born in Rockford, Illinois on January 24, 1931. He earned both his bachelor's degree and his MBA at the University of Wisconsin-Madison, where he served in ROTC. He was also, as noted by the Journal Sentinel, "a standout basketball player" and shooting guard for UWM's Badgers. Yet he went into the Army after college and then came back for grad school, in the process passing up opportunities to play with the NBA's Syracuse Nationals and Milwaukee Hawks.

The late entrepreneur also contributed millions of dollars to a host of non-profits, including the Boys & Girls Clubs of Greater Milwaukee, the Brightstar Wisconsin Foundation, the Nicholas Center for the Episcopal Diocese of Chicago, and the Nicholas Conservatory and Gardens. In 2008 he donated $10 million to create the Samaritan Foundation for Church and Family Wellness. In 2015 Ab Nicholas and his wife, Nancy, contributed $50 million to UWM, and in 2013 they created a $50-million endowment and foundation to give scholarships to send high school basketball players to the University of Wisconsin.

"His love was giving back to Madison and giving back to young people," David Nicholas tells the Journal Sentinel.

"Ab's legacy will be part of this campus for decades to come," UWM chancellor Rebecca Blank tells the paper.

Ab Nicholas is survived by Nancy, his wife of 64 years, as well as three children and seven grandchildren. Funeral services were held on August 12 at St. Paul's Episcopal Church in Milwaukee. The family is directing donations to the Nicholas Family Foundation. 

Edited by: Neil Anderson, Managing Editor

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

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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:
Add to My Yahoo!
follow us in feedly

  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use