Orinda, California-based Litman/Gregory Fund Advisors has expanded its Masters' Select series of funds to five. The firm cherry picks top portfolio managers and gives them freedom to pick stocks that represent their "highest conviction ideas."

Sub-advisory duties for the Masters' Select Focused Opportunities Fund will be divided evenly between three teams: Chris Davis and Ken Feinberg of Davis Selected Advisors, Mike Embler and Peter Langerman of Franklin Mutual Advisors, and Craig Blum and Steve Burlingame of TCW Investment Management. Unlike the other Masters' Select funds, which allow sub-advisors to choose up to 15 stocks, the Focused Opportunities Fund requires each team to pick between five and seven stocks.

Detailed information on the fund is available at Litman/Gregory's Masters' Select Web site.  

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