It didn't take Chuck Akre long to find distribution for his first solo mutual fund. Less than a month after leaving FBR Focus Fund and starting his own Akre Focus Fund, Virginia-based Akre Capital Management revealed Monday that the fund is now available on four major platforms.
Chuck Akre Akre Capital Management founder
Last month, the MFWire reported that ACM "'anticipates' that the Akre Focus Fund will be available through platforms such as Fidelity, Pershing, Schwab and TD Ameritrade 'in the near future.'" It seems that Akre Capital was on the money in their prediction and has completely realized their goals. All four fund giants have already announced the addition of the Akre Focus Fund to their platforms.
"We are seeing real momentum thus far," said Chuck Akre in an official statement. "I am very pleased with the enthusiastic response from mutual fund research departments, financial advisors and individual investors."
Akre serves as the Akre Focus Fund's portfolio manager, and employs the same investment system that earned him 13 years of success with the FBR Focus Fund.
Company Press Release
MIDDLEBURG, Va., Sept 14 -- Akre Focus Fund (Ticker: AKREX) announced its availability today on four major brokerage platforms. The fund was launched August 31, 2009. It is managed by Charles T. (Chuck) Akre, Jr., who resigned as sub-advisor of FBR Focus Fund (Ticker: FBRVX) on August 22, 2009.
"We are seeing real momentum thus far," said Akre who serves as the Akre Focus Fund's portfolio manager. "I am very pleased with the enthusiastic response from mutual fund research departments, financial advisors and individual investors."
Charles Schwab, TDAmeritrade, Fidelity and Pershing have all announced the addition of the Akre Focus Fund to their available NTF mutual funds. "We are grateful to the industry, and these four platforms in particular, for supporting the Akre Focus Fund and making both the retail (AKREX) and institutional share classes (AKRIX) available to their investors so quickly," said Andrew Schaefer, president and chief operating officer at Akre Capital.
Akre, who has more than 40 years of experience in the securities business and a highly regarded reputation in fund management, intends to follow the same stock picking system that he employed for the last 13 years.
"In the Akre Focus Fund," said Akre, "we have a greater opportunity to control our own destiny. Investors are open to greater communication and transparency in light of the past few years of economic turmoil. We look forward to communicating openly and often with them," he added.
Akre's investment style will remain the same, as the fund will invest in companies believed to offer the best opportunities for growth, regardless of size or sector. This thoughtful approach allows the portfolio manager to look for businesses with high returns and low risk that are reasonably priced. In addition, the portfolio favors companies managed by people who act with integrity and continually put shareholder interests first.
Investors may contact their financial advisors or call Akre Focus Fund shareholder services at 877-862-9556 to invest. The fund offers retail (Ticker: AKREX) and institutional (Ticker: AKRIX) share classes.
About Akre Capital Management, LLC
Akre Capital Management is registered as an investment adviser under the Investment Advisers Act of 1940. Charles Akre established Akre Capital Management in 1989 and for a time operated it as part of Friedman, Billings, Ramsey Investment Management, Inc. (FBR), ending in 1999. In 2000, Akre Capital Management registered as an investment adviser independently of FBR.
Akre Capital Management offers separately managed accounts, limited partnerships and a mutual fund. Additional information about the fund is available at www.akrefund.com.
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