Chuck Akre, the crusty manager of FBR Focus (symbol FBRVX), a member of the Kiplinger 25, is moving on. Akre will step down as manager of the fund on August 22 and strike out on his own to launch Akre Focus Fund.
Akre has compiled a phenomenal record at FBR Focus since its inception in December 1996. Over the past ten years through July 31, Focus returned an annualized 11%, an average of ten percentage points per year better than Morningstar’s benchmark of funds that concentrate on midsize growth companies. That performance landed the fund in the top 1% of its category. Year-to-date through August 5, the fund returned 28%.
Although he invests in companies with above-average growth, Akre, based in Middleburg, Va., takes care not to overpay for stocks. Moreover, he runs a highly concentrated portfolio with low turnover. At the end of June, for instance, the fund’s ten biggest holdings accounted for two-thirds of its assets. Its big winners this year include AmeriCredit ( ACF ) and CarMax (KMX ), both of which have more than doubled through August 5, and Penn National Gaming (PENN ), up 51%.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
FBR has hired away the three Akre Capital Management analysts who had worked on FBR Focus -- Brian Macauley, David Rainey and Ira Rothberg -- and named them as the fund's new co-managers.
-
The 5 Best Actively Managed Fidelity Funds to Buy Nowmutual funds In a stock picker's market, it's sometimes best to leave the driving to the pros. These Fidelity funds provide investors solid active management at low costs.
-
The 12 Best Bear Market ETFs to Buy NowETFs Investors who are fearful about the more uncertainty in the new year can find plenty of protection among these bear market ETFs.
-
Don't Give Up on the Eurozonemutual funds As Europe’s economy (and stock markets) wobble, Janus Henderson European Focus Fund (HFETX) keeps its footing with a focus on large Europe-based multinationals.
-
Best Bond Funds to BuyInvesting for Income The best bond funds provide investors with income and stability – and are worthy additions to any well-balanced portfolio.
-
Vanguard Global ESG Select Stock Profits from ESG Leadersmutual funds Vanguard Global ESG Select Stock (VEIGX) favors firms with high standards for their businesses.
-
Kip ETF 20: What's In, What's Out and WhyKip ETF 20 The broad market has taken a major hit so far in 2022, sparking some tactical changes to Kiplinger's lineup of the best low-cost ETFs.
-
ETFs Are Now Mainstream. Here's Why They're So Appealing.Investing for Income ETFs offer investors broad diversification to their portfolios and at low costs to boot.
-
Do You Have Gun Stocks in Your Funds?ESG Investors looking to make changes amid gun violence can easily divest from gun stocks ... though it's trickier if they own them through funds.
