The Middleburg, Virginia, firm said in a news release that the fund will be managed by Charles T. Akre, Jr., who resigned as sub-adviser of FBR Focus Fund on August 22.
According to the announcement, the fund will invest in companies believed to offer the best opportunities for growth, regardless of size or sector. The company said managers would “look for businesses with high returns and low risk that are reasonably priced.”
The company said the new offering would be available from major brokerage platforms in the near future. The fund offers retail (Ticker: AKREX) and institutional (Ticker: AKRIX) share classes.
More information is available at www.akrefund.com.