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Fund Times

Fund Times: Five-Star Value Manager to Leave FBR Focus

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Charles Akre will resign as manager of  FBR Focus (FBRVX) effective Sept. 22, 2009. FBR hasn't said who will run the fund after Akre departs.

Akre, however, will start a new fund. He filed documents with the SEC to set up his own fund, Akre Focus Fund (AKREX), which he will run using the same value strategy he employed at FBR.

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Ryan Leggio does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.