FBR announced yesterday that David Rainey, Brian Macauley, and Ira Rothberg will be the new comanagers of FBR Focus (FBRVX). The three have worked on the fund together for five years under the direction of one of the most accomplished managers over the past decade, Chuck Akre, who resigned recently to start his own Akre Focus Fund (AKREX).
Rainey, the most tenured analyst on the team, had worked with Akre for the past 11 years on the fund. Macauley joined the duo in 2003, and Rothberg was added in 2004.
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Ryan Leggio does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.