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AKREX co-manager left 4/25/19

AKREX co-manager Saberhagen left 4/25/19 https://www.morningstar.com/funds/XNAS/AKREX/quote.html
Given the 4% turnover for AKREX that may not be an immediate concern, but the departure was unexpected.

Comments

  • @NumbersGal I have had $'s invested in AKREX for several years. Thanks for the heads up.
  • edited May 2019
    I see in M* that there are 2 co-managers working with Akre. With Charles up there in age, maybe he made his succession plan with the one who stayed, John Neff, and the other got pissed off.
  • Mr. Akre has a good reputation of training successors; i would not be too worried at this point.

    FYI: I have a significant amount invested in AKRIX/AKREX.
  • Anyone know Saberhagen's future plans?
  • mcmarasco said:

    Mr. Akre has a good reputation of training successors; i would not be too worried at this point.

    FYI: I have a significant amount invested in AKRIX/AKREX.

    Maybe that's not the point. I took my money and ran from AKREX few years back. Manager age is a concern to me. I'm not sure about what "track record" he has of training replacement managers. The fact is one of them left.

    All I can hope for existing investors is Akre does not end up like Third Avenue.
  • VF I was referring to an article on m* which was referring to his time at Hennessy. I should have been clearer. Still no reason for his departure either.

    Yes age is a concern but I am willing to give it some time.
  • edited May 2019
    Doesn't make sense to me to leave a very successful fund manager because he's getting older. Why not let performance guide you? There has been no drop off there. Rank in category, 7 in past 3 years, 2 in past 1 year, per M*.
  • Agreed Mike. The only point I was trying to make with age is that you buy the manager And until it’s proven the other managers cannot continue to perform at a high level then I am going nowhere.

    This fund has been very good to me. I’m staying invested unless something drastic occurs.
  • I agree I sold AKREX early. Fact is, I didn't think Akre was going to stay at the helm for so long. Oh well. I doubled my money before I got out. Wish I could the say the same about all my investments.
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