Akre Capital Proposes Conversion of Akre Focus Fund to an ETF: One of the Industry’s Largest Single Mutual Fund-to-ETF Conversions

MIDDLEBURG, Va., June 05, 2025 (GLOBE NEWSWIRE) — Akre Capital Management, LLC (“Akre Capital”), a boutique asset manager with a 35-year history of managing concentrated, active equity portfolios, is pleased to announce the proposed conversion of the Akre Focus Fund (the “Fund”) to a transparent, actively-managed exchange-traded fund (ETF), the Akre Focus ETF (Ticker: AKRE). The Board of Trustees of Professionally Managed Portfolios approved the proposed conversion at its meeting held on May 21, 2025. If approved by Fund shareholders, the conversion is scheduled to occur (subject to customary closing conditions) in the fall of 2025. Please find additional details regarding the proposed conversion in the supplement to the Fund’s Prospectus.

“After evaluating multiple options, we believe the best route forward for our shareholders would be a mutual fund-to-ETF conversion,” said John O’Bannon, CIMA, Director of Institutional Fund Distribution, Akre Capital.

The proposed conversion is expected to result in enhanced tax efficiency, increased transparency, and expense reduction for most shareholders.   

Following the closing of the proposed conversion, the ETF will continue to be managed by Akre Capital with no changes to its investment objectives, investment strategies, or fundamental investment restrictions.

“We are delighted to present the proposed conversion to Fund shareholders for their consideration and look forward to engaging with them as they consider the proposal,” said John Neff, Chief Executive Officer and Chief Investment Officer, Akre Capital.

A Proven Investment Philosophy and Approach

Akre Capital’s investment approach strives to concentrate shareholder capital in a limited number of what we believe to be extraordinary businesses with exceptional potential for compounding investors’ capital over extended periods of time. The firm’s “Three-Legged Stool” approach focuses on Business, Management, and Reinvestment:

Business: The team wants to identify businesses that have significant and sustainable competitive advantages, enduring and predictable high returns on invested capital, pricing power in excess of costs, strong balance sheets, and lastly compound free cash flow per share at high rates.

Management: They seek management teams that treat shareholders as partners, are indifferent to Wall Street’s short-term focus, and have rationally determined compensation packages. Great managers possess equal parts integrity and skill. One without the other is insufficient.

Reinvestment: The team strives to invest in businesses with extensive opportunities to reinvest free cash flow, organically or through acquisition, and have a pattern of disciplined reinvestment resulting in above-average returns.

“When we discover businesses which we believe demonstrate excellence in each leg of the stool, we refer to these rare businesses as compounding machines.   We then aim to purchase shares at reasonable valuations,” explained John Neff.

Long Term Results and Expertise

The Akre Focus Fund’s track record underscores Akre Capital’s dedication to sustained and uninterrupted compounding of investors’ capital over long periods through varying economic cycles and market events.

Akre Capital stands out in the investment landscape for its unwavering focus on quality, long-term perspective, and disciplined approach.

“We believe that the firm’s success is a testament to its ability to identify and hold businesses that consistently compound value over time,” said Devon Ramirez, Managing Director of Institutional Fund Distribution, Akre Capital. “For institutional and individual investors seeking a proven investment approach rooted in quality and compounding, Akre Capital offers a compelling investment strategy.”

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-877-862-9556. The Fund imposes a 1.00% redemption fee on shares held for 30 days or less. Performance data does not reflect the redemption fee. If it had, returns would be reduced. The S&P 500 Index is an index of 500 large capitalization companies selected by Standard & Poor’s Financial Services LLC. One cannot invest directly in an index.

About Akre Capital

Founded in 1989 by legendary investor Chuck Akre, Akre Capital has established itself as a boutique asset manager specializing in quality, concentrated, active equity investing. The firm manages approximately $14 billion in private partnership, mutual fund (the Akre Focus Fund), and separately managed account assets of May 31, 2025. Akre Capital is located in Middleburg, VA.

Media Contact:
Victoria Odinotska
KANTER
Tel. +1 571-276-5562

Mutual fund investing involves risk. Principal loss is possible. The Fund is non-diversified, meaning it may focus its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund invests in small- and medium-capitalization companies, which involve additional risks such as limited liquidity and greater volatility than larger capitalization companies. Download the prospectus.

Before you invest in the Akre Focus Fund, please refer to the Statutory Prospectus and Summary Prospectus for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectus by calling 1-877-862-9556. The prospectus should be read and considered carefully before you invest or send money.

The Fund is offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

The Akre Focus Fund is distributed by Quasar Distributors, LLC.       

https://www.akrefund.com/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13e6c670-f2a8-45de-8329-f93829e4a2a8

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