Mar 30
http://www.kansascity.com/2011/03/28/2759454/investment-firm-run-by-former.htmlBy MARK DAVIS
The Kansas City Star
Stowers
More News
- Development at The National golf community enters new stage
- Heads Up | August A. Busch IV to leave InBev board; S&P downgrades Portugal, Greece; home-price index falls
- Lenexa-based Bats Exchange looks to attract listings
- Labor Notes | UAW president criticizes stock awards for Ford’s CEO
- Buick bucks gas-guzzler image
- Stocks falter despite improving economic reports
- Investment firm run by former American Century CEO is seeking clients
- Local Business News in Brief | Tension Envelopes marks 125th anniversary
- Competition for summer jobs will heat up quickly
- New home sales slowest in at least a half-century
- Heads up | Arguments on Aquila
- Associated Wholesale Grocers sets sales record
- Some YRC worker pensions face cuts
- Stocks edge higher
- Why inflation hurts more than it did 30 years ago
- YRC stock climbs after board member says he doubts company will declare bankruptcy
- Local Business News in Brief | Urban League cites YMCA official
- Markets make an upward step
- Best Practices | Happi Names
- Labor Notes | Union backs AT&T’s purchase of T-Mobile
- YRC unit adding positions
- Weaker yen gives Wall Street strength as stocks see ‘relief rally’
- Housing picture looks gloomier in Kansas City area
- Electrical contractor unveils plans to expand and hire
- Consumer prices rise 0.5 percent, the most since June 2009
Stowers, former CEO of American Century Investments and son of its founder, runs his own investment firm in Kansas City. Oxford Creek Capital Management LLC hung out its shingle on Ward Parkway more than a year ago but is only now actively seeking new clients.
“After 30 years of being in something, you can’t get it out of your blood,” Stowers said.
Plus, the huge drop in stock markets gave Stowers an investment opportunity he didn’t expect to see again.
Oxford Creek has $46.7 million to manage and has attracted only one client so far. It mostly manages Stowers’ own money and some family assets, he said.
Stowers has spent much of his time assembling a team and building the compliance, accounting and other systems needed to manage large individual and institutional accounts.
“We could handle $1 billion next week if it were to come in the door,” said Glenn Fogle, a former American Century fund manager who joined Oxford Creek last fall.
Individuals need $3 million or so to open an account, institutional clients $10 million. That means the firm competes with Kansas City-based American Century only in a small way.
American Century spokesman Chris Doyle said there was some overlap between the two money managers but room for both.
When it comes to picking stocks, the apple doesn’t fall far from the tree.
Oxford Creek’s website describes it as a growth-style investor that looks for accelerating growth of revenues and earnings, among other things, before buying shares. These are old standbys at the American Century fund family.
Stowers left American Century in 2007 and has pursued other ventures, notably in real estate, such as the Hangar 10 development at the Wheeler Downtown Airport in Kansas City.
To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com.
No comments:
Post a Comment