Abercrombie & Fitch announced the immediate retirement of its CEO on Tuesday morning – here’s what the news means for mutual fund investors.
Inside the News
On Tuesday morning, Abercrombie & Fitch (ANF) announced that its CEO Mike Jeffries will be retiring immediately. Jeffries has seen pressured over the company losing appeal to its teenage target market. He was also removed from his chairman role earlier this year.
Following the news, the stock rallied over 6% on Tuesday morning.
Mutual Funds to Watch
For investors seeking exposure to the company, there are several mutual funds that have large stakes in the company. Below are the funds that currently have the largest holdings of ANF.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| FLPSX | Fidelity Low-Priced Stock | 10.12% |
| VSCAX | Invesco SmallCapValue | 4.50% |
| ACGIX | Invesco Growth and Income | 3.40% |
The Bottom Line
The funds above each own significant stakes in ANF. Investors interested in ANF may also be interested in American Eagle (AEO), The Buckle (BKE) and The Gap (GPS).