Oak Associates of Akron, Ohio has started the Red Oak Technology Select Fund, a non-diversified portfolio of common stocks of primarily technology companies. Red Oak joins White Oak Growth Stock Fund and Pin Oak Aggressive Stock Fund in Oak Associates' family of mutual funds.
The fund will hold 16 to 20 stocks. Red Oak will be co-managed by Jim Oelschlager, founder of Oak Associates, and Doug MacKay, who has been a research analyst at the firm since 1991.
Red Oak shares will be available directly from the fund as well as through a number of mutual fund supermarkets beginning Dec. 31. The fund's investment adviser, Oak Associates, was founded in 1985 and manages $10 billion in mutual fund, pension and endowment assets.