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By Jim Mackinnon, Akron Beacon Journal, Ohio Knight Ridder/Tribune Business News
Jan. 10--A new fund, a new hire and a new year.
And new hope for the optimists at Oak Associates.
The boutique mutual fund firm in September hired nationally recognized economist Ed Yardeni away from Prudential Equity Group to be its new chief investment strategist.
Then, just about a month later, the Bath Township firm announced a new addition to its family of aggressive growth offerings, the Rock Oak Core Growth Fund. Rock Oak, which went on sale on
Dec. 31, offers a slightly different investment style compared to Oak Associates' other highly concentrated funds.
Besides the possibility of being a smoother-riding fund, Rock Oak perhaps can smooth the way to future success at Oak Associates, whose funds did exceptionally well in the go-go 1990s and attracted billions of investment dollars largely through word-of-mouth -- the company does no advertising. But since the stock market bubble burst in 2000, the company and its clients, many of whom are in Northeast Ohio, have lived …