Investment: Carr's Enterprise

Far from Wall Street, a relatively small mutual fund last year put some of the East's established giants to shame. Enterprise Fund of Los Angeles registered a 116.9% gain in net assets. Among the 20 best mutual-fund per formers for five years, Enterprise really started moving when soft-spoken Fred Carr, 36, took over its management in October 1966: under his guidance, the fund's assets have increased from less than $20 million to $250 million, and the value of a share has jumped from $3.77 to over $9.

Carr works with only one assistant, a secretary, and the informal counsel of...

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