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Key objective differences between Fairholme Fund and Fairholme Allocation Fund?


BargainValueHunter
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http://www.businessweek.com/news/2010-10-26/berkowitz-s-fairholme-to-start-stock-bond-allocation-fund.html

 

The Fairholme Allocation Fund will seek returns by “investing opportunistically” in a “focused portfolio” of equity, fixed income, and cash-equivalent instruments, according to today’s filing. The fund will have the leeway to invest any, all or none of its assets in each class and will be able to invest in a wide array of securities, including junk bonds, convertible debt, partnerships and real estate investment trusts.

 

The Fairholme Fund disclosed in January 2009 that its principal strategy had been revised to include fixed-income securities as well as equities. During the quarter ended Nov. 30, 2009, Berkowitz began buying the convertible bonds and bank debt of General Growth Properties, the Chicago-based mall owner that won court approval this month for the final stage of its bankruptcy reorganization.

 

 

 

 

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