MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, March 30, 2011 Berkowitz Shakes Off Investors' Concerns Bruce Berkowitz isn't too concerned about the size of his $20 billion Fairholme Fund [see profile], even if his supporters are, InvestmentNews reports. Fans of Berkowitz -- including Bob Weiss, director of research at Heritage Financial Services Inc., which has $20 million of invested with Fairholme, and Edward Kuresman, principal and portfolio manager at Madison Wealth Management, with $8 million in Fairholme -- think the Fairholme star "might be stretching himself too thin" and that his assets have grown substantially, but it may be hard to maintain that performance now.” For his part, Berkowitz said that 22.4 percent of the flagship fund is in cash, which has helped him take advantage of opportunities, as well as remain liquid. he also told the pub that his new Allocation Fund is designed for investors who are worried about the size of the Fairholme Fund. The smaller fund, which launched this year, has a similar strategy as the flagship fund and will be able to make small-cap bets. Printed from: MFWire.com/story.asp?s=36406 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |