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 |
|
Friday, June 17, 2011 Fairholme Fund Bleeds More Than $2 Billion in Three Months The Fairholme Fund [see profile] is bleeding assets, with estimated outflows of $2.5 billion within the past three months, Morningstar reports. The fund is reportedly down some eight percent year-to-date through May and its total assets have dropped to some $16 billion as of May from about $20 billion in February. In an interview with Bloomberg Television last week, Bruce Berkowitz said that the fund now holds some five percent of its assets in cash, compared to the 25 percent in February. Berkowitz also told Morningstar analysts this week that although he adopts a cautious approach to managing liquidity and maintaining a cash buffer, he is also comfortable keeping cash below 10 percent for an extended stretch of time. Printed from: MFWire.com/story.asp?s=37098 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |