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The 411 on Fairholme's New Bond Fund

Also, manager changes coming for many Van Kampen funds, and more.

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 Fairholme's (FAIRX) Bruce Berkowitz has filed to launch a focused bond fund in January.

Managed by Berkowitz, Fairholme Focused Income Fund will be a multisector fund that can invest in corporate bonds, government bonds, convertibles, and preferred shares. The idea of a focused portfolio of bonds is rather unusual, as most bond funds try to diversify away issue-specific risk for the benefit of conservative investors.

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Ryan Leggio has a position in the following securities mentioned above: FAIRX. Find out about Morningstar’s editorial policies.