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Fairholme Launches Third Mutual Fund

Fairholme Allocation bears a resemblance to its topnotch sibling

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Morningstar Domestic-Stock Fund Manager of the Decade Bruce Berkowitz's Fairholme Capital plans to launch an asset-allocation fund, according to regulatory filings made this week.

The proposed Fairholme Allocation will be the firm's third mutual fund and second that it has launched this year. In January, it rolled out the  Fairholme Focused Income (FOCIX) bond fund.

Courtney Goethals Dobrow does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.