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Fairholme Funds, Inc. Announces 2012 Dividends and Distributions MIAMI--(BUSINESS WIRE)-- The Fairholme Fund (Nasdaq: FAIRX) will not be paying a dividend in 2012. THE FAIRHOLME FOCUSED INCOME ...
The Fairholme Focused Income Fund Announces Dividend MIAMI--(BUSINESS WIRE)-- On March 28, 2013, the Fairholme Focused Income Fund (FOCIX) distributed an Ordinary Income dividend of $0.11877 per ...
Bruce R. (Robert) Berkowitz is an American equity fund manager and registered investment adviser. [2] Berkowitz founded Fairholme Capital Management in 1997 and was formerly a senior portfolio manager at Lehman Brothers Holdings and a managing director of Smith Barney.
Similarly income trusts and closed-end funds, which are numerous in Canada, can offer a distribution reinvestment plan and a unit purchase plan which operate principally the same as other plans. Because DRIPs, by their nature, encourage long-term investment rather than active trading, they tend to have a stabilizing influence on stock prices.
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One notable component of the expense ratio of U.S. funds is the "12b-1 fee", which represents expenses used for advertising and promotion of the fund. 12b-1 fees are paid by the fund out of mutual fund assets and are generally limited to a maximum of 1.00% per year (.75% distribution and .25% shareholder servicing) under FINRA Rules.
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Fair Funds were established by the Sarbanes–Oxley Act of 2002 (SOX), specifically 15 U.S.C. § 7246(a) (the "Fair Fund Provision"). [1]Prior to Sarbanes–Oxley, civil penalties obtained by the SEC based on actions under the securities laws were paid to the United States Treasury, and were not distributed by the SEC to investors who were injured by the securities fraud. [2]