Charlie Fernandez left Fairholme Capital Management

Charlie Fernandez, the comanager on the Fairholme mutual funds, has left the firm recently. Fernandez was the comanager of Fairholme (FAIRX) fund, Fairholme Focused Income (FOCIX) fund, and Fairholme Allocation (FAAFX) fund. This left these funds with the only manager, Bruce Berkowitz. Berkowitz is the firm’s founder. He is among one of the well-known fund’s manager. His recently bet on financial services has made the funds to underperform. Based on latest fund’s performance, the fund’s has loss 26% of its assets.

There are no details about the reason of his departure from the Fairholme firm. Fernandez joined the Fairholme fund in 2008.