GoodHaven Capital Management has launched the GoodHaven Fund, a no-load value fund with a go-anywhere mandate that includes fixed income and cash.
The fund will look for companies with free cash flow, a strong balance sheet, products and services that fill basic human needs, managers with demonstrated skill in capital allocation, participation in stressed industries, potential for long-term growth and a demonstrated ability to increase prices.
The portfolio managers of the fund are Larry Pitkowsky and Keith Trauner, founders of GoodHave and portfolio managers previously with Fairholme Capital Management.
“We created the GoodHaven Fund so that like-minded investors could benefit from our long-term value approach and the common sense investment principles we use to manage our own money,” Trauner said. “We believe in focused investment research, concentrated portfolio management and the concepts of intrinsic value and margin of safety.”