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Please join us at the Morningstar Investment Conference on April 26, 2023, as Steven Romick, Portfolio Manager of the FPA Crescent Fund, headlines as the keynote speaker.

On the eve of Morningstar Gold-rated FPA Crescent Fund’s (FPACX) 30th anniversary, Steven Romick will reflect on his evolution as an investor and how it enabled the fund to meet its objectives since inception. He will discuss the most recent market cycle, from October 2007 to January 2022, which was a challenging environment for value investing. Additionally, he will impart lessons learned from his almost four decades of investing.1 

Find below the complete information on Mr. Romick's keynote speech, as well as general details on registering for the Morningstar Investment Conference in Chicago.  


Morningstar Investment Conference 2023

Keynote Speech Topic:
The Evolution of a Value Investor
Wednesday, April 26, 2023
McCormick Place Lakeside Center | Chicago, IL
Arie Crown Theater
2pm to 2:30pm CST

Steven Romick, FPA Crescent Fund

Keynote Speaker:

Steven Romick

FPA Crescent Fund | Portfolio Manager

Morningstar Investment Conference 2023


* A Completed Market Cycle (peak to peak) is defined as a period that contains a decline of at least 20% from the previous market peak over at least a two-month period and a rebound to establish a new peak above the previous one by S&P 500 Index.

Past performance is no guarantee, nor is it indicative, of future results. You should consider the Fund's investment objectives, risks, and charges and expenses carefully before you invest. The Prospectus details the Fund's objective and policies and other matters of interest to a prospective investor. Please read the Prospectus carefully before investing. The Prospectus may be obtained by visiting the website at www.fpa.com, by calling toll-free, 1-800-982-4372, or by contacting the Fund in writing.

The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the manager research analysts of Morningstar, Inc. Morningstar evaluates funds based on three key pillars, which are people, process, and parent. Analysts use this three-pillar evaluation to determine how they believe actively managed funds are likely to perform relative to a benchmark and peer-group average after fees and accounting for risk, or in the case of exchange-traded funds and index mutual funds, a relative peer-group median, over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weight of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects an analyst’s conviction in a fund’s prospects for outperformance. Analyst Ratings are continuously monitored and reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to https://advisor.morningstar.com/Enterprise/VTC/Morningstar_Analyst_Rating_for_Funds_Methodology.pdf.

The Morningstar Analyst Rating should not be used as the sole basis in evaluating a fund. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly from what we expected.

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