Benchmark indifferent, seeks to provide a positive return in a 12-month period.
May invest up to 25% in credit sensitive securities (BBB+ & below).
Bottom-up research, cash allocation is a residual of investment opportunities.
Fund Facts are as of June 30, 2023 unless otherwise noted.
Effective July 28, 2023, the Fund was reorganized into the FPA Funds Trust and its name changed from FPA New Income, Inc. to FPA New Income Fund.
Fund Inception reflects the date when the Fund was first available for purchase under FPA management.
*The Total Annual Fund Operating Expenses before reimbursement is 0.58% (as of the most recent prospectus). First Pacific Advisors, LP (The “Adviser” or “FPA”), the Fund’s investment adviser, has contractually agreed to reimburse the Fund for Total Annual Fund Operating Expenses in excess of 0.45% of the average net assets of the Fund (excluding interest, taxes, brokerage fees and commissions payable by the Fund in connection with the purchase or sale of portfolio securities, and extraordinary expenses, including litigation expenses not incurred in the Fund’s ordinary course of business) through July 27, 2024. This agreement may only be terminated earlier by the Fund’s Board of Directors (the “Board”) or upon termination of the Advisory Agreement.
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Abhi joined FPA in 2010. He serves as a Portfolio Manager and Director of Research for FPA. Prior to joining the firm, Abhi was an investment analyst at Reservoir Capital Group and D.B. Zwirn & Co. and an investment banking analyst at UBS Warburg and Donaldson, Lufkin & Jenrette. He earned a Bachelor’s degree in Economics, summa cum laude, and an MBA from the Wharton School of the University of Pennsylvania.
FPA New Income Fund
FPA Flexible Fixed Income Fund