FPA New Income

Fund Facts are as of September 30, 2019. 
Morningstar evaluates funds based on five key pillars - Process, Performance, People, Parent, and Price - which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analysts assign a rating of Positive, Neutral, or Negative to each pillar.  The Bronze analyst rating indicates the analysts conviction that the fund displays notable advantages across several, but perhaps not all, of the five pillars.

The Total Annual Fund Operating Expenses before reimbursement is 0.58% (as of most recent prospectus). The Advisor has contractually agreed to reimburse the Fund for Total Annual Fund Operating Expenses in excess of 0.50% through January 31, 2020. This agreement may only be terminated earlier by the Fund's Board of Directors (the “Board”) or upon termination of the Advisory Agreement.

Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. This data represents past performance and investors should understand that investment returns and principal values fluctuate, so that when you redeem your investment it may be worth more or less than its original cost. Current month-end performance data, which may be lower or higher than the performance data quoted, may be obtained by calling toll-free, 1-800-982-4372.