The Fund’s primary investment objective is a high total investment return, including capital
appreciation and income.
Fund Facts are as of September 30, 2020, unless otherwise noted.
Fund Inception reflects the date when the Fund was first available for purchase under FPA management.
FPA Manager Inception reflects the date the current portfolio managers began managing the Fund.
The Fund transitioned to its current investment strategy on September 1, 2013.
The Total Annual Fund Operating Expenses (as of most recent prospectus) before reimbursement is 1.36%. The Adviser has contractually agreed to reimburse the Fund for Total Annual Fund Operating Expenses in excess of 1.29% of the average net assets of the Fund (excluding brokerage fees and commissions, interest, taxes, fees and expenses of other funds in which the Fund invests, and extraordinary expenses, including litigation expenses not incurred in the Fund’s ordinary course of business) 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.