The primary objective of the FPA U.S. Core Equity Strategy is long-term growth of capital. Current income is a secondary consideration.
Avoid permanent capital impairment.
Invest in quality businesses at attractive valuations.
Preference for companies with good management.
Fund Facts as of September 30, 2021 unless otherwise noted.
Effective December 28, 2020, the Fund’s name is changed from FPA U.S. Value Fund, Inc. to FPA U.S. Core Equity Fund, Inc.
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 manager began managing the Fund.
The Total Annual Fund Operating Expenses before reimbursement is 1.34% (as of most recent prospectus). The Investment Advisory Agreement (“IAA”) between the Fund and FPA requires FPA to reduce its investment advisory fee to the extent necessary to reimburse the Fund for any annual expenses (exclusive of interest, taxes, the cost of brokerage and research services, legal expenses related to portfolio securities, and extraordinary expenses such as litigation, merger, reorganization or recapitalization) in excess of 1.50% of the first $30 million and 1% of the remaining average net assets of the Fund for the year. This agreement is coterminous with the IAA, and the IAA is renewed annually as of October 1 each year. The IAA may be terminated by the Board, by the vote of a majority of the Fund's shareholders, or by the Adviser.