Investment Objective

The primary objective of the FPA U.S. Value Strategy is long-term growth of capital. Current income is a secondary consideration.

Absolute Return Focus

Avoid permanent capital impairment.

Deep Research

Invest in quality businesses at attractive valuations.

Company Focus

Preference for companies with good management.

Fund Facts

Ticker Symbol FPPFX
Share Class No load, no 12b-1 fees
Initial Minimum Investment $1,500
Fund Assets $75.49 Million
Fund Inception Apr 1, 1984
FPA Manager Inception Sep 1, 2015
Net Expense Ratio (as of most recent prospectus) 1.22%
Dividend Frequency Semi-Annually

Fund Facts 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 manager began managing the Fund.

The Total Annual Fund Operating Expenses before reimbursement is 1.43% (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. The current term of the IAA runs through September 30, 2020.

Portfolio Manager

  • Gregory R. Nathan

    Joined FPA in 2003
    Greg originally joined FPA in 2003. He serves as Portfolio Manager for the FPA U.S. Value Fund, Inc.  Prior to rejoining FPA in 2007, Greg was a managing member of Coldwater Asset Management, LLC, from 2005 to 2006.  He was an equity research analyst at Lakeway Capital from 2002 to 2003.  Greg earned a Bachelor’s degree in Business Administration (with distinction) from the University of Michigan.

    FPA U.S. Value Fund