Performance

Comparative Performance Quarterly

As of December 31, 2019
Fund/Index QTD YTD 1 Year** 5 Years** 10 Years** Since 12/1/15*
Source Capital (NAV) 5.91 % 20.89 % 20.89 % 5.82 % 10.66 % 7.42 %
60% S&P500/40% BC Agg 5.46 % 22.18 % 22.18 % 8.37 % 9.77 % 9.71 %
S&P 500 9.07 % 31.49 % 31.49 % 11.70 % 13.56 % 13.68 %

*On December 1, 2015, the Fund transitioned to a balanced strategy and the current portfolio managers assumed management of the Fund on that date.
**Performance prior to December 1, 2015 reflects the performance of the prior portfolio manager and investment strategy. Performance prior to December 1, 2015 is not indicative of performance for any subsequent periods.

Periods greater than one year are annualized. FPA Fund performance is net of all fees and expenses and includes the reinvestment of distributions. FPA Fund returns do not reflect the deduction of taxes that a shareholder would pay on FPA Fund distributions or the redemption of FPA Fund shares, which would lower these figures.

Past performance is no guarantee, nor is it indicative, of future results. 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 at www.fpa.com or by calling toll-free, 1-800-982-4372.

You should consider the Fund's investment objectives, risks, and charges and expenses carefully before you invest. The Prospectus details the Fund's objective and policies and other matters of interest to a prospective investor. Please read the Prospectus carefully before investing. The Prospectus may be obtained by visiting the website at www.fpa.com, by calling toll-free, 1-800-982-4372, or by contacting the Fund in writing.


Comparison to any index is for illustrative purposes only and should not be relied upon as a fully accurate measure of comparison. The FPA Funds may be less diversified than the indices noted herein, and may hold non-index securities or securities that are not comparable to those contained in an index. Indices may hold positions that are not within the investment strategy. Indices are unmanaged and do not reflect any commissions or fees which would be incurred by an investor purchasing the underlying securities. The FPA Funds do not include outperformance of any index or benchmark in its investment objectives. An investor cannot invest directly in an index.

S&P 500 Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. The index focuses on the large-cap segment of the market, with over 80% coverage of U.S. equities, but is also considered a proxy for the total market. Bloomberg Barclays Aggregate Index provides a measure of the performance of the U.S. investment grade bonds market, which includes investment grade U.S. Government bonds, investment grade corporate bonds, mortgage pass-through securities and asset-backed securities that are publicly offered for sale in the United States. The securities in the Index must have at least 1 year remaining in maturity. In addition, the securities must be denominated in U.S. dollars and must be fixed rate, nonconvertible, and taxable. 60% S&P 500/40% Bloomberg Barclays Aggregate Index is a hypothetical combination of unmanaged indices comprised of 60% S&P 500 Index and 40% Barclays Aggregate Index, representing the Company’s neutral mix of 60% stocks and 40% bonds.

Comparative Performance Monthly

As of February 29, 2020
Fund/Index MTD YTD 1 Year** 5 Years** 10 Years** Since 12/1/15*
Source Capital, Inc. -4.63 % -5.25 % 4.98 % 4.52 % 10.18 % 5.77 %
60% S&P500/40% BC Agg -4.22 % -3.50 % 9.94 % 7.16 % 9.33 % 8.40 %
S&P 500 -8.23 % -8.27 % 8.19 % 9.23 % 12.65 % 10.83 %
Periods over one year annualized. Performance is provided net of fees.
*On December 1, 2015, the Fund transitioned to a balanced strategy and the current portfolio managers assumed management of the Fund on that date.
**Performance prior to December 1, 2015 reflects the performance of the prior portfolio manager and investment strategy. Performance prior to December 1, 2015 is not indicative of performance for any subsequent periods.

S&P 500 Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. The index focuses on the large-cap segment of the market, with over 80% coverage of U.S. equities, but is also considered a proxy for the total market. Bloomberg Barclays Aggregate Index provides a measure of the performance of the U.S. investment grade bonds market, which includes investment grade U.S. Government bonds, investment grade corporate bonds, mortgage pass-through securities and asset-backed securities that are publicly offered for sale in the United States. The securities in the Index must have at least 1 year remaining in maturity. In addition, the securities must be denominated in U.S. dollars and must be fixed rate, nonconvertible, and taxable. 60% S&P 500/40% Bloomberg Barclays Aggregate Index is a hypothetical combination of unmanaged indices comprised of 60% S&P 500 Index and 40% Barclays Aggregate Index, representing the Company’s neutral mix of 60% stocks and 40% bonds.

Past performance is not indicative of future performance. The returns shown for Source Capital are calculated at net asset value per share, including reinvestment of all distributions. Since Source Capital is a closed-end investment company and its shares are bought and sold on the New York Stock Exchange, your performance may also vary based upon the market price of the common stock. You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before you invest.