| Quarterly Commentary
FPA Flexible Fixed Income Fund 3Q25 Commentary
Quarterly commentary from the Flexible Fixed Income Fund team sharing insights on markets, portfolio positioning and performance.
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Category: Quarterly Commentary
| Quarterly Commentary
FPA Crescent Fund 3Q25 Commentary
Quarterly commentary from the Crescent Fund team sharing insights on markets, portfolio positioning and performance.
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| Quarterly Commentary
FPA Queens Road Small Cap Value Fund 3Q25 Commentary
Quarterly commentary from the Queens Road Small Cap Value Fund team sharing insights on markets, portfolio positioning and performance.
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| Quarterly Commentary
Source Capital 2Q25 Commentary
The first half of 2025 brought higher volatility, with the MSCI ACWI and S&P 500 declining by 16.3% and 18.9%, respectively, in a few days in April from their February peaks.
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| Quarterly Commentary
FPA Queens Road Small Cap Value Fund 2Q25 Commentary
Performance versus the Index was strong in the first half of 2025 and we are pleased with the results – particularly our ability to outperform when the markets were weak and volatile.
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| Quarterly Commentary
FPA Flexible Fixed Income Fund 2Q25 Commentary
On April 2nd, the federal government announced historically high levels of tariffs on dozens of trade partners.
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| Quarterly Commentary
FPA Queens Road Value Fund 2Q25 Commentary
Following April’s tariff tantrum, the markets have fully recovered and are making new highs.
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| Quarterly Commentary
FPA New Income Fund 2Q25 Commentary
On April 2nd, the federal government announced historically high levels of tariffs on dozens of trade partners…
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| Quarterly Commentary
FPA Crescent Fund 2Q25 Commentary
The first half of 2025 brought higher volatility, with the MSCI ACWI and S&P 500 declining by 16.3% and 18.9%, respectively, in a few days in April from their February peaks.
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