The views expressed in these articles, commentaries or recordings are those of the author and/or presenter at the time created and is for informational purposes only. They do not necessarily reflect the views of FPA or the distributor. Future events, results or views may vary significantly from those expressed and are subject to change at any time based on market and other conditions, and FPA and/or the distributor disclaims any responsibility to update such views. No forecasts can be guaranteed, and certain assumptions may prove to be inaccurate. These views may not be relied upon as investment advice or as indication of trading intent on behalf of any FPA portfolio or the distributor and should not be construed as an offer to sell or a solicitation of an offer to buy securities or any product mentioned. FPA shall not be responsible for any trading decisions, damages or other losses from or related to the information, data analysis or opinions or their use. This information and data has been prepared from sources believed reliable. However, the accuracy and completeness of the information cannot be guaranteed and is not a complete summary or statement of all available data. FPA has received certain nominations or awards by third-parties as reflected herein. Investors should review the criteria for each nomination or award as reflected on the third-party’s webpage. You should not construe the contents herein as legal, tax, accounting, or other advice or recommendations.
You should consider the Fund’s investment objectives, risks, fees and expenses before investing. The Prospectus contain this and other important information which should be read carefully before investing.
Steve Scruggs discusses his approach to value investing, why his cash positions might be lower in the future, and why he doesn't like energy stocks.
The statements contained herein reflect the opinions and views of the portfolio manager as of the date written, is subject to change without notice, and may be forward-looking and/or based on current expectations, projections, and/or information currently available. Such information may not be accurate over the long-term. These views may differ from other portfolio managers and analysts of FPA as a whole and are not intended to be a forecast of future events, a guarantee of future results or investment advice.
Comparison to any index or benchmark is for illustrative purposes only and should not be relied upon as a fully accurate measure of comparison. Indices are unmanaged and do not reflect any commissions, transaction costs, or fees and expenses which would be incurred by an investor purchasing the underlying securities and which would reduce the performance in an actual account. You cannot invest directly in an index.
Portfolio composition will change due to ongoing management of the Fund. Please note that any references in this report to specific securities or instruments are for informational purposes only and should not be construed as a recommendation by the Fund, the portfolio managers, FPA, or the distributor to purchase or sell such securities, and any information provided is not a sufficient basis upon which to make an investment decision. It should not be assumed that future investments will be profitable or will equal the performance of the security/instrument examples discussed. Past performance is no guarantee, nor is it indicative, of future results.
The FPA Funds are distributed by UMB Distribution Services, LLC, 235 W. Galena Street, Milwaukee, WI, 53212.