Investment Objective

The Fund’s primary investment objective is a high total investment return, including capital
appreciation and income.

Fund Facts

Share Class No load, no 12b-1 fees
Ticker Symbol
Initial Minimum Investment
Fund Assets
Fund Inception
FPA Manager Inception
Net Expense Ratio (as of most recent prospectus)*
Dividend Frequency

Fund Facts are 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 managers began managing the Fund.

The Fund transitioned to its current investment strategy on September 1, 2013.

The Total Annual Fund Operating Expenses (as of most recent prospectus) before reimbursement is 1.36%. The Adviser has contractually agreed to reimburse the Fund for Total Annual Fund Operating Expenses in excess of 1.29% of the average net assets of the Fund (excluding brokerage fees and commissions, interest, taxes, fees and expenses of other funds in which the Fund invests, and extraordinary expenses, including litigation expenses not incurred in the Fund’s ordinary course of business) through January 31, 2020. This agreement may only be terminated earlier by the Fund’s Board of Directors (the “Board”) or upon termination of the Advisory Agreement.

Portfolio Managers

  • Gregory Herr, CFA

    Joined FPA in 2007
    Greg joined FPA in 2007. He serves as a Portfolio Manager for FPA. Greg was previously Senior Research Analyst at Vontobel Asset Management, Inc., Vice President at Sanford C. Bernstein & Co., LLC, and Assistant Vice President at Bankers Trust Company. He earned a Bachelor’s degree in Art History at Colgate University. He is a CFA® Charterholder.

    FPA Paramount Fund
  • Pierre O. Py

    Joined FPA in 2011
    Pierre joined FPA in 2011. He serves as a Portfolio Manager for FPA. Prior to joining the firm, Pierre was Sr. International Investment Analyst at Chicago-based value manager Harris Associates LP. He was previously Analyst in Principal Investing at Goldman Sachs and in Investment Banking at Salomon Brothers. Pierre earned a Master in Management (MIM) - Grande Ecole at HEC Paris with a Specialization in Finance, Tax Strategy and International Law, and an MBA from Harvard Business School. He also holds an LLM in International Business and Tax Law, and is a former student of the Paris Institute of Political Studies (IEP Paris).

    FPA International Value Fund
    FPA Paramount Fund