The views expressed in these articles and commentaries are those of the author at the time created.  They do not necessarily reflect the views of FPA or the distributor.  These views 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. 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 in this article. 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 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.

 

May 14, 2019

FPA International Value Fund (FPIVX) is Named to Morningstar’s FundInvestor 500 List

The May 2019 Morningstar FundInvestor newsletter names the FPA International Value Fund (“Fund”) to the 'FundInvestor 500' list of the industry's 500 “best and most notable funds,” based on Morningstar’s analysis. The Fund joins the FPA Crescent Fund and FPA New Income Inc., already among the 500. In adding the Fund, Morningstar Editor Russ Kinnel notes:

 “FPA International Value was upgraded to Bronze as we have gained confidence in manager Pierre Py, who worked as an analyst at Oakmark International (OAKIX) prior to joining FPA. He has so far made a little more use of small and mid-caps as well as growth names than David Herro does at Oakmark. Still, the basic idea is to find a focused portfolio of stocks that are trading at large discounts to Py’s estimate of intrinsic value.

Our growing confidence comes from the fact that the three-person analyst team has stabilized after some turnover early in Py’s tenure. Performance has also improved in recent years. The Fund has a small $236 million asset base, and expenses are merely average at 1.29%.”

Note: A Morningstar subscription is needed to access this article. 

©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted by Morningstar to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar, Inc. has not granted consent for it to be considered or deemed an “expert” under the Securities Act of 1933.

Please note that any references in this article to specific securities are being provided as a means of illustrating our investment thesis and should not be construed as a recommendation by the strategy, 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 examples discussed. Past performance is no guarantee, nor is it indicative, of future results. Certain information in this article reflects the opinions of the portfolio managers of the Contrarian Value investment team as of the date provided and are subject to change.

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