Company Press Release

FPA Announces Gregory A. Herr as Portfolio Manager for FPA Perennial Fund and Source Capital

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LOS ANGELES--FPA announced that Gregory A. Herr has become a portfolio manager, joining existing managers Eric S. Ende and Steven R. Geist, of the Small Mid Cap Quality Strategy, including FPA Perennial Fund (FPPFX) and Source Capital Inc. (SOR). Mr. Herr has been with FPA since 2007 and has been a portfolio manager of the FPA Paramount Fund (FPRAX) since May, 2011.

“I am excited to have Greg join Steve and me as portfolio manager of the strategy” FPA's Small Mid Cap Quality Strategy seeks long-term capital growth by investing primarily in small and mid-cap stocks. The Perennial Fund’s primary investment objective is a high total investment return, including capital appreciation and income. Source Capital seeks maximum total return from both capital appreciation and investment income to the extent consistent with protection of invested capital. "I am excited to have Greg join Steve and me as portfolio manager of the strategy," said Eric Ende, FPA Partner. "Greg has been a valued member of the team for many years now and I look forward to his continued contribution in this new role."