The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, January 04, 2019|
35 Years Later, This Value Shops Launches Another
It's been 35 years since this boutique value investing shop last launched their first bond fund. And now they've launched their second, with a new share class twist.
FPFIX is FPA's first new fund in eight years. Word is that the FPA team doesn't have any other new funds in the pipeline for now.
The new fund is also a share-class first for FPA. The fund firm's six other U.S. open-end funds each use a single investor share class, with no loads and no 12b-1 fees. The new fund also comes in just one share class, again with no-load and no 12b-1s, but this time it's an institutional share class, with a $100,000 minimum investment. The fund is geared towards FAs and their clients who are specifically looking for institutional shares.
Compared to FPA's other fixed income fund, the new fund is designed to have a long-term perspective and to be able to take on more risk. The new fund falls into the non-traditional bond fund category, while the old one is a short-term bond fund. FPA partners Thomas Atteberry and Abhi Patwardhan PM both funds.
Editor's Note: A prior version of this story gave the wrong timing for the launch of the separate account version of FPA's new flexible fixed income strategy. The separate account version launched in November 2018.
Printed from: MFWire.com/story.asp?s=59147
Copyright 2019, InvestmentWires, Inc.
All Rights Reserved