Morningstar Nominates FPA Crescent Team for Allocation/Alternatives Fund Manager of the Year Award
A mix of conviction and caution has paid off for this 5-star fund.
Some managers have boosted their investment in their funds. I name names.
The FPA Crescent manager takes a pass on long-dated bonds and high yield, but found value in old-school tech firms.
Seeing few opportunities that meet their risk-reward criteria, the team at FPA Crescent --winner of Morningstar's 2013 Allocation Fund Manager of the Year award--is sticking to its discipline and letting cash build, says manager Steve Romick.
Vanguard launches international-bond fund, FPA Crescent picks up 2 new comanagers, and managers depart at GSAM, Buffalo, and BlackRock. Also, Matthews to close its Asia dividend fund, and Morgan Stanley set to launch a global quality stock fund.
A simple blended index can protect you better.
There are plenty of funds to like in our new allocation 50% to 70% equity Morningstar Category.
Safety and stability are the hallmarks of this Bronze-rated fund.