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Home>FPA Crescent Fund Letter to Shareholders

FPA Crescent Fund Letter to Shareholders

Perspectives Content Submission

Tue, 24 May 2011

Dear Shareholders: Overview The optimists held sway in the first quarter of 2011 and ended the quarter on a good note, with the stock market having returned 5.9%.1 Crescent returned 4.4%, capturing 75% of the market’s return with risk exposure at just 58% of capital during the period.2We have provi

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