Morningstar

FPA New Income - Institutional FPNIX

Morningstar Medalist Rating
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  • NAV / 1-Day Return$9.83  /  −0.10%
  • Fund Size$11.6B
  • Adjusted Expense Ratio0.450%
  • Net Expense Ratio0.450%
  • Fee Level: DistributionAverage
  • Share Class TypeNo Load
  • Morningstar CategoryShort-Term Bond
  • Fixed-Income Style Box (Funds)High/Limited
  • Minimum Initial Investment$1,500
  • Investment StatusOpen
  • TTM Yield4.32%
  • Average Effective Duration3.26 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis FPNIX

Will FPNIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FPNIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FPNIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FPNIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Strategic guardrails keep this strategy from overextending itself.

Senior Principal Eric Jacobson

Eric Jacobson

Senior Principal

Summary

FPA New Income’s approach is deceptively simple.

by Eric Jacobson
Rated on Published on

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Portfolio Holdings FPNIX

More FPNIX Holdings
  • Current Portfolio Date
  • Equity Holdings—
  • Bond Holdings—
  • Other Holdings—
  • % Assets in Top 10 Holdings35.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Notes 0.08981%

8.981B
Government

United States Treasury Notes 0.08436%

8.44963M
Government

United States Treasury Notes 0.05006%

5.01571M
Government

United States Treasury Notes 0.04262%

4.26486M
Government

United States Treasury Bills 0.02528%

2.53289M
Government

United States Treasury Bills 0.02044%

2.04233M
Government

United States Treasury Notes 0.02009%

2.01229M
Government

United States Treasury Notes 0.01835%

1.83209M
Government

United States Treasury Notes 0.01766%

1.77202M
Government

United States Treasury Bills 0.01357%

1.36155M
Government

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