FPFRX – FPA Crescent Fund Investor Investment Strategy | Morningstar

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Strategy

The investment seeks to generate equity-like returns over the long-term, take less risk than the market and avoid permanent impairment of capital. To pursue the fund's investment objective, the fund's portfolio managers ("portfolio managers") invest in both equity and debt securities of companies. The fund's portfolio managers believe that this combination of securities broadens the universe of opportunities for the fund, offers additional diversification and helps to lower volatility. The portfolio managers invest primarily in equity securities and the balance of the fund's portfolio in debt securities, cash and cash equivalents.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FPACX	FPA Crescent Fund	No Load	Open			Jun 2, 1993	$7.75B	1.050%	High	$1,500	−$386.64M
FPFRX	FPA Crescent Fund Investor Class	No Load	Open			Apr 30, 2024	$46.39M	1.150%	High	$1,500	$8.32M
FPCSX	FPA Crescent Fund Supra Institutional Class	Institutional	Open			Sep 4, 2020	$4.69B	0.990%	High	$100M	$33.18M

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