QRSIX – FPA Queens Road Small Cap Value Instl Investment Strategy | Morningstar

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Strategy

The investment seeks long-term capital growth. The fund seeks to achieve its investment objective by investing primarily in the equity securities (common stocks, preferred stocks and convertible securities) of small capitalization U.S. companies. Under normal circumstances, it will invest at least 80% of its assets (for the purpose of this requirement, net assets include net assets plus any borrowings for investment purposes) in equity securities of companies with small market capitalization.

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
QRSVX	FPA Queens Road Small Cap Value Fund Investor Class	No Load	Open			Jun 13, 2002	$167.57M	0.940%	Below Average	$1,500	$19.46M
QRSAX	FPA Queens Road Small Cap Value Fund Advisor Class	No Load	Open			Nov 30, 2020	$66.06M	0.880%	Below Average	$1,500	$18.01M
QRSIX	FPA Queens Road Small Cap Value Fund Institutional Class	Institutional	Open			Nov 30, 2020	$1.11B	0.800%	Below Average	$100,000	$65.23M

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