About FFIAX
FPA Flexible Fixed Income Fund Advisor Class is a nontraditional bond mutual fund designed to provide long-term total return with a focus on income, capital appreciation, and risk-sensitive capital preservation. The fund primarily invests at least 80% of its assets in a broadly diversified portfolio of debt instruments, including government, agency, and corporate bonds, as well as asset-backed and mortgage-backed securities. Notably, it has the flexibility to hold up to 75% of its portfolio in securities rated below 'A', allowing for exposure to both investment-grade and higher-yield opportunities.
A distinguishing characteristic of this fund is its unconstrained, absolute-return approach; rather than tracking a set benchmark, it targets positive returns over three-year periods and seeks five-year returns that exceed inflation by 200 basis points. This flexibility enables the fund’s managers to adjust credit quality, sector allocations, and duration based on prevailing market conditions, while maintaining a positive overall duration and a risk-conscious investment philosophy. The fund is managed by First Pacific Advisors and is recognized for its analytical rigor and experienced management team, serving investors who seek a flexible fixed income solution adaptable to changing market environments.
Fund Family FPA
Category Nontraditional Bond
Stock Exchange NASDAQ
Ticker Symbol FFIAX
Share Class Advisor Class
FFIAX had a total return of 5.51% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.63%.
