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
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol FFIAX
Share Class Advisor Class
FFIAX had a total return of 2.42% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.35%.
