About FPFIX
FPA Flexible Fixed Income Fund Institutional Class is an actively managed mutual fund focused on diversified fixed income investing. The fund’s primary objective is to generate a positive absolute return over time through current income and long-term capital appreciation, with a strong emphasis on capital preservation across market cycles. It employs a flexible, benchmark-agnostic approach that allows broad latitude across sectors, credit tiers, and securitized markets, while maintaining a positive portfolio duration. The strategy invests in U.S. Treasuries, agency mortgage-backed securities, asset-backed and structured credit, and selectively in corporates, with the ability to allocate meaningfully to BBB-and-below exposures when compensated for risk. Classified in the nontraditional bond category, the fund targets risk management through shorter effective duration and rigorous underwriting of underlying collateral in securitized assets. Its role in the market is to provide a defensively oriented core-plus fixed income allocation that seeks to dampen interest-rate sensitivity while pursuing attractive, risk-adjusted income across changing credit environments.
Fund Family FPA
Category Nontraditional Bond
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol FPFIX
Share Class Institutional Class
Index Bloomberg U.S. Universal TR
FPFIX had a total return of 5.15% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.77%.
