First Pacific Advisors (FPA) has the launched FPA Flexible Fixed Income Fund (FPFIX) the company’s first new bond fund since becoming adviser to FPA New Income, Inc (FPNIX) in 1984.
FPA New Income, Inc is the only fund in Morningstar’s Short-Term Bond category to post positive returns in every calendar year since 1984.
FPA partners Thomas Atteberry and Abhijeet (Abhi) Patwardhan manage both funds with the same investment philosophy, process and team.
“We believe the fund is attractive to fixed income investors who want an offering that has greater flexibility to take advantage of high-yield credit cycles while remaining focused on seeking attractive risk-adjusted returns and capital preservation. Our intent is to capitalise on our team’s experience investing across the credit quality, sector and maturity spectrum,” say portfolio managers Atteberry and Patwardhan.