FPA Crescent Fund

Frequently Asked Questions About FPACX

What does FPACX invest in?

The FPA Crescent Fund's investment team strategically allocates capital across both company stocks (equity securities) and bonds (debt securities). The fund's managers maintain that this combined investment approach significantly broadens the universe of potential opportunities, enhances portfolio diversification, and aims to mitigate overall volatility. While the core of the portfolio is concentrated in equity holdings, the remaining assets are deployed into debt instruments, cash, and other highly liquid equivalents.

What is the expense ratio of FPACX?

FPA Crescent Fund (FPACX) charges an expense ratio of 1.06%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FPACX?

FPA Crescent Fund (FPACX) manages $12.36B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FPACX actively managed or an index fund?

FPACX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was FPACX launched?

FPA Crescent Fund (FPACX) launched in June 1993 and is managed by the fund issuer.

How has FPACX performed?

FPACX's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.