Morningstar

FPA New Income - Investor FPNRX

Morningstar Medalist Rating
Medalist Rating as of | See FPA Investment Hub
  • NAV / 1-Day Return 10.04  /  +0.11 %
  • Total Assets 8.7 Bil
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level Average
  • Share Class Type No Load
  • Category Short-Term Bond
  • Credit Quality / Interest Rate Sensitivity High/Limited
  • Min. Initial Investment 1,500
  • Status Open
  • TTM Yield —
  • Effective Duration 3.21 years

USD | NAV as of Sep 27, 2024 | 1-Day Return as of Sep 27, 2024, 10:12 PM GMT+0

Morningstar’s Analysis FPNRX

Will FPNRX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FPNRX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FPNRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FPNRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A distinctive style continues to drive this strategy's appeal.

Director Eric Jacobson

Eric Jacobson

Director

Summary

FPA New Income’s approach can look stodgy in frothy markets but has made up for it by protecting investors when things go sour. We have raised its Process Pillar rating to High from Above Average.

by Eric Jacobson
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings FPNRX

More FPNRX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 14.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Bills

4.32 366.0 Mil
Government

United States Treasury Notes

3.14 265.8 Mil
Government

United States Treasury Notes

1.53 129.5 Mil
Government

Fnma Pass-Thru I

1.48 125.2 Mil
Securitized

Fortress Credit Investments IV Limited

1.40 118.8 Mil
Securitized

United States Treasury Notes

1.27 108.0 Mil
Government

United States Treasury Notes

1.12 94.8 Mil
Government

Federal National Mortgage Association

1.07 90.3 Mil
Securitized

Fnma Pass-Thru I

1.06 89.9 Mil
Securitized

GOLUB CAPITAL PARTNERS ABS FUNDING LLC

1.04 88.2 Mil
Securitized

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