Tom Atteberry, who joined FPA in 1997 and has led FPA New Income since 2010, will step down from portfolio management responsibilities on July 1, 2022, and assume a senior advisor role at the firm. The long transition should allow Atteberry time to formally hand off his remaining responsibilities to his skilled comanager since 2015, Abhijeet Patwardhan, who also has been director of research since that year. He’s also run FPA Flexible Fixed Income FPFIX with Atteberry since 2018.
FPA New Income FPNIX
NAV / 1-Day Return
9.96
/
0.10
%
Total Assets
11.5 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.470%
Expense Ratio
0.470%
Fee Level
Average
Longest Manager Tenure
17.21
years
Category
Short-Term Bond
Credit Quality / Interest Rate Sensitivity
Medium / LimitedMin. Initial Investment
1,500
Status
Limited
TTM Yield
1.22%
Effective Duration
1.32
years
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will FPNIX 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 FPNIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FPNIX 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 FPNIX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Tom Atteberry Stepping Down in Mid-2022; Rating Unchanged
