FPA New Income Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.9%
1 yr return
6.6%
3 Yr Avg Return
1.8%
5 Yr Avg Return
2.3%
Net Assets
$8.5 B
Holdings in Top 10
16.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.59%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 81.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FPNIX - Profile
Distributions
- YTD Total Return 0.9%
- 3 Yr Annualized Total Return 1.8%
- 5 Yr Annualized Total Return 2.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.28%
- Dividend Yield 4.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFPA New Income Fund
-
Fund Family NameInvestment Managers Series Trust III
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerThomas Atteberry
Fund Description
The Fund primarily invests in a diversified portfolio of debt securities, cash and cash equivalents. The Fund generally invests in highly rated debt securities and invests at least 75% of its total assets, calculated at market value at the time of purchase, in debt securities rated at least A- or its equivalent by a nationally recognized statistical rating organization ("NRSRO") and in cash equivalent securities.
Under normal circumstances, the Fund invests primarily in the following debt securities, among others:
° Corporate bonds, municipal bonds, bank loans, bonds issued by governments and their agencies and instrumentalities, mortgage-backed pools, sovereign debt, and obligations of supra-national agencies, including international development institutions that provide global financing and advisory services for economic development.
° Structured investments, commercial mortgage-backed securities, residential mortgage-backed securities, collateralized mortgage obligations, asset-backed securities, collateralized loan obligations, collateralized debt obligations and structured notes. The Fund may invest a significant portion of its portfolio in these investments.
° Cash equivalent securities, which may include publicly traded securities issued by the U.S. government or agencies of the U.S. government, money market funds, certificates of deposit, commercial paper, repurchase agreements, bankers' acceptances and other similar short-term bonds.
The Fund may invest up to 25% of its total assets, calculated at market value at the time of purchase, in debt securities that are rated below A- or its equivalent by an NRSRO, which may include securities that are in default, or that are unrated.
The Fund may also invest up to 25% of its total assets, calculated at market value at the time of purchase, in securities of non-U.S. governments and corporations, non-U.S. structured investments or in securities that are not denominated in U.S. dollars; and up to 15% of its total assets, calculated at market value at the time of purchase, in stripped mortgage securities (such as interest-only and principal-only classes of collateralized mortgage obligations), collateralized mortgage obligations structured as accrual certificates, also known as Z-Bonds, and inverse floating rate debt instruments.
The Fund may also invest up to 5% of its total assets, calculated at market value at the time of purchase, in preferred stocks.
The Fund may hold investments in common stocks and rights to purchase common stocks. Such investments are typically received as a result of a conversion, corporate restructuring or recapitalization. Further, common stocks may be purchased as a result of exercising such rights, or purchased to increase an existing investment in common stocks. The Fund may also hold investments in privately placed securities.
The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis. The Fund may also invest in currency forwards, swaps and other certain currency derivatives, in each case for hedging purposes only.
FPNIX - Performance
Return Ranking - Trailing
Period | FPNIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -1.8% | 9.2% | 39.60% |
1 Yr | 6.6% | -0.2% | 24.4% | 11.41% |
3 Yr | 1.8%* | -5.9% | 4.1% | 5.76% |
5 Yr | 2.3%* | -3.8% | 4.4% | 14.48% |
10 Yr | 2.0%* | -19.2% | 169.7% | 15.32% |
* Annualized
Return Ranking - Calendar
Period | FPNIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.2% | -5.4% | 7.6% | 9.07% |
2022 | -5.1% | -17.7% | -2.6% | 8.13% |
2021 | -0.4% | -4.0% | 4.4% | 7.06% |
2020 | 0.3% | -8.3% | 7.6% | 87.70% |
2019 | 1.1% | -2.3% | 9.3% | 91.13% |
Total Return Ranking - Trailing
Period | FPNIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -1.8% | 9.2% | 39.60% |
1 Yr | 6.6% | -0.2% | 24.4% | 11.41% |
3 Yr | 1.8%* | -5.9% | 4.1% | 5.76% |
5 Yr | 2.3%* | -3.8% | 4.4% | 14.48% |
10 Yr | 2.0%* | -19.2% | 169.7% | 15.32% |
* Annualized
Total Return Ranking - Calendar
Period | FPNIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.5% | -1.1% | 15.2% | 7.44% |
2022 | -3.1% | -17.3% | -1.3% | 7.02% |
2021 | 0.8% | -2.7% | 7.7% | 24.62% |
2020 | 2.6% | -4.4% | 14.5% | 92.19% |
2019 | 3.8% | 0.6% | 12.6% | 81.25% |
NAV & Total Return History
FPNIX - Holdings
Concentration Analysis
FPNIX | Category Low | Category High | FPNIX % Rank | |
---|---|---|---|---|
Net Assets | 8.5 B | 14.1 K | 58.8 B | 13.82% |
Number of Holdings | 315 | 2 | 9721 | 59.43% |
Net Assets in Top 10 | 1.32 B | 1.16 M | 6.6 B | 20.47% |
Weighting of Top 10 | 16.00% | 1.8% | 108.7% | 74.33% |
Top 10 Holdings
- United States Treasury Note 3.56%
- United States Treasury Bill 2.66%
- Fortress Credit Opportunities IX CLO Ltd. 1.44%
- United States Treasury Note 1.35%
- PFS Financing Corp. 1.24%
- Fannie Mae Pool 1.23%
- Fannie Mae Pool 1.18%
- Freddie Mac Pool 1.18%
- Fannie Mae Pool 1.09%
- Golub Capital Partners ABS Funding 2021-2 Ltd. 1.06%
Asset Allocation
Weighting | Return Low | Return High | FPNIX % Rank | |
---|---|---|---|---|
Bonds | 59.51% | 0.00% | 130.68% | 89.59% |
Other | 37.57% | -0.97% | 72.36% | 2.69% |
Cash | 1.23% | -20.59% | 62.18% | 66.25% |
Stocks | 0.99% | 0.00% | 103.64% | 13.64% |
Preferred Stocks | 0.00% | 0.00% | 21.82% | 37.34% |
Convertible Bonds | 0.00% | 0.00% | 27.71% | 95.50% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FPNIX % Rank | |
---|---|---|---|---|
Energy | 57.52% | 0.00% | 100.00% | 34.38% |
Financial Services | 42.48% | 0.00% | 100.00% | 20.31% |
Utilities | 0.00% | 0.00% | 81.48% | 54.69% |
Technology | 0.00% | 0.00% | 24.45% | 50.00% |
Real Estate | 0.00% | 0.00% | 8.31% | 54.69% |
Industrials | 0.00% | 0.00% | 100.00% | 57.81% |
Healthcare | 0.00% | 0.00% | 23.11% | 50.00% |
Communication Services | 0.00% | 0.00% | 65.64% | 62.50% |
Consumer Defense | 0.00% | 0.00% | 21.37% | 48.44% |
Consumer Cyclical | 0.00% | 0.00% | 10.75% | 48.44% |
Basic Materials | 0.00% | 0.00% | 22.71% | 48.44% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FPNIX % Rank | |
---|---|---|---|---|
US | 0.99% | 0.00% | 103.64% | 13.64% |
Non US | 0.00% | 0.00% | 0.02% | 28.37% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FPNIX % Rank | |
---|---|---|---|---|
Securitized | 83.36% | 0.00% | 97.27% | 1.26% |
Government | 9.66% | 0.00% | 73.63% | 68.35% |
Corporate | 4.38% | 0.00% | 100.00% | 98.56% |
Cash & Equivalents | 0.64% | 0.00% | 62.18% | 65.17% |
Derivative | 0.00% | -0.55% | 24.84% | 56.73% |
Municipal | 0.00% | 0.00% | 17.46% | 66.91% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FPNIX % Rank | |
---|---|---|---|---|
US | 59.51% | 0.00% | 130.68% | 88.51% |
Non US | 0.00% | 0.00% | 83.16% | 42.55% |
FPNIX - Expenses
Operational Fees
FPNIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.59% | 0.01% | 3.24% | 60.51% |
Management Fee | 0.50% | 0.00% | 1.19% | 86.54% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.01% | 0.01% | 0.50% | 0.44% |
Sales Fees
FPNIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | 55.23% |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
FPNIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 11.19% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FPNIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 81.00% | 2.00% | 500.00% | 54.62% |
FPNIX - Distributions
Dividend Yield Analysis
FPNIX | Category Low | Category High | FPNIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.09% | 0.00% | 10.34% | 27.47% |
Dividend Distribution Analysis
FPNIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FPNIX | Category Low | Category High | FPNIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.28% | -1.27% | 4.98% | 42.75% |
Capital Gain Distribution Analysis
FPNIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 27, 2024 | $0.033 | OrdinaryDividend |
Jan 25, 2024 | $0.026 | OrdinaryDividend |
Dec 19, 2023 | $0.036 | OrdinaryDividend |
Nov 29, 2023 | $0.036 | OrdinaryDividend |
Oct 30, 2023 | $0.036 | OrdinaryDividend |
Sep 28, 2023 | $0.047 | OrdinaryDividend |
Aug 31, 2023 | $0.035 | OrdinaryDividend |
Jul 27, 2023 | $0.033 | OrdinaryDividend |
Jun 29, 2023 | $0.031 | OrdinaryDividend |
May 30, 2023 | $0.030 | OrdinaryDividend |
Apr 27, 2023 | $0.030 | OrdinaryDividend |
Mar 30, 2023 | $0.027 | OrdinaryDividend |
Feb 27, 2023 | $0.026 | OrdinaryDividend |
Jan 30, 2023 | $0.027 | OrdinaryDividend |
Dec 20, 2022 | $0.027 | OrdinaryDividend |
Nov 29, 2022 | $0.026 | OrdinaryDividend |
Oct 27, 2022 | $0.024 | OrdinaryDividend |
Sep 29, 2022 | $0.022 | OrdinaryDividend |
Aug 30, 2022 | $0.020 | OrdinaryDividend |
Jul 28, 2022 | $0.016 | OrdinaryDividend |
Jun 29, 2022 | $0.015 | OrdinaryDividend |
May 26, 2022 | $0.013 | OrdinaryDividend |
Apr 29, 2022 | $0.011 | OrdinaryDividend |
Mar 30, 2022 | $0.009 | OrdinaryDividend |
Feb 24, 2022 | $0.007 | OrdinaryDividend |
Jan 27, 2022 | $0.011 | OrdinaryDividend |
Dec 20, 2021 | $0.016 | OrdinaryDividend |
Nov 29, 2021 | $0.007 | OrdinaryDividend |
Oct 28, 2021 | $0.007 | OrdinaryDividend |
Sep 29, 2021 | $0.007 | OrdinaryDividend |
Aug 30, 2021 | $0.008 | OrdinaryDividend |
Jul 29, 2021 | $0.010 | OrdinaryDividend |
Jun 29, 2021 | $0.009 | OrdinaryDividend |
May 27, 2021 | $0.011 | OrdinaryDividend |
Apr 29, 2021 | $0.009 | OrdinaryDividend |
Mar 30, 2021 | $0.010 | OrdinaryDividend |
Feb 25, 2021 | $0.014 | OrdinaryDividend |
Jan 28, 2021 | $0.014 | OrdinaryDividend |
Dec 18, 2020 | $0.014 | OrdinaryDividend |
Nov 30, 2020 | $0.015 | OrdinaryDividend |
Oct 30, 2020 | $0.022 | OrdinaryDividend |
Sep 29, 2020 | $0.017 | OrdinaryDividend |
Aug 28, 2020 | $0.017 | OrdinaryDividend |
Jul 30, 2020 | $0.018 | OrdinaryDividend |
Jun 29, 2020 | $0.017 | OrdinaryDividend |
May 29, 2020 | $0.021 | OrdinaryDividend |
Apr 29, 2020 | $0.021 | OrdinaryDividend |
Mar 30, 2020 | $0.021 | OrdinaryDividend |
Feb 27, 2020 | $0.021 | OrdinaryDividend |
Jan 30, 2020 | $0.021 | OrdinaryDividend |
Dec 18, 2019 | $0.022 | OrdinaryDividend |
Nov 27, 2019 | $0.021 | OrdinaryDividend |
Oct 30, 2019 | $0.021 | OrdinaryDividend |
Sep 30, 2019 | $0.021 | OrdinaryDividend |
Aug 29, 2019 | $0.021 | OrdinaryDividend |
Jul 30, 2019 | $0.021 | OrdinaryDividend |
Jun 27, 2019 | $0.021 | OrdinaryDividend |
May 30, 2019 | $0.021 | OrdinaryDividend |
Apr 29, 2019 | $0.020 | OrdinaryDividend |
Mar 28, 2019 | $0.027 | OrdinaryDividend |
Feb 27, 2019 | $0.020 | OrdinaryDividend |
Jan 30, 2019 | $0.027 | OrdinaryDividend |
Dec 19, 2018 | $0.078 | OrdinaryDividend |
Jul 03, 2018 | $0.080 | OrdinaryDividend |
Apr 03, 2018 | $0.075 | OrdinaryDividend |
Dec 20, 2017 | $0.068 | OrdinaryDividend |
Oct 03, 2017 | $0.075 | OrdinaryDividend |
Jul 05, 2017 | $0.070 | OrdinaryDividend |
Apr 04, 2017 | $0.070 | OrdinaryDividend |
Dec 21, 2016 | $0.065 | OrdinaryDividend |
Oct 04, 2016 | $0.060 | OrdinaryDividend |
Jul 05, 2016 | $0.055 | OrdinaryDividend |
Apr 04, 2016 | $0.050 | OrdinaryDividend |
Dec 22, 2015 | $0.036 | OrdinaryDividend |
Oct 02, 2015 | $0.030 | OrdinaryDividend |
Jul 02, 2015 | $0.050 | OrdinaryDividend |
Apr 02, 2015 | $0.070 | OrdinaryDividend |
Dec 23, 2014 | $0.075 | OrdinaryDividend |
Oct 02, 2014 | $0.050 | OrdinaryDividend |
Jul 02, 2014 | $0.080 | OrdinaryDividend |
Apr 02, 2014 | $0.080 | OrdinaryDividend |
Dec 19, 2013 | $0.080 | OrdinaryDividend |
Oct 02, 2013 | $0.120 | OrdinaryDividend |
Jul 02, 2013 | $0.090 | OrdinaryDividend |
Apr 02, 2013 | $0.080 | OrdinaryDividend |
Jan 03, 2013 | $0.070 | OrdinaryDividend |
Oct 02, 2012 | $0.080 | OrdinaryDividend |
Jul 03, 2012 | $0.080 | OrdinaryDividend |
Apr 03, 2012 | $0.080 | OrdinaryDividend |
Dec 21, 2011 | $0.100 | OrdinaryDividend |
Oct 07, 2011 | $0.110 | OrdinaryDividend |
Jul 07, 2011 | $0.120 | OrdinaryDividend |
Apr 06, 2011 | $0.110 | OrdinaryDividend |
Dec 17, 2010 | $0.130 | OrdinaryDividend |
Oct 06, 2010 | $0.105 | OrdinaryDividend |
Jul 07, 2010 | $0.090 | OrdinaryDividend |
Apr 06, 2010 | $0.090 | OrdinaryDividend |
Dec 18, 2009 | $0.095 | OrdinaryDividend |
Oct 06, 2009 | $0.090 | OrdinaryDividend |
Jul 07, 2009 | $0.090 | OrdinaryDividend |
Apr 06, 2009 | $0.080 | OrdinaryDividend |
Dec 19, 2008 | $0.125 | OrdinaryDividend |
Oct 06, 2008 | $0.110 | OrdinaryDividend |
Jul 07, 2008 | $0.110 | OrdinaryDividend |
Apr 04, 2008 | $0.110 | OrdinaryDividend |
Dec 21, 2007 | $0.140 | OrdinaryDividend |
Oct 04, 2007 | $0.130 | OrdinaryDividend |
Jul 06, 2007 | $0.140 | OrdinaryDividend |
Apr 05, 2007 | $0.130 | OrdinaryDividend |
Dec 22, 2006 | $0.110 | OrdinaryDividend |
Oct 05, 2006 | $0.150 | OrdinaryDividend |
Jul 07, 2006 | $0.160 | OrdinaryDividend |
Apr 06, 2006 | $0.080 | OrdinaryDividend |
Dec 23, 2005 | $0.180 | OrdinaryDividend |
Oct 06, 2005 | $0.120 | OrdinaryDividend |
Jul 07, 2005 | $0.120 | OrdinaryDividend |
Apr 06, 2005 | $0.090 | OrdinaryDividend |
Dec 23, 2004 | $0.100 | OrdinaryDividend |
Oct 06, 2004 | $0.090 | OrdinaryDividend |
Jul 07, 2004 | $0.110 | OrdinaryDividend |
Apr 06, 2004 | $0.090 | OrdinaryDividend |
Dec 29, 2003 | $0.130 | OrdinaryDividend |
Oct 07, 2003 | $0.100 | OrdinaryDividend |
Jul 09, 2003 | $0.140 | OrdinaryDividend |
Apr 07, 2003 | $0.120 | OrdinaryDividend |
Dec 27, 2002 | $0.160 | OrdinaryDividend |
Oct 07, 2002 | $0.140 | OrdinaryDividend |
Jul 09, 2002 | $0.130 | OrdinaryDividend |
Apr 05, 2002 | $0.110 | OrdinaryDividend |
Dec 27, 2001 | $0.660 | OrdinaryDividend |
Oct 05, 2001 | $0.140 | OrdinaryDividend |
Jul 09, 2001 | $0.180 | OrdinaryDividend |
Apr 06, 2001 | $0.160 | OrdinaryDividend |
Dec 28, 2000 | $0.200 | OrdinaryDividend |
Oct 06, 2000 | $0.190 | OrdinaryDividend |
Jul 10, 2000 | $0.210 | OrdinaryDividend |
Apr 07, 2000 | $0.170 | OrdinaryDividend |
Dec 29, 1999 | $0.180 | OrdinaryDividend |
Oct 07, 1999 | $0.170 | OrdinaryDividend |
Jul 08, 1999 | $0.190 | OrdinaryDividend |
Apr 08, 1999 | $0.170 | OrdinaryDividend |
Dec 29, 1998 | $0.180 | OrdinaryDividend |
Oct 07, 1998 | $0.170 | OrdinaryDividend |
Jul 08, 1998 | $0.160 | OrdinaryDividend |
Apr 07, 1998 | $0.160 | OrdinaryDividend |
Jan 07, 1998 | $0.170 | OrdinaryDividend |
Oct 07, 1997 | $0.170 | OrdinaryDividend |
Jul 15, 1997 | $0.170 | OrdinaryDividend |
Apr 15, 1997 | $0.170 | OrdinaryDividend |
Jan 06, 1997 | $0.170 | OrdinaryDividend |
Oct 15, 1996 | $0.170 | OrdinaryDividend |
Jul 15, 1996 | $0.170 | OrdinaryDividend |
Apr 15, 1996 | $0.170 | OrdinaryDividend |
Oct 15, 1995 | $0.160 | OrdinaryDividend |
Jul 15, 1995 | $0.170 | OrdinaryDividend |
Apr 15, 1995 | $0.170 | OrdinaryDividend |
Jan 09, 1995 | $0.170 | OrdinaryDividend |
Oct 15, 1994 | $0.180 | OrdinaryDividend |
Jul 15, 1994 | $0.180 | OrdinaryDividend |
Apr 15, 1994 | $0.170 | OrdinaryDividend |
Oct 15, 1993 | $0.170 | OrdinaryDividend |
Jul 15, 1993 | $0.170 | OrdinaryDividend |
Apr 15, 1993 | $0.170 | OrdinaryDividend |
Oct 15, 1992 | $0.180 | OrdinaryDividend |
Jul 15, 1992 | $0.190 | OrdinaryDividend |
Apr 15, 1992 | $0.180 | OrdinaryDividend |
Jan 10, 1992 | $0.295 | OrdinaryDividend |
Oct 15, 1991 | $0.220 | OrdinaryDividend |
Jul 15, 1991 | $0.210 | OrdinaryDividend |
Apr 15, 1991 | $0.220 | OrdinaryDividend |
Oct 15, 1990 | $0.210 | OrdinaryDividend |
Jul 15, 1990 | $0.180 | OrdinaryDividend |
Apr 15, 1990 | $0.200 | OrdinaryDividend |
FPNIX - Fund Manager Analysis
Managers
Thomas Atteberry
Start Date
Tenure
Tenure Rank
Nov 08, 2004
17.57
17.6%
Thomas H. Atteberry, CFA, Partner at FPA, joined the firm in 1997. Thomas is the CEO of FPA New Income and a manager of the Absolute Fixed Income Strategy. Prior to joining FPA, Tom served as Chief Fixed Income Strategist of Fifth Third Bank and Chief Investment Officer of Mercantile Bank in Joplin, MO. He received a Bachelor’s degree in Business Administration from Texas Christian University.
Abhijeet Patwardhan
Start Date
Tenure
Tenure Rank
Nov 17, 2015
6.54
6.5%
Abhijeet Patwardhan is a Partner (since January 2017) and a Director of Research (since April 2015) of First Pacific Advisors, LLC. Previously Mr. Patwardhan served as Managing Director of the Adviser from November 2015 to January 2017, Senior Vice President from January 2014 to November 2015 and as an analyst and Vice President from June 2010 to December 2013
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.13 | 2.41 |