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Home > Financial Services > Stock Brokers > Fpa Fund Distributors, Inc.
Fpa Fund Distributors, Inc.
Fpa Fund Distributors, Inc is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
Fpa Fund Distributors is independently managed, subsidiary of Old Mutual (US) Holdings Inc. actually founded in 1953. FPA's small/mid-capitalization value equity style has been in place since 1984. This price-driven equity style attempts to exploit market inefficiencies among stocks of smaller companies.
The disciplined selection process is designed to minimize business risk by applying specific fundamental criteria that is strong balance sheets, free cashflow, and successful business strategy under capable management, and unique business characteristics, which may include proprietary technology or a dominant market position.
They believe that successful fixed-income investing derives from a disciplined selection of individual securities rather than from elaborate predictions of the future course of interest rates or inflation.
The investment strategy is based on a determination of the attractiveness of specific issues, sectors, or the bond market in general, through analysis of the level and characteristics of the yield curve in relation to the core inflation level.
Duration is generally held in a conservative 2- to 5-year band, due to their focus on preservation of capital. Other risk control tactics are applied to diversify individual security exposure, the portfolio holds 40 to 80 securities.
Their small/mid-cap quality approach does not rely on market or economic forecasts, but rather on the selection of individual businesses and a disciplined judgment of the relative attractiveness of the market valuation of these businesses.
They believe that owning high return-on-equity companies over the long term produces high shareholder returns and that a patient investor can take advantage of price opportunities or market inefficiencies to periodically acquire the securities of such companies at attractive prices. If the underlying stocks of these companies ultimately reflect or exceed the intrinsic worth of the investment, they can subsequently be sold, with proceeds deployed to more attractive positions.
Their goal is to limit downside exposure by minimizing business risk in the selection process and price risk in the purchase and sale of securities. Their philosophy emphasizes the selection of companies that reflect this limited business risk, and yet provide a strong basis for investment potential.
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