April 8, 2013
Fortune Q&A with Steven Romick
Fortune's April 8 issue includes a Q&A with Steven Romick ("Talking to a bear at a market peak: Stocks aren't cheap, argues FPA's Steven Romick. He urges caution as the Dow continues to chalk up records, by Katie Benner). See the story by clicking here.
The views expressed in this story are those of the author at the time created. They do not necessarily reflect the views of the Fund, Advisor, or the Distributor. These views are subject to change at any time based on market and other conditions, and the Fund, Advisor, or the Distributor disclaims any responsibility to update such views. No forecasts can be guaranteed. These views may not be relied upon as investment advice or as indication of trading intent on behalf of any First Pacific Advisors portfolio or the Distributor and should not be construed as an offer to sell or a solicitation of an offer to buy securities or any product mentioned in this article.
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Investments in mutual funds carry risks and investors may lose principal value. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Certain funds may purchase foreign securities, including American Depository Receipts (ADRs) and other depository receipts, which are subject to interest rate, currency exchange rate, economic and political risks; this may be enhanced when investing in emerging markets. Small and mid-cap stocks involve greater risks and they can fluctuate in price more than larger company stocks. Groups of stocks, such as value and growth, go in and out of favor which may cause certain funds to underperform other equity funds.
The return of principal in a bond investment is not guaranteed. Bond investments have the same issuer, interest rate, inflation and credit risks that are associated with underlying bonds owned by the fund. Lower rated bonds, convertible securities and other types of debt obligations involve greater risks than higher rated bonds. Mortgage securities and collateralized mortgage obligations (CMOs) are subject to prepayment risk and the risk of default on the underlying mortgages or other assets; derivatives may increase volatility.
Portfolio composition will change due to ongoing management of the Fund. References to specific securities or sectors should not be construed as recommendations by the Fund, its Advisor or Distributor.
FPA Funds are distributed by UMB Distribution Services, LLC, 803 W. Michigan Street, Milwaukee, WI 53233.