LOS ANGELES--(BUSINESS WIRE)--FPA, a leading practitioner of value investing, today announced the formation of a new Global Value Strategy. From its launch on September 1, 2013, the Strategy will be overseen by Gregory A. Herr and Pierre O. Py. As part of the launch, the Board of Directors of FPA Paramount Fund, Inc. (FPRAX) has appointed this leadership team to manage the Fund under the new Strategy. Messrs. Herr and Py have been Co-Portfolio Managers of FPA Paramount Fund since May 2011 and September 2011, respectively. Gregory also serves as Co-Portfolio Manager of FPA’s Small/Mid-Cap Quality Strategy, and Pierre also serves as Portfolio Manager of FPA’s International Value Strategy.
“Greg and Pierre are talented and experienced investors, and we are confident in their ability to achieve the Strategy’s stated goals over the long term.”
The FPA Global Value Strategy will seek to provide above-average capital appreciation over the long term while attempting to minimize the risk of capital losses by investing in well-run, financially robust, high-quality businesses around the world, in both developed and emerging markets. Gregory and Pierre will employ a value investment philosophy that is consistent across FPA's strategies -- a focus on value, bottom-up analysis, and downside protection.
"We are excited about this new Strategy. We believe it also ensures FPA’s ability to continue to serve Paramount shareholders through the consistent application of our value-based philosophy," said Bob Rodriguez, FPA’s Chief Executive Officer and Managing Partner. "Greg and Pierre are talented and experienced investors, and we are confident in their ability to achieve the Strategy’s stated goals over the long term."
Jason Dempsey and Victor Liu, already members of the FPA International Value Strategy Team, will join the Global Value Strategy Team as Research Analysts.
Under the new leadership, current positions in FPA Paramount Fund will be sized down or sold over time, in order to redeploy capital into investment opportunities the Global Value Team finds most compelling. Some of these changes could occur over a short period of time and may likely result in the Fund paying significantly higher taxable distributions of capital gains than in prior years.
FPA is a leading practitioner of value investing. Providing a prudent place to invest, the firm focuses on generating superior returns over the long-term, coupled with capital preservation. FPA fosters a culture that promotes high ethical standards.
Located in Los Angeles, California, FPA is independently owned, with 28 investment professionals and 72 employees in total. Currently, FPA manages $24 billion across four equity strategies and one fixed income strategy.
FPA's equity and fixed income styles are linked by a common fundamental value orientation. Our goal is to provide a consistent, risk-averse and disciplined approach to long-term investing in individual securities with the objective of achieving superior total returns for client portfolios.
You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before you invest. The Prospectus details the Fund's objective and policies, sales charges, and other matters of interest to the prospective investor. Please read this Prospectus carefully before investing. The Prospectus may be obtained by visiting the website at www.fpafunds.com, by email at firstname.lastname@example.org, toll-free by calling 1-800-982-4372 or by contacting the Fund in writing.