FPA Small/Mid-Cap Absolute Value
Asset Class/Style: U.S. Equity Value
Seeks to exploit market inefficiencies among stocks of smaller companies.

FPA Small/Mid-Cap Quality Value
Asset Class/Style: U.S. Equity Value
Emphasizes the selection of individual businesses and a disciplined judgment of the relative attractiveness of their market valuations.

FPA Contrarian
Asset Class/Style: U.S. Equity Contrarian
Actively seeks value in all parts of a company's capital structure, including common and preferred stocks, as well as corporate and convertible bonds.

FPA Core-Plus Fixed Income
Asset Class/Style: U.S. Fixed Income Active
Entails the prudent maximization of total return through a cautious, low-risk emphasis on short to intermediate maturities and very high quality.