7/1/2008 |
The FPA Funds Ex-Dividend July 1, 2008 |
|
Ex-Dividend July 1, 2008
Record Date June 30, 2008
Payable Date July 7, 2008
FPA Capital Fund:
Income $0.22
LT Gain $0.01
Total $0.23
FPA Crescent:
Income $0.21
LT Gain $0.23
Total $0.44
FPA New Income:
Income $0.11
FPA Perennial:
Income $0.04
ST Gain $0.06
LT Gain $0.23
Total $0.33
FPA Paramount:
NONE
|
5/21/2008 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: May 23, 2008
Payable Date: June 15, 2008
Preferred Stock Rate: $0.60 per share
Record Date: May 23, 2008
Payable Date: June 15, 2008
|
4/1/2008 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.11 Income
Ex Date: April 1, 2008
Record Date: March 31, 2008
Payable Date: April 4, 2008
|
2/4/2008 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: February 22, 2008
Payable Date: March 15, 2008
Preferred Stock Rate: $0.60 per share
Record Date: February 22, 2008
Payable Date: March 15, 2008
|
1/18/2008 |
Source Capital Federal Income Tax Information |
|
|
1/18/2008 |
IRS Form 1099 Notices |
|
The notice accompanying form 1099 has been mailed. You can also print the form from our web site at by clicking the link below. 2007 Tax Year Notice
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12/17/2007 |
The FPA Funds Ex-Dividend December 17, 2007 |
|
Ex Dividend December 17, 2007
Record Date December 14, 2007
Payable Date December 21, 2007
FPA Capital Fund:
Income $0.32
LT Cap Gains $2.97
Total Dividend $3.29
FPA Crescent:
Income $0.25
LT Cap Gains $1.57
Total Dividend $1.82
FPA New Income:
Income $0.14
FPA Paramount:
Income $0.01
FPA Perennial:
ST Cap Gains $0.25
LT Cap Gains $2.48
Total Dividend $2.73
|
11/12/2007 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: November 23, 2007
Payable Date: December 15, 2007
Preferred Stock Rate: $0.60 per share
Record Date: November 23, 2007
Payable Date: December 15, 2007
|
10/2/2007 |
FPA Crescent Fund Partial Re-Opening to New Investors |
|
FPA FUNDS TRUST’S FPA CRESCENT FUND
PARTIAL RE-OPENING TO NEW INVESTORS
LOS ANGELES, October 2, 2007 --- FPA Funds Trust’s FPA Crescent Fund (FPACX), a mutual fund with total net assets of approximately $1.4 billion, will re-open sales of its shares to new investor accounts opened and held directly at the Fund, effective October 2, 2007. Sales to new investors on current broker/dealer and trust trading platforms remain closed.
The Fund had closed to new sales on February 11, 2005, reflecting the belief of the Board and Steven Romick, FPA Crescent Fund’s President and Chief Investment Officer, that unrestrained growth in the Fund’s assets might impair investment flexibility, which would not be in the best interests of Fund shareholders. As we noted in our March 31, 2005 Shareholder Letter, our cash levels were a by-product of not finding investment opportunities at a time when the Fund had strong asset inflows. We said then that, “We aspire to something more than padding our pocketbooks. We hope to continue to provide the strong, risk-adjusted returns to which our shareholders have become accustomed.” The Fund has experienced some net redemptions beginning in April 2006, not a surprise given that the Fund has been closed to new investors. When a fund has net redemptions for an extended period of time it can create a significant distraction from the investment process by forcing the sale of certain investments prior to reaching their expected potential, increase transaction costs, and reduce its tax efficiency.
The Board and Mr. Romick feel that this partial re-opening may help to offset the net redemptions that occur as part of the typical lifecycle of the average fund shareholder. Mr. Romick also believes that more investment opportunities are beginning to meet the Fund’s strict value requirements and, further, that volatile markets may provide more opportunities in the future. Finally, it is the belief of Mr. Romick and the Fund’s investment adviser, First Pacific Advisors, LLC (FPA), that continued growth in Fund assets through mutual fund supermarket platforms, is too costly for FPA relative to the value of the services they provide.
FPA Crescent Fund seeks to provide a total return consistent with reasonable investment risk, through a combination of income and capital appreciation. The Fund commenced operations in 1993 and FPA became its investment adviser on March 1, 1996. FPA Crescent Fund will continue to accept additional investments from existing shareholders, to reinvest dividends and capital gain distributions with respect to shareholders who select such options, and to redeem shares at net asset value when requested by any shareholder.
|
10/1/2007 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.13 Income
Ex Date: October 1, 2007
Record Date: September 28, 2007
Payable Date: October 4, 2007
|
8/7/2007 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: August 24, 2007
Payable Date: September 15, 2007
Preferred Stock Rate: $0.60 per share
Record Date: August 24, 2007
Payable Date: September 15, 2007
|
7/2/2007 |
The FPA Funds Ex-Dividend July 2, 2007 |
|
Ex Dividend July 2, 2007
Record Date June 29, 2007
Payable Date July 6, 2007
FPA Capital Fund:
Income $0.35
ST Cap Gains $0.02
LT Cap Gains $1.02
Total Dividend $1.39
FPA Crescent:
Income $0.50
LT Cap Gains $0.59
Total Dividend $1.09
FPA New Income:
Income $0.14
FPA Paramount:
Income $0.10
FPA Perennial:
Income $0.16
ST Cap Gains $0.01
LT Cap Gains $0.01
Total Dividend $0.18
|
5/8/2007 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: May 25, 2007
Payable Date: June 15, 2007
Preferred Stock Rate: $0.60 per share
Record Date: May 25, 2007
Payable Date: June 15, 2007
|
4/2/2007 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.13 Income
Ex-Date: April 2, 2007
Record Date: March 30, 2007
Payable Date: April 5, 2007
|
2/5/2007 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: February 23, 2007
Payable Date: March 15, 2007
Preferred Stock Rate: $0.60 per share
Record Date: February 23, 2007
Payable Date: March 15, 2007
|
1/31/2007 |
Source Capital Federal Income Tax Information |
|
|
1/31/2007 |
IRS Form 1099 Notices |
|
The notice accompanying form 1099 has been mailed. You can also print the form from our web site at by clicking the link below. 2006 Tax Year Notice
|
12/18/2006 |
The FPA Funds Ex-Dividend December 18, 2006 |
|
Ex-Dividend 12/18/2006
Record 12/15/2006
Payable 12/22/2006
FPA Capital Fund:
Income $0.25
LT Cap Gains $2.01
FPA Crescent Fund:
Income $0.25
LT Cap Gains $1.05
FPA New Income:
Income $0.11
FPA Paramount Fund:
Income $0.07
FPA Perennial Fund:
Income $0.10
ST Cap Gains $0.01
LT Cap Gains $0.76
|
11/13/2006 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: November 24, 2006
Payable Date: December 15, 2006
Preferred Stock Rate: $0.60 per share
Record Date: November 24, 2006
Payable Date: Decmber 15, 2006
|
11/13/2006 |
Source Capital, Inc. Declares Special Yr-End Distribution |
|
Common Stock Rate: $0.74
Record Date: November 24, 2006
Payable Date: December 15, 2006
|
10/2/2006 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.15 Income
Ex-Date: October 2, 2006
Record Date: September 29, 2006
Payable Date: October 5, 2006
|
8/7/2006 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: August 25, 2006
Payable Date: September 15, 2006
Preferred Stock Rate: $0.60 per share
Record Date: August 25, 2006
Payable Date: September 15, 2006
|
7/3/2006 |
The FPA Funds Ex-Dividend July 3, 2006 |
|
Ex-Dividend 7/03/2006
Record Date 6/30/2006
Payable Date 7/07/2006
FPA Capital Fund:
Income $0.38
LT Cap Gains $1.10
FPA Crescent Fund:
Income $0.280
ST Cap Gains $0.005
LT Cap Gains $0.285
FPA New Income:
Income $0.16
FPA Paramount Fund:
Income $0.07
FPA Perennial Fund:
Income $0.15
ST Cap Gains $0.01
LT Cap Gains $0.11
|
5/1/2006 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: May 26, 2006
Payable Date: June 15, 2006
Preferred Stock Rate: $0.60 per share
Record Date: May 26, 2006
Payable Date: June 15, 2006
|
4/3/2006 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.08 Income
Ex-Date: April 3, 2006
Record Date: March 31, 2006
Payable Date: April 6, 2006
|
2/23/2006 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: February 24, 2006
Payable Date: March 15, 2006
Preferred Stock Rate: $0.60 per share
Record Date: February 24, 2006
Payable Date: March 15, 2006
|
1/16/2006 |
Source Capital Federal Income Tax Information |
|
|
1/12/2006 |
IRS Form 1099 Notices |
|
The notice accompanying form 1099 has been mailed. You can also print the form from our web site at by clicking the link below. 2005 Tax Year Notice
|
12/16/2005 |
The FPA Funds Ex-Dividend December 16, 2005 |
|
Ex-Dividend 12/16/2005
Record Date 12/15/2005
Payable Date 12/23/2005
FPA Capital Fund:
Income $0.17
LT Cap Gains $2.66
FPA Crescent Fund:
Income $0.18
ST Cap Gains $0.02
LT Cap Gains $0.57
FPA Perennial Fund:
Income $0.10
ST Cap Gains $0.20
LT Cap Gains $0.37
FPA New Income:
Income $0.18
FPA Paramount Fund:
Income $0.05
|
11/14/2005 |
Source Capital, Inc. Declares Special year-end Distribution |
|
Common Stock Rate: $1.47
Record Date: November 25, 2005
Payable Date: December 15, 2005
|
11/14/2005 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: November 25, 2005
Payable Date: December 15, 2005
Preferred Stock Rate: $0.60 per share
Record Date: November 25, 2005
Payable Date: December 15, 2005
|
10/3/2005 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.12 Income
Ex-Date: 10/03/2005
Record Date: 09/30/2005
Payable Date: 10/06/2005
|
8/1/2005 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: August 26, 2005
Payable Date: September 15, 2005
Preferred Stock Rate: $0.60
Record Date: August 26, 2005
Payable Date: September 15, 2005
|
7/1/2005 |
The FPA FUNDS EX-DIVIDEND JULY 1, 2005 |
|
EX-DATE: JULY 1, 2005
RECORD DATE: JUNE 30, 2005
PAYABLE DATE JULY 7, 2005
FPA CAPITAL FUND, INC.
INCOME: $.0.09
LT CAPITAL GAINS: $0.73
TOTAL: $0.82 PER SHARE
FPA CRESCENT FUND
INCOME: $0.15
FPA NEW INCOME, INC.
INCOME: $0.12
FPA PERENNIAL FUND, INC.
SHORT-TERM CAPITAL GAINS: $0.01
LONG-TERM CAPITAL GAINS: $0.06
TOTAL: $0.07 PER SHARE
FPA PARAMOUNT FUND, INC.
NO DIVIDEND
|
5/2/2005 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: May 27, 2005
Payable Date: June 15, 2005
Preferred Stock Rate: $0.60 per share
Record Date: May 27, 2005
Payable Date: June 15, 2005
|
4/1/2005 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.09 Income
Ex Date: April 1, 2005
Record Date: March 31, 2005
Payable Date: April 6, 2005
|
2/7/2005 |
FPA CRESCENT CLOSES TO NEW INVESTORS 2/11/05 |
|
|
2/7/2005 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: February 25, 2005
Payable Date: March 15, 2005
Preferred Stock Rate: $0.60 per share
Record Date: February 25, 2005
Payable Date: March 15, 2005
|
1/13/2005 |
IRS Form 1099 Notices |
|
The notice accompanying form 1099 has been mailed. You can also print the form from our web site at by clicking the link below. 2004 Tax Year Notice
|
12/16/2004 |
The FPA Funds Ex-Dividend December 16, 2004 |
|
Ex-Dividend: 12/16/2004
Record Date: 12/15/2004
Payable Date: 12/23/2004
FPA Capital Fund:
LT Cap Gains $0.77
FPA Crescent Fund:
Income $0.06
LT Cap Gains $0.07
Total $0.13
FPA New Income:
Income: $0.10
FPA Perennial:
ST Cap Gains $0.045
LT Cap Gains $0.255
Total $0.30
FPA Paramount:
No Dividend
|
11/8/2004 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: November 26, 2004
Payable Date: December 15, 2004
Preferred Stock Rate: $0.60 per share
Record Date: November 26, 2004
Payable Date: December 15, 2004
|
10/1/2004 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.09 Income
Ex-date: 10/01/2004
Record: 9/30/2004
Payable: 10/06/2004
|
8/2/2004 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record Date: August 27, 2004
Payable Date: September 15, 2004
Preferred Stock Rate: $0.60 per share
Record Date: August 27, 2004
Payable Date: September 15, 2004
|
7/1/2004 |
FPA Funds Ex-Dividend |
|
Record Date: June 30, 2004
Ex-Date: July 1, 2004
Payable Date: July 7, 2004
FPA Capital $0.71 Long-term gains
FPA New Income $0.11 Income
FPA Crescent $0.32
$0.30 Long-term gains, $0.02 Income
|
6/24/2004 |
FPA Capital Fund to close July 9, 2004 |
|
FPA Capital Fund, Inc. to close to new investors July 9, 2004.
|
5/3/2004 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $1.00 per share
Record date: May 28, 2004
Payable date: June 15, 2004
Preferred Stock Rate: $0.60 per share
Record date: May 28, 2004
Payable date: June 15, 2004
|
4/1/2004 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.09 Income
Ex-date: April 1, 2004
Record date: March 31, 2004
Payable date: April 6, 2004
|
2/24/2004 |
IRS Form 1099 Notices |
|
The notice accompanying form 1099 has been mailed. You can also print the form from our web site at by clicking the link below. 2003 Tax Year Notice
|
12/16/2003 |
The FPA Funds Ex-Dividend December 16, 2003 |
|
Ex-Dividend: 12/16/2003
Record Date: 12/15/2003
Payable Date: 12/29/2003
FPA Capital Fund:
Income $0.02
LT Cap Gains $0.33
Total $0.35
FPA Crescent Fund:
Income $0.08
FPA New Income:
Income $0.13
FPA Perennial Fund:
LT Cap Gains $1.07
FPA Paramount Fund:
No Dividend
|
11/10/2003 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $0.875 per share
Record date: November 21, 2003
Payable date: December 15, 2003
Preferred Stock Rate: $0.60 per share
Record date: November 21, 2003
Payable date: December 15, 2003
|
10/1/2003 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.10 per share from net investment income
Ex-date October 1, 2003
Record Date September 30, 2003
Payable Date October 7, 2003
|
9/26/2003 |
PROCEDURES FOR OPENING A NEW MUTUAL FUND ACCOUNT |
|
IMPORTANT INFORMATION ABOUT PROCEDURES
FOR OPENING A NEW MUTUAL FUND ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. We may close your account and redeem your shares if we are unable to verify your identity. Shares may be redeemed at net asset value on the date it is deemed information cannot be substantiated.
|
8/4/2003 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $0.875 per share
Record date August 22, 2003
Payable date September 15, 2003
Preferred Stock Rate: $0.60 per share
Record date August 22, 2003
Payable date September 15, 2003
|
7/1/2003 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.14 per share from net investment income
Ex-date July 1, 2003
Record date June 30, 2003
Payable date July 9, 2003
|
7/1/2003 |
FPA Crescent Fund Declares Dividend |
|
Rate: $0.07 per share from net investment income
Ex-date July 1, 2003
Record date June 30, 2003
Payable date July 9, 2003
|
5/5/2003 |
Source Capital, Inc. Declares Dividend |
|
Common Stock Rate: $0.875 per share
Record date May 23, 2003
Payable date June 15, 2003
Preferred Stock Rate: $0.60 per share
Record date May 23, 2003
Payable date June 15, 2003
|
4/1/2003 |
FPA New Income, Inc. Declares Dividend |
|
Rate: $0.12 per share from net investment income
Ex-date April 1, 2003
Record date March 31, 2003
Payable date April 7, 2003
|
11/22/2002 |
Robert L. Rodriguez was a keynote speaker at the Morningstar Conference this year in Chicago |
|
Click on the FPA Capital Fund Historical Commentary tab to read or download.
|
8/9/2002 |
Comments on Conseco Holdings |
|
Unfortunately, we have been wrong about our Conseco investment. The economic and regulatory climate has overwhelmed the company’s effort to gradually restructure its balance sheet. The company announced today that it is withholding interest payment on several bond issues due August 8 and 9 and invoking the 30-day grace period. The company further stated that it would be in discussions with various debt holders to take aggressive action that will result in a substantial change in the capital structure of the holding company.
The two operating subsidiaries of the company, insurance and finance, are both generating positive cash flows at this time. These business segments represent significant economic value that will be the subject of negotiation between the company and the various constituents in the capital structure. The result of these negotiations will likely impact all segments of the capital structure.
The current value of the debt securities in FPA New Income and FPA Capital fairly represent today’s lowered expectations, and imply little, if any, additional value that may result from a successful capital structure re-balancing.
It is very disappointing to have to communicate this type of negative news to shareholders of FPA Capital and FPA New Income. This type of investment failure has been quite infrequent over the years for both Funds. The extreme volatility and revaluation of the Conseco debt securities in FPA New Income are the primary reason for the FundÂ’s negative performance over the past week. FPA New Income continues to have a very high overall credit quality with an average Moody’s credit rating of AA2, with 57% of the portfolio invested in government-backed mortgages, government agency and Treasury bonds, and 23% invested in money-market securities.
It is our belief that the situation with Conseco, although extremely difficult, may improve. Should it improve it would potentially benefit both Funds. We appreciate the strong support that all of you have demonstrated over the years by your investment in FPA New Income and FPA Capital Fund. Thank you.
Sincerely,
Robert Rodriguez
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7/19/2002 |
FPA New Income, Inc. reaches $1 billion on June 11, 2002 |
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