FPA Crescent Fund (FPACX)

Find FPA Crescent Fund (FPACX) review. This mutual fund is one of the best moderate allocation balanced mutual funds.

If you want to have a set and forget it fund, you should select a balanced fund. Balanced funds, also known as diversified funds, are very popular among long- and short-term investors. These funds are also known as hybrid funds and are useful for asset diversification.  The fund can invest in any assets such as fixed income or bonds and stocks or equities. The next fund will be a 5 stars fund by First Pacific Advisors, FPA Crescent. The asset allocation can differ from one fund to the other funds.

FPA Crescent (FPACX)

FPA Crescent investment is seeking to provide a total return by combining income and capital appreciation with reasonable investment risk. The major investment is in equity, debt securities as well as cash and cash equivalents. Half of the net assets are invested in foreign securities, and the other half in debt securities. This fund may invest in debt securities issued by corporations and the US government as well as its agencies, mortgage-backed and asset-backed securities, municipal notes and bonds, commercial paper and certificates of deposit.

FPACX Profile

• Fund Inception Date: June 1993
• Ticker Symbol: FPACX
• CUSIP: 30254T759
• Beta (3yr):  0.89
• Rank in Category: 18 (ytd)
• Category: Moderate Allocation
• Type: Balanced Fund
• Distribution / Yield: 0.82%
• Capital Gains: N/A
• Numbers of Years Up: 15
• Numbers of Years Down: 2

updated on 11/3/2011

As part of First Pacific Advisors fund, FPA Crescent fund has a positive performance with an overall of 15 years up performance and only 2 years in down condition. This fund has experienced the worst 1-year total return in 2008 with -20.55% and best 1-year total return in 2001 as much as 36.14%. This fund has given the 12.22% in one year performance and 11.17% in 10-year performance. With the 5-star rating (i.e. highest rating) from Morningstar, this FPACX has a 4.44% of year-to-date return. It also has a gold rating.

This moderate allocation hybrid fund has been managed by the senior vice president in FPA, Steven Romick since June 1993. The minimum initial investment needed to invest in the brokerage account in FPACX is $1,500 with the subsequent $100 investment. Should you interest in IRA account, the initial investment is much lower ($100) with the same amount of subsequent investment ($100). This FPACX can be purchased from 76 brokerages, include Vanguard, Pershing FundCenter, Ameriprise Brokerage, JP Morgan, Schwab Retail, Merrill Lynch, Raymond James, Royal Alliance, etc.

• Year 2017: 4.48% (YTD)
• Year 2016: 10.25%
• Year 2015: -2.06%
• Year 2014: 6.64%
• Year 2013: 21.95%

With the total net assets of FDA Crescent fund as per March 31, 2011 of $6.033 billion, it consists of 59.95% of equities, 18.7% of cash & equivalents, and 14.37% of U.S. Government Agency. There are a total of 125 securities in the entire portfolio. The duration of this fund is 1.0% with 1.1% of maturity. The fund annual expense is 1.17%. This best balanced fund is part of no load mutual fund, this means there is no front end sales load and no deferred sales load. And there is no 12b1 fee as well.

The top 10 largest holdings of FPA Crescent fund as of March 31, 2011 are Aon, Ensco plc, CVS, Covidien, Occidental Petroleum, Wal-Mart Stores, Microsoft, Omnicare, CIT Group Bonds, and Pfizer. The portfolio composition as per the geographic breakdown is 58.9% in U.S., 19.6% in Europe and the remaining 2.9% in other countries. The top sectors are US Government Bonds & Agencies, Energy, Retailing, Health Care, Corporate bonds, Financial Services, Technology, Industrial Products, Telecommunications and Consumer Non-Durable Goods.

FPA Crescent Fund (FPACX) was part of Kiplinger 25 Best Funds before.

Disclosure: No Position

Other balanced fund article:

• FBR Balanced Fund (AFSAX)
• American Funds Capital Income Builder A (CAIBX)