Los Angeles, CA (January 15, 2014) – FPA is pleased to announce that Morningstar has selected FPA Crescent Fund managers Steven Romick, Mark Landecker, and Brian Selmo for their 2013 U.S. Allocation Fund Manager of the Year award.
“We appreciate Morningstar honoring the efforts of our entire team in our 21st year by awarding us the Manager of the Year award. It reinforces our value-oriented philosophy and disciplined research process.” said Steven Romick, managing partner at FPA and portfolio manager of the FPA Crescent Fund.
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This is the fourth time FPA portfolio managers have been named Morningstar Manager of the Year, putting FPA among three firms to have received this number of awards. In addition, Steven Romick was nominated for Morningstar’s Domestic-Stock Fund Manager of the Decade award in 2009.*
The FPA Crescent Fund (FPACX) seeks to generate equity-like returns over the long-term, take less risk than the market and avoid permanent impairment of capital.
Established in 1988, the Morningstar Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers’ funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning their interests with shareholders’. Nominated funds must be Morningstar Medalists—a fund that has garnered a Morningstar Analyst Rating™ of Gold, Silver, or Bronze. The Fund Manager of the Year award winners are chosen based on Morningstar’s proprietary research and in-depth qualitative evaluation by its fund analysts.
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.
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