A Southland fund firm is making a $10.4-billion-AUM
, four-star, bronze-rated, short-term bond mutual fund more accessible again.
| Abhijeet V. "Abhi" Patwardhan|
First Pacific Advisors, LP
Partner, Portfolio Manager
Today, the team at First Pacific Advisors, LP (FPA
]) is reopening FPA New Income, Inc.
to new investors. The fund accounted for about 39 percent of Los Angeles-based FPA's $28 billion in AUM as of March 31.
FPA's move comes almost two years after they soft-closed
the fund back in the summer of 2020 (while keeping it open to existing investors). The fund had $7.8 billion in AUM at the time, so the fund has grown by 33 percent since then.
FPA New Income, which launched in 1984, is PMed by Thomas Atteberry
and Abhi Patwardhan
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