Imagine a world where your investment choices are limitless, offering the freedom to invest in anything, anywhere, at any time. Mutual funds like FPA Crescent (FPACX) with $10.4 billion in assets thrive on this strategy. Over the past 12 months, the fund has seen annualized returns of 14.35%, showing consistent performance over the years.
Here’s a breakdown of what makes FPA Crescent stand out:
- FPA Crescent follows a go-anywhere investment strategy that allows it to trade in a diverse range of securities, including large-cap and small-cap stocks, foreign stocks, and high-yield bonds.
- The fund takes a contrarian approach, always on the lookout for undervalued securities trading below their intrinsic value.
- With a focus on absolute value and prudent risk management, FPA Crescent aims to compound capital at equity-like returns while avoiding permanent capital losses.
In a recent conversation with Mark Landecker, one of the fund’s co-managers, he shared insights into the fund’s investment philosophy and some of its preferred market themes:
- Consumer-product stocks, mid-cap stocks, and international investments are currently on FPA Crescent’s radar.
- The fund’s strategy is to remain agile in an ever-changing market, seeking value where others might not be looking.
- By diversifying across industries and markets, FPA Crescent aims to weather market fluctuations and generate stable returns.
When Landecker was asked about his top picks, he highlighted three stocks that piqued their interest:
- Heineken (HKHHY) – The global beer giant with a strong presence in emerging markets offers stability and growth potential.
- CarMax (KMX) – A leading used vehicle dealer known for its exceptional customer experience and data-driven approach to pricing.
- Vail Resorts (MTN) – A powerhouse in the ski industry, owning top-tier mountain resorts and a loyal customer base.
As the financial landscape evolves, FPA Crescent’s flexible approach and focus on intrinsic value continue to attract investors looking for stable returns with minimal risk. Embracing the mantra of ‘investing in anything, anywhere, anytime,’ the fund sets itself apart in the competitive world of mutual funds.
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