Value investing specialist FPA is launching a Global Value Strategy on 1 September, which will be overseen by Gregory A Herr and Pierre O Py.
As part of the launch, the board of directors of FPA Paramount Fund (FPRAX) has appointed the leadership team to manage the fund under the new strategy.
Herr and Py have been co-portfolio managers of FPA Paramount Fund since May 2011 and September 2011, respectively. Herr also serves as co-portfolio manager of FPA’s Small/Mid-Cap Quality Strategy, and Py also serves as portfolio manager of FPA’s International Value Strategy.
The FPA Global Value Strategy will seek to provide above-average capital appreciation over the long term while attempting to minimise the risk of capital losses by investing in well-run, financially robust, high-quality businesses around the world, in both developed and emerging markets. Herr and Py will employ a value investment philosophy that is consistent across FPA's strategies – a focus on value, bottom-up analysis, and downside protection.
"We are excited about this new strategy. We believe it also ensures FPA’s ability to continue to serve Paramount shareholders through the consistent application of our value-based philosophy," says Bob Rodriguez, FPA’s chief executive officer and managing partner. "Greg and Pierre are talented and experienced investors, and we are confident in their ability to achieve the strategy’s stated goals over the long term."
Jason Dempsey and Victor Liu, already members of the FPA international value strategy team, will join the global value strategy team as research analysts.