FPA Crescent Fund Q3 2019 Commentary
- The Fund seeks to generate equity-like returns over the long term, take less risk than the market and avoid permanent impairment of capital. We invest across capital structure, geographies, sectors.
- FPA Crescent Fund, or the Fund, returned -0.81% in the third quarter and 13.56% over the first nine months of 2019.
- Long equities held by the Fund returned -1.33% and 19.47% in the third quarter and year-to-date, respectively.
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