First Pacific Advisors, has eliminated the sales charge for its mutual funds effective April 1.
Previously structured as front-load mutual funds, the FPA Capital Fund, New Income Fund, Paramount Fund and Perennial Fund will be available for direct purchase by individual investors, according to the company.
Other no-load funds from FPA include the Crescent and International Value Fund.
Starting the second quarter of this year, shareholders will be able to exchange between all FPA funds without having to pay any sales charge or commissions.
“This change combined with our low $1,500 minimum removes costly barriers for smaller investors who choose to manage their own investments,” says Rich Atwood, chief operating officer and one of FPA's managing partners.
Located in Los Angeles, FPA manages $22 billion across four equity strategies and one income strategy.