The MYGA will deliver a competitive four-year rate and can be purchased through DPL as an IRA, Roth IRA, 403(b) rollover or non-qualified contract.
FPA Launches Flexible Fixed-Income Fund
Los Angeles-based First Pacific Advisors (FPA) has unveiled its first new bond fund since becoming advisor to FPA New Income in 1984. The company is releasing a product called the FPA Flexible Fixed Income Fund, targeted at fixed-income investors seeking to take advantage of high-yield credit cycles while also looking for risk-adjusted returns and capital preservation.
FPA partners Thomas Atteberry and Abhijeet Patwardhan will manage the Flexible Fixed Income Fund. Morningstar classifies it as a non-traditional bond fund, compared with FPA’s New Income, which is classified as a short-term bond fund. The new fund’s management fee is 0.50%, placing it in the least expensive quartile of the Morningstar Nontraditional Bond category.
New Income is the only fund in Morningstar’s short-term bond category to post positive returns in every calendar year since the product’s launch.
The new fund’s goal is to outperform inflation plus 200 basis points over a five-year period. Seventy-five percent of the fund can invest in instruments rated “BBB+” and below.