FPA has launched the International Value Strategy portfolio, with plans to roll out a mutual fund version in the near future.
To run the portfolio, FPA has hired Pierre Py and Eric Bokota as vice presidents. They were previously research analysts at Harris Associates.
The fund seeks to achieve capital appreciation over the long term while minimizing losses, by taking an absolute value, bottom-up approach.
“We are excited about the additional of this international team that significantly broadens FPA’s investment reach outside the United States,” said Rich Atwood, a managing partner and chief operating officer at FPA. “Pierre and Eric are talented and experienced investors who join FPA as a team, having worked together at Harris Associates for over five years.