FPA Capital Fund Inc. to close to new investors.LOS ANGELES--(BUSINESS WIRE)--May 18, 1995--FPA Capital Fund Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FPPTX), a growth mutual fund with total net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of approximately $272 million, will discontinue sales of its shares to new investors, effective the close of business on the date net assets reach $280 million, according to FPA 1. (hardware) FPA - floating-point accelerator. 2. (programming) FPA - Function Point Analysis. Fund Distributors Inc, national distributor of the FPA fund group. FPA Capital will continue to accept additional investments from existing shareholders, to reinvest dividends and capital gain distributions with respect to shareholders who elect such options, and to redeem shares at net asset value when requested by any shareholder. The policy to limit sales to new investors reflects the belief of Robert L. Rodriguez, Capital president and chief investment officer, that unrestrained growth in the Fund's net assets might impair investment flexibility, which would not be in the best interests of Fund shareholders. Rodriguez is also senior vice president of First Pacific Advisors Inc. (FPA), the Fund's investment adviser. FPA Capital seeks long-term capital growth. Current income is a factor, but a secondary consideration. The Fund commenced operations in 1968, and FPA became its investment adviser in July 1984. Rodriguez was named president in July 1988 and chief investment officer in July 1984. The other three mutual funds in the FPA fund group are FPA New Income Inc., FPA Paramount Fund Inc. and FPA Perennial Fund Inc. FPA Paramount is closed to new investors; however, FPA New Income and FPA Perennial have been continuously open for sales. FPA Fund Distributors and First Pacific Advisors are indirect wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of United Asset Management Corp. (NYSE NYSE See: New York Stock Exchange :UAM UAM Universidad Autónoma de Madrid (Spain) UAM Universidad Autonoma Metropolitana (México) UAM Uniwersytet im. ), a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed holding company principally engaged, through affiliated firms, in providing institutional investment management and acquiring institutional investment management firms. CONTACT: FPA Fund Distributors Inc., Los Angeles Lawrence P. McNeil/Daryl Ann Weber, 800/982-4372 |
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