FPA flexible fixed income fund signals adding duration as 7-year Treasury yields reach 5.19%

What happened: FPA Flexible Fixed Income Fund portfolio manager Abhijeet Patwardhan described the fund's strategy as security-selection driven rather than index- or macro-driven, and the fund signaled adding duration as 7-year Treasury yields reached 5.19%. Key numbers: 7-year Treasury yields at 5.19%. Why it matters: The manager stated the fund does not invest based on macro or relative value views, so positioning changes are presented as security selection rather than macro calls.

FPA Flexible Fixed Income Fund portfolio manager Abhijeet Patwardhan described the fund's strategy as security-selection driven rather than index- or macro-driven, and the fund signaled adding duration as 7-year Treasury yields reached 5.19%.

The manager stated the fund does not invest based on macro or relative value views, so positioning changes are presented as security selection rather than macro calls.