FPA Launches Global Allocation ETF Combining Stocks and Bonds

First Pacific Advisors has launched the FPA Global Allocation ETF (FPAA), an actively managed multi-asset fund designed to balance global equity and fixed-income exposure. Operating primarily as a fund-of-funds, FPAA will invest in affiliated and third-party mutual funds and ETFs, while retaining flexibility to hold securities directly. The strategy generally allocates at least 50% to equities and at least 40% of equity exposure to non-U.S. markets. Using proprietary valuation and risk analysis, FPA will actively adjust allocations across asset classes, seeking attractive risk-adjusted returns through changing market environments.