First Pacific Advisors, LP

First Pacific Advisors (FPA) provides investment advice using primarily value-oriented strategies. FPA offers services to registered investment companies, private funds, and separately managed institutional accounts. FPA considers each client's risk tolerance, time horizon, tax status, liquidity needs, and return objectives when managing separately managed accounts. FPA does not use a formal asset allocation model, but rather focuses on potential risk and reward compared with market opportunities. FPA does not participate in wrap fee programs.