Fund Evaluator:

Fundamental Family Office Allocation Y Overview

Fundamental Family Office Allocation Y (FBBYX) is an actively managed Allocation Global Moderately Aggressive Allocation fund. First Foundation Advisors launched the fund in 1993.

The investment seeks maximum total return (total return includes both income and capital appreciation). The fund seeks to achieve its investment objective by investing primarily in a combination of U.S. and foreign (non-U.S.) equity and debt securities and cash. The fund's asset allocation process utilizes information from the fund's sub-adviser, First Foundation Advisors ("FFA" or the "Sub-Adviser"), to diversify holdings across these asset classes and to adjust the asset class weightings based on market and economic conditions.

About Fundamental Family Office Allocation Y (FBBYX)

There are 2 members of the management team with an average tenure of 7.54 years: Eric Speron (2015), Calvin Jones (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Fundamental Family Office Allocation Y has 67 securities in its portfolio. The top 10 holdings constitute 55.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fundamental Family Office Allocation Y is part of the Allocation global asset class and is within the Allocation fund group. Fundamental Family Office Allocation Y has 51.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 27.7%. There is 51.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 17.1% (17.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fundamental Family Office Allocation Y has 3.7% of the portfolio in cash.

Assets Under Management

The fund has $37 million in total assets, which is below the $1 billion average for the Global Moderately Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FBBYX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fundamental Family Office Allocation Y expense ratio is high compared to funds in the Global Moderately Aggressive Allocation category. Fundamental Family Office Allocation Y has an expense ratio of 1.07%, which is 7% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fundamental Family Office Allocation Y has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 32% for the Global Moderately Aggressive Allocation category.

Recently, in the month of July 2026, Fundamental Family Office Allocation Y returned -0.4%, which earned it a grade of C, as the Global Moderately Aggressive Allocation category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fundamental Family Office Allocation Y has a trailing yield of 3.95%, which is above the 1.98% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fundamental Family Office Allocation Y Grades

Year to date, the fund has returned -0.3%, 10.2 percentage points worse than the category, which translates into a grade of F. The fund has returned -0.3% over the past year (grade of F), 4.6% over the past three years (grade of F) and 7.2% per year over the past five years (grade of C) and 8.3% per year over the past 10 years (grade of D).

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