At one end of the spectrum, we have an aging population without sufficient savings to match their longevity. At another end of the spectrum, we have vulnerable populations trapped in poverty where a lack of financial literacy—foundational elements like creating household budgets, opening bank accounts, and building credit—helps perpetuate the vicious cycle. These social problems are obviously multi-faceted and financial literacy alone won’t solve them. However, financial literacy has an important role to play in alleviating these social problems that will require both policy intervention and support from the non-profit and private sectors. Given the principles that guide us as a global asset manager, promoting financial literacy is more than a pledge. It’s an obligation.

 

Through the First Eagle Investments Foundation, we support organizations that focus on improving financial literacy—particularly among underrecognized groups—as well as educating, empowering and developing the next generation of diverse leaders in our industry. In addition, colleagues from various First Eagle companies volunteer their time to support this important cause, which include volunteer hours with nonprofit partners and employee-led initiatives to identify and engage with organizations that promote financial literacy.