Characteristics

  • As of Sep 30, 2024

Investment Philosophy

The Global Fund’s philosophy reflects the teachings of Benjamin Graham and Warren Buffett: We believe there is a persistent market failure to recognize a company’s intrinsic value. The Fund attempts to exploit this failure on behalf of our investors through a bottom-up, fundamental investment approach.

  • Focus on Absolute Returns

    We attempt to avoid the permanent impairment of capital and generate long-term positive absolute returns across market cycles.

  • Flexible, Benchmark-Agnostic Approach

    The Fund has the ability to invest across asset classes, regions, sectors/industries, market-capitalization ranges, and without regard to a benchmark.

  • Seeks To Provide Downside Mitigation

    Our attempts to avoid the permanent loss of capital result in a portfolio that has exposure to equities purchased with what we believe to be a “margin of safety” in price.

Characteristics

  • As of Sep 30, 2024

Our Process

The fundamental research process has remained constant since the inception of the Fund. The Fund looks for opportunities in companies that have temporarily disappointed investors; industries in turmoil or out of favor; and countries in economic downturns or overlooked by the market.

The investment process involves the following steps:

  • 01

    Analyze, Understand Business Models

    Thoroughly understand a company and the market in which it operates. Among other critical factors, the team’s document-driven analysis examines:

    • A company’s market share.
    • The nature of its products and its business contingencies

  • 02

    Recast Financial Statements

    Financial statements are recast because:

    • Conservative accounting practices can mask the true earnings power of a company
    • In our view, accounting practices are sometimes too liberal

    Our goal is to uncover a company’s true economic earnings using only demonstrated results.

  • 03

    Calculate Intrinsic Value

    The team places great emphasis on: 

    • Balance sheet valuation (such as Enterprise Value to Asset Replacement Value)
    • Cash flow valuation (such as EV/EBIT)

    Investments are made based on significant discounts to what is believed to be a company’s intrinsic value.

  • 04

    Typically Invest for the Long Term

    The team typically seeks a discount to what they believe is a company’s intrinsic value:

    • They seek further downside mitigation by determining a “margin of safety” in each holding
    • This “margin of safety” is viewed as a form of risk mitigation against uncertainty in a fundamentally unknowable future.

The Global Fund may also invest in non-equity securities in an attempt to help preserve purchasing power. These include:

  • Gold bullion
  • Corporate bonds (senior or subordinated bonds, convertible bonds)
  • Cash and cash equivalents (commercial paper)

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Sep 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  2. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

  7. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  8. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  9. Class R Shares are offered without sales charge.

  10. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

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  1. Definitions

  2. “Intrinsic value” is based on our judgment of what a prudent and rational business buyer would pay in cash for all of the company in normal markets.

  3. First Eagle defines "margin of safety" as the difference between a company's market price and our estimate of its intrinsic value. An investment made with a margin of safety is no guarantee against loss.

  4. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  5. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  6. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  7. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  8. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  9. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Show More Show Less

Focus on Absolute Returns Across Market Cycles

  1. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

Benchmark Agnostic Approach

First Eagle Fund
Show Benchmarks
Source: FactSet; data as of Sep 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

Consistent Approach Seeks to Provide a Better Investor Experience

Source: FactSet; data as of Dec 31, 2023.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

Seeking Solutions for Varying Portfolio Needs

 S&P 500 IndexBLENDED PORTFOLIOS&P 500 Index 90% / SGENX 10%BLENDED PORTFOLIOS&P 500 Index 80% / 20%SGENXBLENDED PORTFOLIOS&P 500 Index 70% / SGENX 30%BLENDED PORTFOLIOS&P 500 Index 60% / SGENX 40%BLENDED PORTFOLIOS&P 500 Index 50% / SGENX 50%BLENDED PORTFOLIOS&P 500 Index 40% / SGENX 60%BLENDED PORTFOLIOS&P 500 Index 30% / SGENX 70%BLENDED PORTFOLIOS&P 500 Index 20% / SGENX 80%BLENDED PORTFOLIOS&P 500 Index 10% / SGENX 90%SGENX
Cumulative Return16,167%16,608%17,002%17,346%17,637%17,871%18,048%18,165%18,221%18,216%18,149%
Max Drawdown-50.95%-49.26%-47.51%-45.72%-43.87%-41.97%-40.01%-38.00%-35.93%-34.11%-32.61%
$100K Beginning Investment$16,267K$16,708K$17,102K$17,446K$17,737K$17,971K$18,148K$18,265K$18,321K$18,316K$18,249K
Max Drawdown Recovery Time37 Months37 Months36 Months26 Months24 Months23 Months22 Months22 Months20 Months20 Months14 Months
Annualized Standard Deviation15.24%14.62%14.03%13.47%12.95%12.46%12.01%11.62%11.28%10.99%10.77%
Beta1.000.960.920.880.830.790.750.710.670.630.59
Alpha0.000.040.080.120.160.200.240.280.320.360.40
Sharpe Ratio0.510.530.560.590.610.640.660.690.710.730.74
Upside Capture100.00%96.62%93.24%89.88%86.53%83.19%79.87%76.55%73.25%69.96%66.68%
Downside Capture100.00%94.82%89.62%84.39%79.15%73.89%68.60%63.30%57.98%52.63%47.27%

January 1979 through December 2023

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

  7. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  8. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  9. Class R Shares are offered without sales charge.

  10. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. MSCI EAFE: The MSCI EAFE Index is an unmanaged total return index, reported in U.S. dollars, based on share prices and reinvested net dividends of companies from 21 countries and is not available for purchase.

  5. Standard & Poor's 500 Index: Standard & Poor's 500 Index is a widely recognized unmanaged index including a representative sample of 500 leading companies in leading sectors of the U.S. economy and is not available for purchase. Although the Standard & Poor's 500 Index focuses on the large-cap segment of the market, with approximately 80% coverage of U.S. equities, it is also considered a proxy for the total market.

  6. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  7. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Sep 30, 2024.

  1. This chart illustrates a hypothetical investment in Class A shares without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Date selected assumes purchase at month end.

  2. The average annual returns for Class C Shares reflect a CDSC (contingent deferred sales charge) of 1.00% in the year-to-date and first year only.

25 Year Risk vs. Return

SGENXMSCI World IndexMSCI EAFE IndexS&P 500 Index
Annualized Return (%)    9.85    6.14    4.49    7.67
Annualized Standard Deviation (%)   11.16   15.58   16.59   15.35
R-Square (%)   82.82  100.00   91.54   94.60
Beta    0.65    1.00    1.02    0.96
Alpha (annualized)    5.54    0.00   -1.74    1.92
Information Ratio (annualized)    0.51     NA    -0.39    0.48

Source: FactSet; data as of Sep 30, 2024.

Calendar Year Returns

YearClass A (SGENX)MSCI World Index
2023 12.80 23.79
2022 -6.48 -18.14
2021 12.24 21.82
2020 8.30 15.90
2019 20.17 27.67
2018 -8.51 -8.71
2017 13.49 22.40
2016 10.65 7.51
2015 -0.94 -0.87
2014 2.93 4.94
2013 15.49 26.68
2012 12.46 15.83
2011 -0.19 -5.54
2010 17.58 11.76
2009 22.91 29.99
2008 -21.06 -40.71
2007 9.90 9.04
2006 20.50 20.07
2005 14.91 9.49
2004 18.37 14.72
2003 37.64 33.11
2002 10.23 -19.89
2001 10.21 -16.82
2000 9.72 -13.18
1999 19.56 24.93
1998 -0.26 24.34
1997 8.54 15.76
1996 13.64 13.48
1995 15.24 20.72
1994 2.52 5.08
1993 26.15 22.50
1992 8.41 -5.23
1991 17.93 18.28
1990 -1.30 -17.02
1989 17.21 16.61
1988 14.15 23.29
1987 13.76 16.16
1986 25.02 41.89
1985 32.71 40.56
1984 2.86 4.72
1983 24.03 21.93
1982 31.56 9.71
1981 8.00 -4.79
1979 31.66 25.67

Source: FactSet; data as of Dec 31, 2023.

Average Annual Returns

TickerClassYTD %1 MO3 MO1 YR3 YR5 YR10 YRINCEPT %Expense Ratio
GrossNet
SGENX A w/out load  16.56%   0.53%   0.97%  20.41%   8.62%   8.98%   7.29%  12.38%   1.10% --
SGENX A w/load  10.74%  -4.49%  -4.07%  14.40%   6.78%   7.86%   6.74%  12.26%   1.10% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
SGENX A w/out load  18.28%   2.46%   9.88%  27.00%   9.01%   9.67%   7.58%  12.47%   1.10% --
SGENX A w/load  12.36%  -2.66%   4.39%  20.64%   7.16%   8.55%   7.03%  12.34%   1.10% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
FESGX C  14.76%  -0.54%  -0.21%  18.49%   7.79%   8.15%   6.48%   9.12%   1.86% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
FESGX C  16.62%   1.41%   8.69%  25.03%   8.18%   8.84%   6.77%   9.26%   1.86% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
SGIIX I  16.80%   0.54%   1.02%  20.68%   8.87%   9.24%   7.56%  10.09%   0.86% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
SGIIX I  18.49%   2.48%   9.96%  27.29%   9.27%   9.94%   7.85%  10.22%   0.86% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --
FEGRX R6  16.89%   0.56%   1.06%  20.79%   8.96%   9.32% --   8.02%   0.79% --
MSCI World Index (since inception based on A Shares)  21.85%   4.59%   4.39%  27.83%   8.79%  12.42%  10.06%   9.92%      --      --
FEGRX R6  18.55%   2.49%   9.97%  27.39%   9.35%  10.02% --   8.40%   0.79% --
MSCI World Index (since inception based on A Shares)  18.86%   1.83%   6.36%  32.43%   9.08%  13.04%  10.07%   9.89%      --      --

Source: FactSet; data as of Sep 30, 2024.

Source: FactSet; data as of Nov 30, 2024.

  1. The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact a Fund's short-term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available on the Prices & Performance page.

  1. Disclosures

  2. Global Fund Inception dates: A Shares 01/01/1979, C Shares 06/05/2000, I Shares 07/31/1998, R6 Shares 03/01/2017. Performance for periods prior to January 1, 2000 occurred while a prior portfolio manager of The Fund was affiliated with another firm. Inception date shown is when this prior portfolio manager assumed portfolio management responsibilities.

  3. The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.

  4. Returns for periods less than one year are not annualized.

  5. The average annual returns for Class A Shares “with sales charge” performance gives effect to the deduction of the maximum sales charge of 3.75% for periods prior to March 1, 2000 and of 5.00% thereafter.

  6. Performance information for Class I Shares is without the effect of sales charges and assumes all distributions have been reinvested and if a sales charge was included values would be lower. Had fees not been waived and/or expenses reimbursed, the performance would have been lower. Class A and C Shares have maximum sales charges of 5.00% and 1.00% respectively, and 12b-1 fees, which reduce performance.

  7. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  8. Class R Shares are offered without sales charge.

  9. The annual expense ratio is based on expenses incurred by The Fund, as stated in the most recent prospectus.

Show More Show Less

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  5. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  6. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  7. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Show More Show Less

Top Ten Holdings (%)

As of Nov 30, 2024

Gold Bullion Gold 11.43
Oracle Corporation United States 2.89
Meta Platforms Inc Class A United States 2.63
HCA Healthcare Inc United States 1.80
Comcast Corporation Class A United States 1.68
Philip Morris International Inc. United States 1.66
Elevance Health, Inc. United States 1.66
Schlumberger Limited United States 1.59
Willis Towers Watson Public Ltd. Co. United Kingdom 1.48
C.H. Robinson Worldwide, Inc. United States 1.45
Top Ten Holdings as a Percentage of Total Net Assets 16.85

Allocation by Sector (%)

Materials: 16.07%
Consumer Staples: 13.59%
Financials: 12.16%
Industrials: 10.40%
Health Care: 9.01%
Information Technology: 8.57%
Communication Services: 7.20%
Short-Term, Cash & Cash Equivalents: 7.13%
Consumer Discretionary: 6.51%
Energy: 6.21%
Real Estate: 3.16%
Source: FactSet; data as of Sep 30, 2024.
Materials 16.07%
Consumer Staples 13.59%
Financials 12.16%
Industrials 10.40%
Health Care 9.01%
Information Technology 8.57%
Communication Services 7.20%
Short-Term, Cash & Cash Equivalents 7.13%
Consumer Discretionary 6.51%
Energy 6.21%
Real Estate 3.16%
Materials 16.01%
Consumer Staples 12.64%
Financials 11.76%
Industrials 10.22%
Short-Term, Cash & Cash Equivalents 8.73%
Information Technology 8.66%
Health Care 8.26%
Communication Services 7.62%
Energy 6.79%
Consumer Discretionary 6.04%
Real Estate 2.95%
Government Bonds 0.21%
Utilities 0.10%
Materials 15.99%
Consumer Staples 12.97%
Financials 11.62%
Industrials 10.61%
Short-Term, Cash & Cash Equivalents 9.09%
Information Technology 8.15%
Health Care 7.50%
Communication Services 7.21%
Energy 7.19%
Consumer Discretionary 5.88%
Real Estate 3.06%
Government Bonds 0.56%
Utilities 0.15%
Materials 16.02%
Consumer Staples 13.26%
Financials 11.44%
Industrials 10.36%
Information Technology 8.49%
Communication Services 7.67%
Health Care 7.08%
Energy 6.84%
Consumer Discretionary 5.95%
Real Estate 3.63%
Government Bonds 0.70%
Utilities 0.23%
Materials 15.13%
Consumer Staples 13.09%
Financials 10.47%
Industrials 9.93%
Information Technology 8.39%
Energy 7.57%
Communication Services 7.37%
Health Care 6.37%
Consumer Discretionary 6.21%
Real Estate 3.44%
Government Bonds 0.76%
Utilities 0.23%
Materials 15.35%
Consumer Staples 13.24%
Short-Term, Cash & Cash Equivalents 11.43%
Industrials 10.52%
Financials 10.34%
Information Technology 9.20%
Health Care 6.83%
Consumer Discretionary 6.72%
Communication Services 6.20%
Energy 6.08%
Real Estate 3.08%
Government Bonds 0.75%
Utilities 0.26%
Materials 16.65%
Consumer Staples 13.27%
Financials 10.88%
Industrials 10.63%
Information Technology 8.93%
Consumer Discretionary 7.11%
Health Care 6.63%
Energy 6.48%
Communication Services 5.38%
Real Estate 3.33%
Government Bonds 0.88%
Utilities 0.38%
Gold Related Investments 15.02%
Consumer Staples 13.58%
Industrials 10.80%
Financials 9.83%
Technology 8.30%
Short-Term, Cash & Cash Equivalents 7.90%
Energy 7.16%
Consumer Discretionary 6.96%
Health Care 6.66%
Communication Services 4.34%
Real Estate 3.66%
Holding Companies 2.80%
Materials 1.39%
Government Bonds 1.08%
Utilities 0.51%
Gold Related Investments 14.84%
Consumer Staples 13.35%
Industrials 11.32%
Financials 10.58%
Technology 9.13%
Short-Term, Cash & Cash Equivalents 7.32%
Energy 7.07%
Consumer Discretionary 6.11%
Health Care 5.77%
Communication Services 4.66%
Real Estate 3.93%
Holding Companies 2.63%
Materials 1.65%
Government Bonds 1.14%
Utilities 0.49%
Gold Related Investments 14.84%
Consumer Staples 12.77%
Industrials 11.34%
Financials 10.25%
Technology 9.40%
Short-Term, Cash & Cash Equivalents 7.24%
Energy 6.43%
Health Care 6.27%
Consumer Discretionary 6.22%
Communication Services 5.06%
Real Estate 4.09%
Holding Companies 2.69%
Materials 1.59%
Government Bonds 1.29%
Utilities 0.53%
Gold Related Investments 15.16%
Consumer Staples 11.18%
Industrials 11.06%
Financials 10.64%
Technology 9.85%
Short-Term, Cash & Cash Equivalents 8.50%
Energy 6.44%
Health Care 6.03%
Communication Services 5.36%
Consumer Discretionary 5.28%
Real Estate 3.97%
Holding Companies 3.07%
Materials 1.77%
Government Bonds 1.24%
Utilities 0.44%
Gold Related Investments 14.08%
Consumer Staples 11.54%
Industrials 11.31%
Financials 11.19%
Technology 11.00%
Cash & Cash Equivalents 6.86%
Consumer Discretionary 6.36%
Health Care 6.03%
Communication Services 5.63%
Energy 4.77%
Real Estate 4.15%
Holding Companies 3.26%
Materials 1.93%
Government Bonds 1.31%
Utilities 0.57%

Allocation by Asset Class (%)

US Equity: 41.21%
International Equity: 30.41%
Gold Related Investments: 15.17%
Short-Term, Cash & Cash Equivalents: 7.13%
Emerging Markets Equity: 6.07%
Source: FactSet; data as of Sep 30, 2024.
US Equity 41.21%
International Equity 30.41%
Gold Related Investments 15.17%
Short-Term, Cash & Cash Equivalents 7.13%
Emerging Markets Equity 6.07%
US Equity 40.76%
International Equity 29.46%
Gold Related Investments 15.08%
Short-Term, Cash & Cash Equivalents 8.73%
Emerging Markets Equity 5.73%
International Fixed Income 0.21%
US Equity 39.82%
International Equity 29.36%
Gold Related Investments 14.98%
Short-Term, Cash & Cash Equivalents 9.09%
Emerging Markets Equity 6.18%
International Fixed Income 0.56%
US Stocks 40.05%
International Developed Stocks 29.67%
Gold Related Investments 14.93%
Short-Term, Cash & Cash Equivalents 8.31%
International Emerging Stocks 6.32%
International Currency Bonds 0.70%
US $ Bonds 0.01%
US Stocks 39.28%
International Developed Stocks 28.71%
Gold Related Investments 14.03%
Short-Term, Cash & Cash Equivalents 11.05%
International Emerging Stocks 6.16%
International Currency Bonds 0.76%
US $ Bonds 0.01%
US Stocks 38.04%
International Developed Stocks 29.23%
Gold Related Investments 14.28%
Short-Term, Cash & Cash Equivalents 11.43%
International Emerging Stocks 6.28%
International Currency Bonds 0.75%
US $ Bonds 0.01%
US Stocks 37.44%
International Developed Stocks 30.64%
Gold Related Investments 15.43%
Short-Term, Cash & Cash Equivalents 9.45%
International Emerging Stocks 6.14%
International Currency Bonds 0.88%
US $ Bonds 0.01%
US Stocks 39.21%
International Developed Stocks 30.77%
Gold Related Investments 15.02%
Short-Term, Cash & Cash Equivalents 7.90%
International Emerging Stocks 6.01%
International Currency Bonds 1.08%
US $ Bonds 0.01%
US Stocks 40.82%
International Developed Stocks 30.03%
Gold Related Investments 14.84%
International Emerging Stocks 5.83%
International Currency Bonds 1.14%
US $ Bonds 0.01%
US Stocks 40.48%
International Stocks 36.15%
Gold Related Investments 14.84%
Short-Term, Cash & Cash Equivalents 7.24%
International Currency Bonds 1.29%
US $ Bonds 0.01%
US Stocks 40.25%
International Stocks 34.83%
Gold Related Investments 15.16%
Short-Term, Cash & Cash Equivalents 8.50%
International Currency Bonds 1.24%
US $ Bonds 0.01%
US Stocks 41.87%
International Stocks 35.87%
Gold Related Investments 14.08%
Cash & Cash Equivalents 6.86%
International Currency Bonds 1.31%
US $ Bonds 0.01%

Allocation by Region (%)

United States: 41.22%
Europe: 20.06%
Gold Related Investments: 15.17%
Short-Term, Cash & Cash Equivalents: 7.13%
Japan: 6.72%
Asia ex-Japan: 5.19%
Canada: 2.37%
Latin America: 2.13%
Source: FactSet; data as of Sep 30, 2024.
United States 41.22%
Europe 20.06%
Gold Related Investments 15.17%
Short-Term, Cash & Cash Equivalents 7.13%
Japan 6.72%
Asia ex-Japan 5.19%
Canada 2.37%
Latin America 2.13%
United States 40.77%
Europe 19.00%
Gold Related Investments 15.08%
Short-Term, Cash & Cash Equivalents 8.73%
Japan 6.75%
Asia ex-Japan 5.10%
Canada 2.49%
Latin America 2.06%
United States 39.83%
Europe 18.62%
Gold Related Investments 14.98%
Short-Term, Cash & Cash Equivalents 9.09%
Japan 6.84%
Asia ex-Japan 5.39%
Latin America 2.69%
Other Countries 2.56%
United States 40.05%
Europe 18.66%
Gold Related Investments 14.93%
Short-Term, Cash & Cash Equivalents 8.31%
Japan 7.08%
Asia ex-Japan 5.22%
Other 3.18%
Latin America 2.57%
United States 39.28%
Europe 17.65%
Gold Related Investments 14.03%
Short-Term, Cash & Cash Equivalents 11.05%
Japan 6.71%
Asia ex-Japan 5.41%
Other 3.42%
Latin America 2.44%
United States 38.04%
Europe 18.11%
Gold Related Investments 14.28%
Short-Term, Cash & Cash Equivalents 11.43%
Japan 7.07%
Asia ex-Japan 5.41%
Other 3.08%
Latin America 2.59%
United States 37.44%
Europe 19.08%
Gold Related Investments 15.43%
Short-Term, Cash & Cash Equivalents 9.45%
Japan 7.17%
Asia ex-Japan 5.71%
Other 3.41%
Latin America 2.31%
United States 39.21%
Europe 19.07%
Gold Related Investments 15.02%
Short-Term, Cash & Cash Equivalents 7.90%
Japan 7.09%
Asia ex-Japan 5.89%
Other 3.65%
Latin America 2.18%
United States 40.82%
Europe 17.64%
Gold Related Investments 14.84%
Japan 7.43%
Short-Term, Cash & Cash Equivalents 7.32%
Asia ex-Japan 5.80%
Other 3.91%
Latin America 2.24%
United States 40.48%
Europe 17.99%
Gold Related Investments 14.84%
Japan 7.70%
Short-Term, Cash & Cash Equivalents 7.24%
Asia ex-Japan 6.09%
Other 3.92%
Latin America 1.74%
United States 40.25%
Europe 16.88%
Gold Related Investments 15.16%
Short-Term, Cash & Cash Equivalents 8.50%
Japan 7.74%
Asia ex-Japan 5.66%
Other 3.91%
Latin America 1.89%
United States 41.87%
Europe 17.81%
Gold Related Investments 14.08%
Japan 8.47%
Cash & Cash Equivalents 6.86%
Asia ex-Japan 5.69%
Other 3.76%
Latin America 1.46%

  1. Short-Term, Cash & Cash Equivalents include short-term investments; e.g., short-term commercial paper (2.9% of net assets) that settles in 90 days or less, longer-term commercial paper (6.1% of net assets) that settles in 91 days or more, with the balance in US T-bills or money market funds.

     

     

  2. Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities. Based on total fair value of investment and cash/cash equivalents. Not a guarantee of future portfolio composition. Current and future portfolio holdings are subject to risk.

  3. Percentages may not sum to 100% due to rounding.

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  5. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  6. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  7. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Fund Management

  • Julien Albertini Headshot

    Julien Albertini

    Portfolio Manager and Senior Research Analyst
    Industry start:  
    2003
    Year joined:  
    2013
  • Brooker Kimball Headshot

    Kimball Brooker Jr.

    Co-Head of Global Value Team and Portfolio Manager
    Industry start:  
    1992
    Year joined:  
    2009
  • Manish Gupta Headshot

    Manish Gupta

    Portfolio Manager and Senior Research Analyst
    Industry start:  
    2005
    Year joined:  
    2009
  • Matthew McLennan Headshot

    Matthew McLennan

    Co-Head of Global Value Team and Portfolio Manager
    Industry start:  
    1991
    Year joined:  
    2008

Investment Process

The fundamental research process has remained constant since the inception of the Fund. The Fund looks for opportunities in companies that have temporarily disappointed investors; industries in turmoil or out of favor; and countries in economic downturns or overlooked by the market.

The investment process involves the following steps:

  • 01

    Analyze, Understand Business Models

    Thoroughly understand a company and the market in which it operates. Among other critical factors, the team’s document-driven analysis examines:

    • A company’s market share. 
    • The nature of its products and its business contingencies

  • 02

    Recast Financial Statements

    Financial statements are recast because:

    • Conservative accounting practices can mask the true earnings power of a company
    • In our view, accounting practices are sometimes too liberal

    Our goal is to uncover a company's true economic earnings using only demonstrated results.

  • 03

    Calculate Intrinsic Value

    The team places great emphasis on: 

    • Balance sheet valuation (such as Enterprise Value to Asset Replacement Value)
    • Cash flow valuation (such as EV/EBIT)

    Investments are made based on significant discounts to what is believed to be a company’s intrinsic value.

  • 04

    Typically Invest for the Long Term

    The team typically seeks a discount to what they believe is a company’s intrinsic value:

    • They seek further downside mitigation by determining a “margin of safety” in each holding
    • This “margin of safety” is viewed as a form of risk mitigation against uncertainty in a fundamentally unknowable future

    The Global Fund may also invest in non-equity securities in an attempt to help preserve purchasing power. These include:

    • Gold bullion
    • Corporate bonds (senior or subordinated bonds, convertible bonds)
    • Cash and cash equivalents (commercial paper)

  1. Definitions

  2. One cannot invest directly in an index. Indices do not incur management fees or other operating expenses.

  3. MSCI World: The MSCI World Index is a widely followed, unmanaged group of stocks from 23 developed markets and is not available for purchase. The index provides total returns in U.S. dollars with net dividends reinvested.

  4. Standard deviation is a statistical measure of the distance a quantity is likely to be from its average value.  It is applied to the annual rate of return to measure volatility.

  5. Beta is a measure of the fund's volatility (risk) relative to the overall market. The higher the fund's Beta, the more the fund price is expected to change in response to a given change in the value of the market.

  6. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  7. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

The following information describes the fees and expenses you may pay if you buy and hold shares of the Global Fund.

Please read prospectus carefully for more complete information including details on fees, expenses and risks before investing.

Share Class A (SGENX)

Expense Ratio and Shareholder Fees as of March 1, 2024

Shareholder Fee (%)

These are the fees paid directly from your investment.

 Sales ChargeDealer Re-Allowance
Less than $25,0005.004.50
$25,000 but less than $50,0004.504.25
$50,000 but less than $100,0004.003.75
$100,000 but less than $250,0003.253.00
$250,000 but less than $500,0002.502.25
$500,000 but less than $1,000,0001.501.25
$1,000,000 and over10.000.00

 

Expense Ratio (%)

These are the expenses you pay each year as a percentage of the value of your investment

Management Fees0.75
Distribution and Service (12b-1) Fees0.25
Other Expenses0.10
Total1.10

  1. Disclosures

  2. 1

    A contingent deferred sales charge of 1.00% may be imposed on certain redemptions of Class A shares made within 18 months following a purchase of $1,000,000 or more without an initial sales charge.

  3. There are several ways to lower the sales charge on Class A shares: Aggregation, Rights of Accumulation and Letter of Intention. For details please refer to our prospectus.

  4. In order to claim a breakpoint or other means of reducing the sales charge, an investor should notify his or her dealer, the Distributor, or the Transfer Agent (DST) at the time of purchase.

Share Class C (FESGX)

Expense Ratio and Shareholder Fees as of March 1, 2024

Shareholder Fee (%)

These are the fees paid directly from your investment.

  
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of your purchase or redemption price)1.00

 

Expense Ratio (%)

These are the expenses you pay each year as a percentage of the value of your investment

Management Fees0.75
Distribution and Service (12b-1) Fees1.00
Other Expenses0.11
Total1.86

  1. Disclosures

  2. In order to claim a breakpoint or other means of reducing the sales charge, an investor should notify his or her dealer, the Distributor, or the Transfer Agent (DST) at the time of purchase.

Share Class I (SGIIX)

Expense Ratio and Shareholder Fees as of March 1, 2024

Expense Ratio (%)

These are the expenses you pay each year as a percentage of the value of your investment

Management Fees0.75
Distribution and/or Service (12b-1) Fees0.00
Other Expenses0.11
Total0.86

  1. Disclosures

  2. Class I Shares require $1MM minimum investment and are offered without sales charge. There is no minimum subsequent investment amount for Class I Shares.

  3. In order to claim a breakpoint or other means of reducing the sales charge, an investor should notify his or her dealer, the Distributor, or the Transfer Agent (DST) at the time of purchase.

Share Class R6 (FEGRX)

Expense Ratio and Shareholder Fees as of March 1, 2024

Expense Ratio (%)

These are the expenses you pay each year as a percentage of the value of your investment

Management Fees0.75
Distribution and Service (12b-1) Fees0.00
Other Expenses0.04
Total0.79

  1. Disclosures

  2. In order to claim a breakpoint or other means of reducing the sales charge, an investor should notify his or her dealer, the Distributor, or the Transfer Agent (DST) at the time of purchase.

  1. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Capital Gains Distributions

Record DateEx & Reinvestment DatePayable DateOrdinary IncomeShort Term Capital GainsLong Term Capital GainsLong Term Capital Gains - 28%Total Distribution
12/04/2024 12/05/2024 12/06/2024 $1.597 $0.027 $2.038 $0.000 $3.662
12/04/2023 12/05/2023 12/06/2023 $0.814 $0.000 $1.407 $0.000 $2.221
11/30/2022 12/01/2022 12/02/2022 $0.057 $0.000 $2.358 $0.000 $2.415
11/30/2021 12/01/2021 12/02/2021 $1.243 $0.053 $2.749 $0.000 $4.045
11/30/2020 12/01/2020 12/02/2020 $0.508 $0.000 $0.952 $0.000 $1.460
12/17/2019 12/18/2019 12/19/2019 $0.733 $0.000 $2.445 $0.000 $3.178
12/11/2018 12/12/2018 12/13/2018 $0.430 $0.052 $2.750 $0.000 $3.232
12/12/2017 12/13/2017 12/14/2017 $0.435 $0.081 $1.980 $0.000 $2.496
12/13/2016 12/14/2016 12/15/2016 $0.207 $0.089 $2.265 $0.000 $2.561
12/16/2015 12/17/2015 12/18/2015 $0.068 $0.033 $0.496 $0.000 $0.597
12/15/2014 12/16/2014 12/17/2014 $0.295 $0.178 $1.963 $0.238 $2.674
12/16/2013 12/17/2013 12/18/2013 $0.656 $0.329 $1.248 $0.198 $2.431
12/12/2012 12/13/2012 12/14/2012 $0.512 $0.262 $1.151 $0.198 $2.123
12/12/2011 12/13/2011 12/14/2011 $0.526 $0.000 $0.610 $0.000 $1.136
12/15/2010 12/16/2010 12/17/2010 $0.640 $0.000 $0.000 $0.000 $0.640
12/15/2009 12/16/2009 12/17/2009 $0.574 $0.000 $0.000 $0.000 $0.574
12/16/2008 12/17/2008 12/18/2008 $0.143 $0.000 $2.310 $0.000 $2.453
12/04/2024 12/05/2024 12/06/2024 $1.032 $0.027 $2.038 $0.000 $3.097
12/04/2023 12/05/2023 12/06/2023 $0.310 $0.000 $1.407 $0.000 $1.717
11/30/2022 12/01/2022 12/02/2022 $0.000 $0.000 $2.358 $0.000 $2.358
11/30/2021 12/01/2021 12/02/2021 $0.588 $0.053 $2.749 $0.000 $3.390
11/30/2020 12/01/2020 12/02/2020 $0.000 $0.000 $0.952 $0.000 $0.952
12/17/2019 12/18/2019 12/19/2019 $0.179 $0.000 $2.445 $0.000 $2.624
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.052 $2.750 $0.000 $2.802
12/12/2017 12/13/2017 12/14/2017 $0.000 $0.081 $1.980 $0.000 $2.061
12/13/2016 12/14/2016 12/15/2016 $0.000 $0.089 $2.265 $0.000 $2.354
12/16/2015 12/17/2015 12/18/2015 $0.000 $0.033 $0.496 $0.000 $0.529
12/15/2014 12/16/2014 12/17/2014 $0.000 $0.178 $1.963 $0.238 $2.379
12/16/2013 12/17/2013 12/18/2013 $0.288 $0.329 $1.248 $0.198 $2.063
12/12/2012 12/13/2012 12/14/2012 $0.161 $0.262 $1.151 $0.198 $1.772
12/12/2011 12/13/2011 12/14/2011 $0.205 $0.000 $0.610 $0.000 $0.815
12/15/2010 12/16/2010 12/17/2010 $0.350 $0.000 $0.000 $0.000 $0.350
12/15/2009 12/16/2009 12/17/2009 $0.367 $0.000 $0.000 $0.000 $0.367
12/16/2008 12/17/2008 12/18/2008 $0.000 $0.000 $2.310 $0.000 $2.310
12/04/2024 12/05/2024 12/06/2024 $1.765 $0.027 $2.038 $0.000 $3.830
12/04/2023 12/05/2023 12/06/2023 $0.965 $0.000 $1.407 $0.000 $2.372
11/30/2022 12/01/2022 12/02/2022 $0.213 $0.000 $2.358 $0.000 $2.571
11/30/2021 12/01/2021 12/02/2021 $1.409 $0.053 $2.749 $0.000 $4.211
11/30/2020 12/01/2020 12/02/2020 $0.655 $0.000 $0.952 $0.000 $1.607
12/17/2019 12/18/2019 12/19/2019 $0.883 $0.000 $2.445 $0.000 $3.328
12/11/2018 12/12/2018 12/13/2018 $0.601 $0.052 $2.750 $0.000 $3.403
12/12/2017 12/13/2017 12/14/2017 $0.605 $0.081 $1.980 $0.000 $2.666
12/13/2016 12/14/2016 12/15/2016 $0.349 $0.089 $2.265 $0.000 $2.703
12/16/2015 12/17/2015 12/18/2015 $0.208 $0.033 $0.496 $0.000 $0.737
12/15/2014 12/16/2014 12/17/2014 $0.445 $0.178 $1.963 $0.238 $2.824
12/16/2013 12/17/2013 12/18/2013 $0.784 $0.329 $1.248 $0.198 $2.559
12/12/2012 12/13/2012 12/14/2012 $0.633 $0.262 $1.151 $0.198 $2.244
12/12/2011 12/13/2011 12/14/2011 $0.641 $0.000 $0.610 $0.000 $1.251
12/15/2010 12/16/2010 12/17/2010 $0.760 $0.000 $0.000 $0.000 $0.760
12/15/2009 12/16/2009 12/17/2009 $0.647 $0.000 $0.000 $0.000 $0.647
12/16/2008 12/17/2008 12/18/2008 $0.253 $0.000 $2.310 $0.000 $2.563
12/04/2024 12/05/2024 12/06/2024 $1.818 $0.027 $2.038 $0.000 $3.883
12/04/2023 12/05/2023 12/06/2023 $1.011 $0.000 $1.407 $0.000 $2.418
11/30/2022 12/01/2022 12/02/2022 $0.254 $0.000 $2.358 $0.000 $2.612
11/30/2021 12/01/2021 12/02/2021 $1.458 $0.053 $2.749 $0.000 $4.260
11/30/2020 12/01/2020 12/02/2020 $0.695 $0.000 $0.952 $0.000 $1.647
12/17/2019 12/18/2019 12/19/2019 $0.918 $0.000 $2.445 $0.000 $3.363
12/11/2018 12/12/2018 12/13/2018 $0.638 $0.052 $2.750 $0.000 $3.440
12/12/2017 12/13/2017 12/14/2017 $0.640 $0.081 $1.980 $0.000 $2.701

  1. Ordinary income distributions are distributed at the class level and will vary by class.

  2. Collectibles gains, such as gains from gold bullion, held for greater than one year currently are subject to a 28% tax rate. Collectibles gains held for less than one year are taxable to U.S. shareholders as short-term gains.

  3. "Reinvested at" is the share price used to calculate the number of shares added to an account if a shareholder reinvests dividends or capital gains.

  1. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

Fund Information

Portfolio Composition
Holdings
Fact Sheet
Volatility Playbook
Investor Guide
Annual Report
Semi Annual Report
Dealer Fact Guide

Commentaries

Quarterly Commentary

  1. The prospectus and summary prospectus may be viewed online or by calling us at 800-747-2008. Please read our prospectus carefully before investing.  Investments are not FDIC insured or bank guaranteed and may lose value.

  1. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

  1. Risk Disclosures

  2. All investments involve the risk of loss of principal.

  3. There are risks associated with investing in securities of foreign countries, such as erratic market conditions, economic and political instability and fluctuations in currency exchange rates.

  4. A principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. “Value” investments, as a category, or entire industries or sectors associated with such investments, may lose favor with investors as compared to those that are more “growth” oriented.

  5. Investment in gold and gold-related investments present certain risks and returns on gold related investments have traditionally been more volatile than investments in broader equity or debt markets.

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Contact Us

Corporate Headquarters

1345 Avenue of the Americas

New York, NY 10105

212-698-3300

  1. Investors should consider investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the Funds and may be viewed online or calling us at 800.747.2008. Please read the prospectus carefully before investing. Investments are not FDIC insured or bank guaranteed and may lose value.

  2. FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy, or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product.

  3. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC, which provides advisory services.

  4. Check the background of FEF Distributors, LLC (Member SIPC) on FINRA's BrokerCheck.

    Form Customer Relationship Summary ("FORM CRS") can be accessed by clicking on this link FORM CRS