US Dividend Equity Strategy

Risk Disclosures

All investments involve the risk of loss of principal.

The value of the Strategy’s portfolio holdings may fluctuate in response to events specific to the companies or markets in which US Dividend Equity Strategy invests, as well as economic, political, or social events in the United States or abroad. Recent market conditions and events, including a global public health crisis and actions taken by governments in response, may exacerbate volatility. The value of the portfolio may fluctuate in response to the risk that the prices of equity securities, including common stock, rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.

Income generation is not guaranteed. If dividend paying stocks in the Strategy's portfolio stop paying or reduce dividends, the Strategy's ability to generate income will be adversely affected.

Investments in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner, or that negative perception of the issuer's ability to make such payments may cause the price of that bond to decline. Recent market conditions and events, including a global public health crisis and actions taken by governments in response, may exacerbate these risks.

The Strategy is a non-diversified, and as a result, an investment in US Dividend Equity Strategy may expose your money to greater risks than if you invest in a diversified strategy.

Disclosures

Effective August 14, 2020, the US Dividend Equity Strategy changed its investment objective and principal investment strategy. Under the prior objective and strategy, the portfolio and investment characteristics differed substantially from that now presented. Current management is also as of August 14, 2020.

These are not investment guidelines or restrictions and will be subject to change. Actual portfolio will differ.

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.

Definitions

“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.

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.

Benchmark Definitions

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

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.

Risk Disclosures

All investments involve the risk of loss of principal.

The value of the Strategy’s portfolio holdings may fluctuate in response to events specific to the companies or markets in which US Dividend Equity Strategy invests, as well as economic, political, or social events in the United States or abroad. Recent market conditions and events, including a global public health crisis and actions taken by governments in response, may exacerbate volatility. The value of the portfolio may fluctuate in response to the risk that the prices of equity securities, including common stock, rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.

Income generation is not guaranteed. If dividend paying stocks in the Strategy's portfolio stop paying or reduce dividends, the Strategy's ability to generate income will be adversely affected.

Investments in bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner, or that negative perception of the issuer's ability to make such payments may cause the price of that bond to decline. Recent market conditions and events, including a global public health crisis and actions taken by governments in response, may exacerbate these risks.

The Strategy is a non-diversified, and as a result, an investment in US Dividend Equity Strategy may expose your money to greater risks than if you invest in a diversified strategy.

Disclosures

Effective August 14, 2020, the US Dividend Equity Strategy changed its investment objective and principal investment strategy. Under the prior objective and strategy, the portfolio and investment characteristics differed substantially from that now presented. Current management is also as of August 14, 2020.

These are not investment guidelines or restrictions and will be subject to change. Actual portfolio will differ.

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.

Definitions

“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.

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.