First Eagle Global Income Builder Fund Marks Five-Year Anniversary
NEW YORK—(May 10, 2017)—First Eagle Investment Management is pleased to announce that First Eagle Global Income Builder Fund (the Fund) marked its five-year anniversary on May 1, 2017. The Fund had an average annualized return of 6.82% for the institutional class shares (FEBIX), outperforming its Morningstar World Allocation category median by 1.29% over the five-year period ended May 1, 2017. The overall multi-asset income strategy had total net assets of $3.1 billion globally, of which the Fund represented $1.3 billion.
Aiming for both current income and long-term growth of capital, the Fund employs a highly flexible, benchmark-agnostic approach. Based on in-house bottom-up research, co-managers Kimball Brooker, Edward Meigs and Sean Slein select equities and fixed income investments from around the globe. Downside protection—defined as the avoidance of permanent impairment of capital—is a key area of focus. The Fund is available in share classes directed at individual investors, institutions and participants in group retirement plans.
“When we launched the fund in 2012, we thought that historically low interest rates were likely to challenge income investors for years to come. We looked to our fixed income allocation for the potential ballast of sustainable income and to our equity allocation for dividend income and potential real growth relative to inflation,” said Kimball Brooker, deputy head of the Global Value team and portfolio manager. “By staying true to what we believe is a prudent investment philosophy—taking on less credit risk and not chasing yield—we have tended to differ from our peers. We go where we believe the opportunities are, but we are very cognizant of risk.”
“In a low-yield environment where rates have been expected to normalize, financial advisors have been eager to find investment solutions for their clients that can provide sustainable income without undue exposure to interest-rate risk,” said Robert Bruno, head of retail distribution at First Eagle Investment Management and president of FEF Distributors. “Many advisors have turned to our fund over the last five years, giving their clients the potential to benefit from its solid investment performance.”
About First Eagle Investment Management
First Eagle is an independent investment management firm that manages approximately $105 billion in assets (as of 3/31/17) on behalf of institutional and individual clients. With the core purpose of providing prudent stewardship of client assets, the firm offers active, fundamental, benchmark-agnostic strategies, with a strong focus on downside protection. First Eagle’s investment capabilities include equity, fixed income and multi-asset strategies. Over a long history dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. First Eagle Investment Management is the adviser to First Eagle Funds. For more information, please visit www.feim.com.
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The Morningstar percentile rankings for the First Eagle Global Income Builder Fund in the Morningstar World Allocation category were derived using the total return of the performance figure associated with its 1-, 3- and 5-year time periods as of 05/01/17. First Eagle Global Income Builder Class I: Morningstar percentile rankings were: 38% for the 1-year (179/467), 33% for the 3-year (130/402) and 19% for the 5-year (62/335) when compared against the Morningstar World Allocation category. Different share classes have different ratings.
Private equity funds owned by The Blackstone Capital Partners and Corsair Capital own a majority stake in First Eagle Investment Management.
107 - Inception Date All Share Classes - GIB
**Global Income Builder Fund Inception dates: A Shares 05/01/2012, C Shares 05/01/2012, I Shares 05/01/2012, R3 Shares 05/01/2018, R6 Shares 03/01/2017.
121 - Performance - Fee Waiver GIB and HY
Had fees not been waived and/or expenses reimbursed in the past, returns would have been lower.
131-Performance-Average Annual Returns Reflect
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.
124 - Avg Annual Returns - Periods less than 1 year
Returns for periods less than one year are not annualized.
36-Disclosure Performance A-share performance USV, GLD, FEA, GIB
The average annual returns for Class A Shares "with sales charge" reflects the maximum sales charge of 5.00%.
37-Disclosure Performance C-share performance All funds
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.
43-Disclosure Performance I-Share performance GLO, OVS, USV, GLD, FEA, GIB
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-Disclosure Expenses I Share $1mm minimum All funds
Class I Shares require $1mm minimum investment, and are offered without sales charge.
215-R Share Performance
Class R Shares are offered without sales charge.
82 - Expenses - Expense Ratio As of Date - All Funds
The annual expense ratio is based on expenses incurred by the fund, as stated in the most recent prospectus.
49-Disclosure Performance Standard Past Performance All funds
The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the 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.