Overseas ADR SMA
Focus on Long-Term Growth of Capital
We seek to avoid the permanent impairment of capital and potentially generate long-term attractive investment returns across market cycles.
Flexible, Benchmark-Agnostic Approach
The Strategy 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
In our efforts to do no harm with a goal to avoid the permanent loss of capital result in a portfolio that has exposure to non-U.S. equities purchased with what we believe to be a "margin of safety" in price.
First Eagle Separate Account Management, LLC (“FESAM”) is newly established and has no operating history upon which investors can evaluate its likely performance. FESAM relies on First Eagle Investment Management, LLC (“FEIM”) for numerous services and resources, and the investment teams of FESAM and FEIM work together to make investment decisions. Although FEIM’s investment team, including the portfolio managers of FESAM, has experience managing strategies involving global equity securities, neither FEIM nor FESAM has in the past managed and does not currently manage any client or account in an SMA or in a Global ADR strategy. Accordingly, an investment entails a significant degree of risk.
This Portfolio is available only through a wrap fee or similar program sponsored by a third-party intermediary (“Sponsor”) that has engaged First Eagle Separate Account Management, LLC to manage certain of the Sponsor’s client accounts on a discretionary basis or to provide the Sponsor with recommendations in the form of model portfolio.
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. These risks may be more pronounced with respect to investments in emerging markets.
The 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.
Investment in 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.
All investments involve the risk of loss of principal.
The Global Value Team defines “margin of safety” as the difference between a company’s purchase price and our estimate of its intrinsic value.
First Eagle Investment Management is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers including First Eagle Separate Account Management, LLC.
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