Investment Philosophy

First Eagle Gold Fund is a non-diversified fund whose investment objective is to seek to provide exposure to the investment characteristics of gold and, to a limited extent, other precious metals. In seeking to achieve its objective, the Fund invests primarily in gold, gold-related securities, and issuers principally engaged in the gold industry.
  • Access to Investment Expertise

    Potential Hedge

    Serves as a potential hedge against the consequences of catastrophic unforeseen events.

  • 08 flexible

    Seek Cheapest Ounces

    Our goal is to purchase what we believe are the cheapest gold ounces whether below (miners) or above (bullion) ground. 

  • Market

    Do Not Forecast the Price of Gold

    We do not attempt to predict the future price of gold.

How We Invest

  • 01

    Investable Universe

    The Fund invests primarily in gold, gold-related securities and issuers principally engaged in the gold industry.

  • 02

    Research Using Proprietary Model

    The team determines between investing in gold and investing in gold mining equities using a proprietary model.

    • This model provides a detailed framework for assessing a mining company’s assets and is dependent on the company’s proven and probable reserves
    • The team typically invests more heavily in companies already in production

    The team tends to discount other base metals that gold companies may mine because they view gold as a potential hedge.

    The team allocates capital to mining companies when they can find what they believe is a “margin of safety” that takes into account the risks surrounding mining, including

    • Operational risk
    • Capital risk
    • Geopolitical risk
       

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Jun 30, 2022.

  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.

  1. Disclosures

  2. Gold Fund Inception dates: A Shares 08/31/1993, C Shares 05/15/2003, I Shares 05/15/2003, R3 Shares 05/01/2018, R4 Shares 07/29/2019, R5 Shares 07/29/2019, R6 Shares 03/01/2017.

  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. The FTSE Gold Mines Index Series is designed to reflect the performance of the worldwide market in the shares of companies whose principal activity is the mining of gold. The FTSE Gold Mines Index encompasses all gold mining companies that have a sustainable, attributable gold production of at least 300,000 ounces a year and that derive 51% or more of their revenue from mined gold. The Index is unmanaged, is available with dividends reinvested and is not available for purchase.

  3. 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. 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.

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

  8. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

Growth of $10K

Select Benchmarks

Source: FactSet; data as of Jun 30, 2022.

  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.

10 Year Risk vs. Return

SGGDXFTSE Gold Mines IndexMSCI EAFE IndexMSCI World IndexS&P 500 Index
Annualized Return (%)   -1.73   -4.73    5.40    9.51   12.96
Annualized Standard Deviation (%)   28.42   36.68   13.86   13.48   13.65
R-Square (%)   96.98  100.00    4.52    5.05    3.90
Beta    0.76    1.00    0.08    0.08    0.07
Alpha (annualized)    0.89    0.00    6.27   10.36   13.87
Information Ratio (annualized)    0.30     NA     0.28    0.39    0.48

Source: FactSet; data as of Jun 30, 2022.

Calendar Year Returns

YearClass A (SGGDX)FTSE Gold Mines Index
2021 -7.76 -12.72
2020 29.58 23.22
2019 38.51 41.21
2018 -15.90 -11.31
2017 8.12 9.11
2016 36.92 59.59
2015 -19.28 -21.42
2014 -2.41 -15.20
2013 -46.99 -53.17
2012 -5.15 -15.43
2011 -11.13 -15.88
2010 34.64 29.03
2009 39.18 29.63
2008 -14.27 -19.87
2007 23.48 21.04
2006 21.32 12.58
2005 26.25 27.82
2004 -5.11 -6.92
2003 39.43 42.81
2002 106.97 52.34
2001 37.31 22.69
2000 -17.91 -26.36
1999 8.09 -0.67
1998 -18.44 -11.68
1997 -29.79 -41.96
1996 0.89 -4.70
1995 1.28 -3.16
1994 -0.84 -11.21
1993 14.20 18.37

Source: FactSet; data as of Dec 31, 2021.

TickerClassYTD %1 MO3 MO1 YR3 YR5 YR10 YRINCEPT %Expense Ratio
GrossNet
SGGDX A w/out load -16.59%   1.69%  -8.61% -11.48%   3.04%   2.99%  -4.28%   4.94%   1.22% --
SGGDX A w/load -20.75%  -3.37% -13.19% -15.89%   1.29%   1.94%  -4.77%   4.75%   1.22% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
SGGDX A w/out load -16.59%   1.69%  -8.61% -11.48%   3.04%   2.99%  -4.28%   4.94%   1.22% --
SGGDX A w/load -20.75%  -3.37% -13.19% -15.89%   1.29%   1.94%  -4.77%   4.75%   1.22% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEGOX C -17.88%   0.69%  -9.64% -13.01%   2.31%   2.22%  -5.01%   4.11%   1.95% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEGOX C -17.88%   0.69%  -9.64% -13.01%   2.31%   2.22%  -5.01%   4.11%   1.95% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEGIX I -16.43%   1.74%  -8.53% -11.24%   3.34%   3.28%  -4.02%   5.18%   0.96% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEGIX I -16.43%   1.74%  -8.53% -11.24%   3.34%   3.28%  -4.02%   5.18%   0.96% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
EAURX R3 -16.77%   1.70%  -8.67% -11.73%   2.93%      -      -   4.81%   1.34% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
EAURX R3 -16.77%   1.70%  -8.67% -11.73%   2.93%      -      -   4.81%   1.34% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FIURX R4 -16.55%   1.69%  -8.60% -11.43%   3.19%      -      -   3.02%   1.11% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FIURX R4 -16.55%   1.69%  -8.60% -11.43%   3.19%      -      -   3.02%   1.11% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FERUX R5 -16.49%   1.74%  -8.57% -11.34%   3.20%      -      -   3.04%   1.03% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FERUX R5 -16.49%   1.74%  -8.57% -11.34%   3.20%      -      -   3.04%   1.03% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEURX R6 -16.40%   1.74%  -8.51% -11.19%   3.42%   3.36%      -   2.77%   0.85% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%
FEURX R6 -16.40%   1.74%  -8.51% -11.19%   3.42%   3.36%      -   2.77%   0.85% --
FTSE Gold Mines Index (since inception based on A Shares) -29.68%   0.86% -15.32% -21.88%  -6.35%  -0.80%  -7.91%  -0.88%
MSCI World Index (since inception based on A Shares) -25.42%  -9.30%  -6.19% -19.63%   4.56%   5.30%   8.11%   6.68%

Source: FactSet; data as of Sep 30, 2022.

Source: FactSet; data as of Sep 30, 2022.

  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. Gold Fund Inception dates: A Shares 08/31/1993, C Shares 05/15/2003, I Shares 05/15/2003, R3 Shares 05/01/2018, R4 Shares 07/29/2019, R5 Shares 07/29/2019, R6 Shares 03/01/2017.

  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. The FTSE Gold Mines Index Series is designed to reflect the performance of the worldwide market in the shares of companies whose principal activity is the mining of gold. The FTSE Gold Mines Index encompasses all gold mining companies that have a sustainable, attributable gold production of at least 300,000 ounces a year and that derive 51% or more of their revenue from mined gold. The Index is unmanaged, is available with dividends reinvested and is not available for purchase.

  3. 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. 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.

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

  8. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

Top Ten Holdings (%)

As of Aug 31, 2022

Gold Bullion 22.25
Wheaton Precious Metals Corp. CAN 8.92
Newmont Corp. US 7.55
Barrick Gold Corp. CAN 6.54
Agnico Eagle Mines Ltd. CAN 4.78
Alamos Gold Inc. CAN 4.66
Franco-Nevada Corp. CAN 4.44
B2Gold Corp. CAN 4.35
Newcrest Mining Ltd. AUS 4.33
Royal Gold, Inc. US 4.30
Top Ten Holdings as a Percentage of Total Net Assets 72.12

Top Ten Holdings (%)

As of Jul 31, 2022

Gold Bullion 22.05
Wheaton Precious Metals Corp. CAN 8.99
Newmont Corp. US 7.36
Barrick Gold Corp. CAN 5.62
Alamos Gold Inc. CAN 4.75
Agnico Eagle Mines Ltd. CAN 4.63
B2Gold Corp. CAN 4.60
Royal Gold, Inc. US 4.57
Newcrest Mining Ltd. AUS 4.51
Franco-Nevada Corporation CAN 4.39
Top Ten Holdings as a Percentage of Total Net Assets 71.46

Top Ten Holdings (%)

As of Jun 30, 2022

Gold Bullion 23.68
Newmont Corp. US 9.29
Wheaton Precious Metals Corp. CAN 6.99
Barrick Gold Corp. CAN 6.05
Royal Gold, Inc. US 4.46
Franco-Nevada Corp. CAN 4.31
Agnico Eagle Mines Ltd. CAN 4.20
B2Gold Corp. CAN 4.05
Alamos Gold Inc. CAN 4.03
Newcrest Mining Ltd. AUS 4.03
Top Ten Holdings as a Percentage of Total Net Assets 71.07

Top Ten Holdings (%)

As of May 31, 2022

Gold Bullion 22.21
Newmont Corp. US 9.75
Wheaton Precious Metals Corp. CAN 7.39
Barrick Gold Corp. CAN 6.46
Newcrest Mining Ltd. AUS 4.59
Agnico Eagle Mines Ltd. CAN 4.50
B2Gold Corp. CAN 4.39
Royal Gold, Inc. US 4.36
Franco-Nevada Corp. CAN 4.29
Alamos Gold Inc. CAN 3.96
Top Ten Holdings as a Percentage of Total Net Assets 71.90

Top Ten Holdings (%)

As of Apr 30, 2022

Gold Bullion 22.25
Newmont Corp. US 10.15
Wheaton Precious Metals Corp. CAN 7.79
Barrick Gold Corp. CAN 6.83
Agnico Eagle Mines Ltd. CAN 5.60
Royal Gold, Inc. US 4.93
Newcrest Mining Ltd. AUS 4.59
B2Gold Corp. CAN 4.58
Franco-Nevada Corporation CAN 4.14
Alamos Gold Inc. CAN 3.81
Top Ten Holdings as a Percentage of Total Net Assets 74.67

Top Ten Holdings (%)

As of Mar 31, 2022

Gold Bullion 20.70
Newmont Corp. US 10.26
Agnico Eagle Mines Ltd. CAN 7.82
Wheaton Precious Metals Corp. CAN 7.65
Barrick Gold Corp. CAN 6.95
Royal Gold, Inc. US 5.53
B2Gold Corp. CAN 4.57
Newcrest Mining Ltd. AUS 4.57
Novagold Resources Inc. CAN 4.37
Alamos Gold Inc. CAN 3.79
Top Ten Holdings as a Percentage of Total Net Assets 76.21

Top Ten Holdings (%)

As of Feb 28, 2022

Gold Bullion 20.51
Newmont Corp. US 9.39
Wheaton Precious Metals Corp. CAN 7.74
Agnico Eagle Mines Ltd. CAN 7.08
Barrick Gold Corp. CAN 7.03
Royal Gold, Inc. US 5.22
Newcrest Mining Ltd. AUS 4.58
B2Gold Corp. CAN 4.41
Novagold Resources Inc CAN 3.82
Alamos Gold Inc. CAN 3.65
Top Ten Holdings as a Percentage of Total Net Assets 73.43

Top Ten Holdings (%)

As of Jan 31, 2022

Gold Bullion 21.08
Newmont Corp. US 9.47
Wheaton Precious Metals Corp. CAN 7.78
Barrick Gold Corp. CAN 6.51
Royal Gold, Inc. US 4.77
Kirkland Lake Gold Ltd. CAN 4.75
B2Gold Corp. CAN 4.29
Newcrest Mining Ltd. AUS 4.17
Novagold Resources Inc. CAN 3.95
Dundee Precious Metals Inc. CAN 3.90
Top Ten Holdings as a Percentage of Total Net Assets 70.67

Top Ten Holdings (%)

As of Dec 31, 2021

Gold Bullion 22.70
Newmont Corp. US 9.15
Wheaton Precious Metals Corp. CAN 6.54
Barrick Gold Corp. CAN 6.15
Kirkland Lake Gold Ltd. CAN 5.30
Royal Gold, Inc. US 5.30
Newcrest Mining Ltd. AUS 4.60
Alamos Gold Inc. CAN 3.97
B2Gold Corp. CAN 3.94
Dundee Precious Metals Inc. CAN 3.92
Top Ten Holdings as a Percentage of Total Net Assets 71.57

Top Ten Holdings (%)

As of Nov 30, 2021

Gold Bullion 21.80
Newmont Corp. US 8.03
Wheaton Precious Metals Corp. CAN 6.31
Barrick Gold Corp. CAN 6.10
Royal Gold, Inc. US 5.00
Kirkland Lake Gold Ltd. CAN 4.94
Newcrest Mining Ltd. AUS 4.21
Dundee Precious Metals Inc. CAN 3.98
B2Gold Corp. CAN 3.91
Alamos Gold Inc. CAN 3.90
Top Ten Holdings as a Percentage of Total Net Assets 68.17

Top Ten Holdings (%)

As of Oct 31, 2021

Gold Bullion 21.45
Newmont Corp. US 7.72
Wheaton Precious Metals Corp. CAN 5.97
Barrick Gold Corp. CAN 5.77
Kirkland Lake Gold Ltd. CAN 5.16
Newcrest Mining Ltd. AUS 4.67
Royal Gold, Inc. US 4.65
Dundee Precious Metals Inc. CAN 4.03
B2Gold Corp. CAN 3.99
Novagold Resources Inc CAN 3.77
Top Ten Holdings as a Percentage of Total Net Assets 67.18

Top Ten Holdings (%)

As of Sep 30, 2021

Gold Bullion 23.06
Newmont Corp. US 10.34
Barrick Gold Corp. CAN 5.92
Wheaton Precious Metals Corp. CAN 5.80
Kirkland Lake Gold Ltd. CAN 5.33
Royal Gold, Inc. US 4.35
Newcrest Mining Ltd. AUS 3.84
Novagold Resources Inc CAN 3.70
Dundee Precious Metals Inc. CAN 3.60
Alamos Gold Inc. CAN 3.13
Top Ten Holdings as a Percentage of Total Net Assets 69.08

Allocation By Asset Class (%)

Gold Mining Stocks: 61.29%
Gold Bullion: 23.68%
Short-Term, Cash & Cash Equivalents: 12.23%
Silver Bullion: 2.80%
Source: FactSet; data as of Jun 30, 2022.
Gold Mining Stocks 61.29%
Gold Bullion 23.68%
Short-Term, Cash & Cash Equivalents 12.23%
Silver Bullion 2.80%
Gold Mining Stocks 69.11%
Gold Bullion 20.70%
Short-Term, Cash & Cash Equivalents 7.35%
Silver Bullion 2.84%
Gold Mining Stocks 67.43%
Gold Bullion 22.70%
Cash & Cash Equivalents 6.83%
Silver Bullion 3.04%

Allocation By Region (%)

Canada: 40.89%
Gold Bullion: 23.68%
United States: 13.75%
Short-Term, Cash & Cash Equivalents: 12.23%
Australia: 4.03%
Silver Bullion: 2.80%
Mexico: 2.63%
Source: FactSet; data as of Jun 30, 2022.
Canada 40.89%
Gold Bullion 23.68%
United States 13.75%
Short-Term, Cash & Cash Equivalents 12.23%
Australia 4.03%
Silver Bullion 2.80%
Mexico 2.63%
Canada 46.33%
Gold Bullion 20.70%
United States 15.79%
Short-Term, Cash & Cash Equivalents 7.35%
Australia 4.57%
Silver Bullion 2.84%
Mexico 2.42%
Canada 43.89%
Gold Bullion 22.70%
United States 14.44%
Cash & Cash Equivalents 6.83%
Australia 4.60%
Mexico 3.21%
Silver Bullion 3.04%
South Africa 1.27%
  1. Short-Term, Cash & Cash Equivalents include short-term investments; e.g., short-term commercial paper (4.3% of net assets) that settles in 90 days or less, longer-term commercial paper (1.2% 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. Disclosures

  2. The Fund may invest in gold and precious metals through investment in a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). Gold Bullion and commodities include the Fund’s investment in the Subsidiary.

  3. Investment in gold and gold-related investments present certain risks, including political and economic risks affecting the price of gold and other precious metals like changes in U.S. or foreign tax, currency or mining laws, increased environmental costs, international monetary and political policies, economic conditions within an individual country, trade imbalances and trade or currency restrictions between countries. The price of gold, in turn, is likely to affect the market prices of securities of companies mining or processing gold, and accordingly, the value of investments in such securities may also be affected. Gold related investments as a group have not performed as well as the stock market in general during periods when the U.S. dollar is strong, inflation is low and general economic conditions are stable. In addition, returns on gold related investments have traditionally been more volatile than investments in broader equity or debt markets. Investment in gold and gold related investments may be speculative and may be subject to greater price volatility than investments in other assets and types of companies.

  4. Strategies whose investments are concentrated in a specific industry or sector may be subject to a higher degree of risk than funds whose investments are diversified and may not be suitable for all investors.

  5. 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.

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

  1. Definitions

  2. The FTSE Gold Mines Index Series is designed to reflect the performance of the worldwide market in the shares of companies whose principal activity is the mining of gold. The FTSE Gold Mines Index encompasses all gold mining companies that have a sustainable, attributable gold production of at least 300,000 ounces a year and that derive 51% or more of their revenue from mined gold. The Index is unmanaged, is available with dividends reinvested and is not available for purchase.

  3. 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. 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.

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

  8. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

Fund Management

  • Max Belmont

    Associate Portfolio Manager, Senior Research Analyst

    Industry start:  
    2008
    Year joined:  
    2014
  • Thomas Kertsos

    Portfolio Manager and Senior Research Analyst

    Industry start:  
    2006
    Year joined:  
    2014
  • Matthew McLennan

    Co-Head of Global Value Team and Portfolio Manager

    Industry start:  
    1991
    Year joined:  
    2008

Our Process

First Eagle Gold Fund is a non-diversified mutual fund whose investment objective is to seek to provide exposure to the investment characteristics of gold and, to a limited extent, other precious metals. In seeking to achieve its objective, the Fund invests primarily in gold, gold-related securities and issuers principally engaged in the gold industry.

  • 01

    Investable Universe

    The Fund invests primarily in gold, gold-related securities and issuers principally engaged in the gold industry.

  • 02

    Research Using Proprietary Model

    The team determines between investing in gold and investing in gold mining equities using a proprietary model.

    • This model provides a detailed framework for assessing a mining company’s assets and is dependent on the company’s proven and probable reserves
    • The team typically invests more heavily in companies already in production
    • The team tends to discount other base metals that gold companies may mine because they view gold as a potential hedge.

    The team allocates capital to mining companies when they can find what they believe is a “margin of safety” that takes into account the risks surrounding mining, including

    • Operational risk
    • Capital risk
    • Geopolitical risk
       
  1. Definitions

  2. The FTSE Gold Mines Index Series is designed to reflect the performance of the worldwide market in the shares of companies whose principal activity is the mining of gold. The FTSE Gold Mines Index encompasses all gold mining companies that have a sustainable, attributable gold production of at least 300,000 ounces a year and that derive 51% or more of their revenue from mined gold. The Index is unmanaged, is available with dividends reinvested and is not available for purchase.

  3. 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. 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.

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

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

Share Class A (SGGDX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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 Expenses20.22
Total Annual Operating Expenses after Fee Waiver1.22
  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. 2

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  4. 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.

  5. 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 (FEGOX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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 Expenses10.20
Total1.95
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  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 I (FEGIX)

Expense Ratio and Shareholder Fees as of March 1, 2022

Expense Ratio (%)

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

Management Fees0.75
Other Expenses10.21
Total0.96
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

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

  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 R3 (EAURX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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) Fees0.35
Other Expenses10.24
Total1.34
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  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 R4 (FUIRX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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) Fees0.10
Other Expenses10.26
Total1.11
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  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 R5 (FERUX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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 Expenses10.28
Total1.03
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  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 (FEURX)

Expense Ratio and Shareholder Fees as of March 1, 2022

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 Expenses10.10
Total0.85
  1. Disclosures

  2. 1

    "Other Expenses" shown generally reflect actual expenses for the Fund for the most recent fiscal year ended October 31 and estimated expenses in the case of newly organized share classes.

  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.

  1. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

Record DateEx & Reinvestment DatePayable DateOrdinary IncomeShort Term Capital GainsLong Term Capital GainsLong Term Capital Gains - 28%Total Distribution
11/30/2021 12/01/2021 12/02/2021 $0.221 $0.000 $0.000 $0.000 $0.221
11/30/2020 12/01/2020 12/02/2020 $0.316 $0.000 $0.000 $0.000 $0.316
12/17/2019 12/18/2019 12/19/2019 $0.000 $0.000 $0.000 $0.000 $0.000
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2017 12/13/2017 12/14/2017 $0.000 $0.000 $0.000 $0.000 $0.000
12/13/2016 12/14/2016 12/15/2016 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2015 12/17/2015 12/18/2015 $0.000 $0.000 $0.000 $0.000 $0.000
12/15/2014 12/16/2014 12/17/2014 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2013 12/17/2013 12/18/2013 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2012 12/13/2012 12/14/2012 $0.081 $0.000 $0.000 $0.000 $0.081
12/12/2011 12/13/2011 12/14/2011 $0.390 $0.000 $0.784 $0.112 $1.286
12/15/2010 12/16/2010 12/17/2010 $0.730 $0.000 $1.210 $0.000 $1.940
12/15/2009 12/16/2009 12/17/2009 $0.382 $0.000 $0.000 $0.000 $0.382
12/16/2008 12/17/2008 12/18/2008 $0.000 $0.000 $0.940 $0.117 $1.057
11/30/2021 12/01/2021 12/02/2021 $0.050 $0.000 $0.000 $0.000 $0.050
11/30/2020 12/01/2020 12/02/2020 $0.174 $0.000 $0.000 $0.000 $0.174
12/17/2019 12/18/2019 12/19/2019 $0.000 $0.000 $0.000 $0.000 $0.000
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2017 12/13/2017 12/14/2017 $0.000 $0.000 $0.000 $0.000 $0.000
12/13/2016 12/14/2016 12/15/2016 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2015 12/17/2015 12/18/2015 $0.000 $0.000 $0.000 $0.000 $0.000
12/15/2014 12/16/2014 12/17/2014 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2013 12/17/2013 12/18/2013 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2012 12/13/2012 12/14/2012 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2011 12/13/2011 12/14/2011 $0.159 $0.000 $0.784 $0.112 $1.055
12/15/2010 12/16/2010 12/17/2010 $0.560 $0.000 $1.210 $0.000 $1.770
12/15/2009 12/16/2009 12/17/2009 $0.276 $0.000 $0.000 $0.000 $0.276
12/16/2008 12/17/2008 12/18/2008 $0.000 $0.000 $0.940 $0.117 $1.057
11/30/2021 12/01/2021 12/02/2021 $0.282 $0.000 $0.000 $0.000 $0.282
11/30/2020 12/01/2020 12/02/2020 $0.384 $0.000 $0.000 $0.000 $0.384
12/17/2019 12/18/2019 12/19/2019 $0.018 $0.000 $0.000 $0.000 $0.018
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2017 12/13/2017 12/14/2017 $0.000 $0.000 $0.000 $0.000 $0.000
12/13/2016 12/14/2016 12/15/2016 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2015 12/17/2015 12/18/2015 $0.000 $0.000 $0.000 $0.000 $0.000
12/15/2014 12/16/2014 12/17/2014 $0.000 $0.000 $0.000 $0.000 $0.000
12/16/2013 12/17/2013 12/18/2013 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2012 12/13/2012 12/14/2012 $0.154 $0.000 $0.000 $0.000 $0.154
12/12/2011 12/13/2011 12/14/2011 $0.476 $0.000 $0.784 $0.112 $1.372
12/15/2010 12/16/2010 12/17/2010 $0.800 $0.000 $1.210 $0.000 $2.010
12/15/2009 12/16/2009 12/17/2009 $0.430 $0.000 $0.000 $0.000 $0.430
12/16/2008 12/17/2008 12/18/2008 $0.000 $0.000 $0.940 $0.117 $1.057
11/30/2021 12/01/2021 12/02/2021 $0.204 $0.000 $0.000 $0.000 $0.204
11/30/2020 12/01/2020 12/02/2020 $0.289 $0.000 $0.000 $0.000 $0.289
12/17/2019 12/18/2019 12/19/2019 $0.007 $0.000 $0.000 $0.000 $0.007
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.000 $0.000 $0.000 $0.000
11/30/2021 12/01/2021 12/02/2021 $0.249 $0.000 $0.000 $0.000 $0.249
11/30/2020 12/01/2020 12/02/2020 $0.366 $0.000 $0.000 $0.000 $0.366
12/17/2019 12/18/2019 12/19/2019 $0.000 $0.000 $0.000 $0.000 $0.000
11/30/2021 12/01/2021 12/02/2021 $0.254 $0.000 $0.000 $0.000 $0.254
11/30/2020 12/01/2020 12/02/2020 $0.381 $0.000 $0.000 $0.000 $0.381
12/17/2019 12/18/2019 12/19/2019 $0.017 $0.000 $0.000 $0.000 $0.017
11/30/2021 12/01/2021 12/02/2021 $0.309 $0.000 $0.000 $0.000 $0.309
11/30/2020 12/01/2020 12/02/2020 $0.398 $0.000 $0.000 $0.000 $0.398
12/17/2019 12/18/2019 12/19/2019 $0.033 $0.000 $0.000 $0.000 $0.033
12/11/2018 12/12/2018 12/13/2018 $0.000 $0.000 $0.000 $0.000 $0.000
12/12/2017 12/13/2017 12/14/2017 $0.000 $0.000 $0.000 $0.000 $0.000
  1. Disclosures

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

  3. 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.

  4. "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.

  5. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

Fund Information

Portfolio Composition
Fact Sheet
Holdings
Semi Annual Report
Statement of Additional Information

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

  2. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

  1. Risk Disclosures

  2. Investment in gold and gold-related investments present certain risks, including political and economic risks affecting the price of gold and other precious metals like changes in U.S. or foreign tax, currency or mining laws, increased environmental costs, international monetary and political policies, economic conditions within an individual country, trade imbalances and trade or currency restrictions between countries. The price of gold, in turn, is likely to affect the market prices of securities of companies mining or processing gold, and accordingly, the value of investments in such securities may also be affected. Gold related investments as a group have not performed as well as the stock market in general during periods when the U.S. dollar is strong, inflation is low and general economic conditions are stable. In addition, returns on gold related investments have traditionally been more volatile than investments in broader equity or debt markets. Investment in gold and gold related investments may be speculative and may be subject to greater price volatility than investments in other assets and types of companies.

  3. Strategies whose investments are concentrated in a specific industry or sector may be subject to a higher degree of risk than funds whose investments are diversified and may not be suitable for all investors.

  4. 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.

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

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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 (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle 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.