A pioneer in global investing, First Eagle was built on the notion that fundamental, bottom-up research helps uncover attrac­tive opportunities across markets worldwide—and that through active portfolio construction and management these opportunities can be leveraged for the potential benefit of clients in search of diversified sources of risk and return

The firm’s value heritage is rooted in the belief that the greatest risk facing investors is not day-to-day market volatility but rather the permanent impairment of capital, the leading cause of which is overpaying for assets. Avoiding this pitfall requires a deep understanding of the tangible and intangible attributes that drive the true value of the holdings in our portfolios. It also demands a willingness to selectively deviate from both traditional benchmarks and the conventional wisdom in pursuit of resilient portfolios that we believe will offer our clients the best potential for attractive real returns over full market cycles.

Though execution may differ by strategy, First Eagle’s portfolio management teams are united under a set of core investment tenets.