First Eagle in the News

Bill Hench Interview with CityWire

Bill Hench Interview with CityWire

Bill Hench discusses finding inefficiently valued assets as well as the impact of M&A activity on the small cap market.

 

Risk & Reward Profile and Disclosures

ICAV R&R Chart6

 

 

 

 

 

  • Historical data may not be a reliable indication for the future.

  • The risk category shown is not guaranteed and may shift over time.

  • The lowest category does not mean 'risk free'. With a category 6 fund, the risk of losing your money is higher but there is also a chance of making higher gains.

  • The Fund is in category 6 because of the above average range and frequency of price movements of the underlying investments

The indicator does not take account of the following risks of investing in the Fund: 

  • Small and Micro Size Company Risk: The Fund may invest in small and micro-size companies, which historically have been more volatile in price than larger company securities, especially over the short term. Positions in small and micro-size companies also may be more difficult or expensive to trade. Among the reasons for the greater price volatility are the less certain growth prospects of small and micro-size companies, the lower degree of liquidity in the markets for such securities and the greater sensitivity of small and micro-size companies to changing economic conditions.

  • Investment Risk: The value of investments held in the Fund and the income from them may rise or fall. The Fund may not achieve its investment objective.

  • Market Risk: As the Fund invests in company shares, it runs the risk that the market price of those shares will decline. That decline may be attributable to factors affecting the issuer of the shares or to general market conditions. 

  • Liquidity Risk: The Fund may be adversely affected by a decrease in market liquidity for the securities in which it invests which may impair the Fund’s ability to execute transactions. In such circumstances, the Fund’s securities may become illiquid which may mean that the Fund may experience difficulties in selling securities at a fair price within a timely manner. Reduced liquidity of the Fund’s investment may result in a loss in value to the Fund.

  • Value Investment Risk: The Fund may invest in value stocks, which presents the risk that such securities may never reach what are believed to be their full market values or may decline in value.

  • For a full list of possible risk factors, please see section entitled “Risk Factors” in the Prospectus.

Investment in the Fund involves significant risks, and there can be no assurance that the Fund’s investment objectives will be achieved. There may occur potential or actual conflicts of interest involving First Eagle and the Fund and its investments. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Other influential factors include pandemics and epidemics, political or economic news, company earnings and significant corporate events. Investing globally can bring additional returns and diversify risk, but currency exchange rate fluctuations may have a positive or negative impact on the value of your investment. These factors can affect Fund performance. Prospective investors should not acquire Shares if the investor anticipates that it will have a need for the funds contributed to the Fund prior to the times that redemptions are permitted. An investment in the Fund should be viewed as a long-term investment. A complete description of the risks of investing in the Fund can be found in the Key Investment Information Document(s) (“KIIDs”), the Prospectus and the Fund-specific supplement.

Important Information

The Fund was launched on 17 February 2022, performance will be shown after a full calendar year. The First Eagle US Small Cap Opportunities Fund (the “Fund”) is a sub-fund of First Eagle Funds (Ireland) ICAV (the “ICAV”), an Irish collective asset-management vehicle with variable capital constituted as an umbrella fund with segregated liability between its sub-funds under the laws of Ireland (registered number 445369), and is authorized and regulated by the Central Bank of Ireland as an Undertaking for Collective Investments in Transferable Securities (“UCITS”). Authorization of the ICAV by the Central Bank of Ireland (the “Central Bank”) is not an endorsement or guarantee nor is the Central Bank responsible for the contents of any marketing material or the prospectus of the ICAV, as amended and/or supplemented from time to time (collectively, the “Prospectus”). Authorization by the Central Bank shall not constitute a warranty as to the performance of the ICAV and the Central Bank shall not be liable for the performance of the ICAV.

Shares of the Fund (the “Shares”) are only available for certain non-U.S. persons in select transactions outside the United States, or, in limited circumstances, otherwise in transactions which are exempt in reliance on Regulation S from the registration requirements of the United States Securities Act of 1933, as amended and such other laws as may be applicable. This document does not constitute an offer to subscribe for shares in the Fund. Any offer or solicitation will only be made pursuant to the Prospectus, which qualifies in its entirety the information set forth herein. The offering or sale of Shares may be restricted in certain jurisdictions. For information regarding jurisdictions in which the Fund is registered or passported, please contact your First Eagle sales representative. Shares may be sold on a private placement basis depending on the jurisdiction. This document should not be used or distributed in any jurisdiction, other than those in which the Fund is authorized, where authorization for distribution is required. First Eagle Investment Management, Ltd. (the “Distributor”) is authorized by the ICAV to facilitate the distribution of Shares in certain jurisdictions through dealers, referral agents, sub-distributors and other financial intermediaries. Any entity forwarding this material to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.

Nothing contained herein constitutes investment advice and neither First Eagle Investment Management, LLC nor the Distributor (collectively, “First Eagle”) are carrying out any financial advisory services and not acting as the financial adviser to any investor or potential investor or in any fiduciary capacity. Any forecasts made, or opinions expressed on the economy, stock market or economic trends of the markets are definitely not indicative of future or likely performance or any guarantee of returns. First Eagle accepts no liability and responsibility, whatsoever, for any direct or consequential loss arising from any use of or reliance on this material. First Eagle believes that the information contained herein is based on underlying sources and data that are reliable but makes no guarantee as to its adequacy, accuracy, timeliness or completeness. This material is provided on an “as is” and “as available” basis and subject to change, of whatsoever form and nature, at any time without notice. Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Unless otherwise stated, all information contained in this material is as of 31 October 2022.

The opinions expressed are not necessarily those of the firm. These materials are provided for informational purposes only. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Any statistics contained herein have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed. The views expressed herein may change at any time subsequent to the date of issue hereof. The information provided is not to be construed as a recommendation to buy, hold or sell or the solicitation or an offer to buy or sell any fund or security.

Past performance is not indicative of future results.
First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers.

© 2022 First Eagle Investment Management, LLC. All rights reserved.

Important Information for Non-US Residents
This material and the information contained herein is provided for informational purposes only, does not constitute and is not intended to constitute an offer of securities, and accordingly should not be construed as such. Any funds or other products or services referenced in this material may not be licensed in all jurisdictions and unless otherwise indicated, no regulator or government authority has reviewed this document or the merits of the products and services referenced herein. This material and the information contained herein has been made available in accordance with the restrictions and/or limitations implemented by any applicable laws and regulations. This material is directed at and intended for institutional investors (as such term is defined in any applicable jurisdiction). This material is provided on a confidential basis for informational purposes only and may not be reproduced in any form. This material is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this material does not take into account the specific investment objectives, financial situation, tax situation or particular needs of the recipient. Before acting on any information in this material, prospective investors should inform themselves of and observe all applicable laws, rules and regulations of any relevant jurisdictions and obtain independent advice if required. This material is for the use of the named addressee only and should not be given, forwarded or shown to any other person (other than employees, agents or consultants in connection with the addressee’s consideration thereof).

Important Information for Residents of Austria
The Fund is registered for public offer and sale in Austria. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the German language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Information for Residents of Belgium
The Fund is registered for public offer and sale in Belgium. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the French language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of France
The Fund is registered for public offer and sale in France. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the French language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Germany
The Fund is registered for public offer and sale in Germany. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) applicable KIIDs (available in the German language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Ireland
This presentation and the information contained herein does not constitute and is not intended to constitute an offer of securities and accordingly should not be construed as such. Any products or services referenced in this presentation may not be licensed nor registered in all jurisdictions, including in South Korea, and unless otherwise indicated, no regulator or government authority, including in South Korea, has reviewed this document or the merits of the products and services referenced herein. This presentation and the information contained herein have been made available in accordance with the restrictions and/or limitations implemented by any applicable laws and regulations. This presentation is directed at and intended for “Qualified Institutional Investors” (as such term is defined in South Korea). This presentation is provided on a confidential basis for informational purposes only and may not be reproduced in any form. Before acting on any information in this presentation, prospective investors should inform themselves of and observe all applicable laws, rules and regulations of any relevant jurisdictions and obtain independent advice if required. This presentation is for the use of the named addressee only and should not be given, forwarded or shown to any other person (other than employees, agents or consultants in connection with the addressee’s consideration thereof).

Important Information for Residents of Italy
The Fund is available only to institutional investors in Italy. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDS (available in the Italian language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Luxembourg
The Fund is registered for public offer and sale in Luxembourg. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the English language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of The Netherlands
The Fund is registered for public offer and sale in the Netherlands. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the Dutch language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Portugal
The Fund is registered for public offer and sale in Portugal. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the Portuguese language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Spain
The Fund is registered for public offer and sale in Spain. Additional information about the Fund may be found in the Prospectus and Supplement (available in the English language) and applicable KIIDs (available in the Spanish language). These documents, as well as the annual and semi-annual reports, may be obtained free of charge from FE fundinfo (Luxembourg) S.à.r.l., 77 Rue du Fossé, 4123 Esch-sur-Alzette, Luxembourg, email: fa_gfr@fefundinfo.com.

Important Information for Residents of Switzerland
This is an advertising document. The state of the origin of the First Eagle Funds (Ireland) ICAV is Ireland. In Switzerland, the representative is ACOLIN Fund Services AG, Leutschenbachstrasse 50, CH-8050 Zurich, and the paying agent is NPB Neue Privat Bank AG. The prospectus, the key information documents or the key investor information documents, the instrument of incorporation and the annual and semi-annual reports may be obtained free of charge from the representative. Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units.

Important Information for Residents of United Kingdom
This document is issued by First Eagle Investment Management, LLC and is lawfully distributed in the United Kingdom by First Eagle Investment Management, Ltd. First Eagle Investment Management, Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 798029) in the United Kingdom. This document is directed only at persons in the United Kingdom who qualify as “professional investors.” This document is not directed at any persons in the United Kingdom who would qualify as “retail investors” within the meaning of the UK Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773) or the EU Packaged Retail and Insurance-based Investment Products Regulation (No 1286/2014), the UK PRIIPs Regulation, and such persons may not act or rely on the information in this document.