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 obtained by visiting our website at www.firsteagle.com or calling us at 800-334-2143. Please read our prospectus carefully before investing. Investments are not FDIC insured or bank guaranteed, and may lose value.

Consuelo Mack is not a representative or affiliated with First Eagle Investments. The opinions and views expressed by Consuelo Mack are her own and not those of First Eagle Investments.

The opinions expressed are not necessarily those of First Eagle Investments. These materials are provided for informational purpose 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 or an offer to buy, hold or sell or the solicitation of an offer to buy or sell any fund or security. First Eagle Investments’s portfolios are actively managed and holdings can change at any time. Current and future portfolio holdings are subject to risk. The information in this piece is not intended to provide and should not be relied on for accounting, legal, and tax advice.

Source: FactSet as of January 26, 2024.

Indices are unmanaged and do not incur management fees or other operating expenses. One cannot invest directly in an index.

MSCI World Index (Net) measures the performance of large and midcap securities across 23 developed markets countries. The index provides total returns in U.S. dollars with net dividends reinvested. A Net Return Index tracks price changes and reinvestment of distribution income net of withholding taxes.

S&P 500 Index is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States.

Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Price-to-earnings ratio (or P/E ratio) is a valuation metric that divides a company’s current stock price by its earnings per share.

“Intrinsic value” is based on our judgment of what a prudent and rational business buyer would pay in cash for all of the company in normal markets.

The specific securities identified and described are not representative of all of the securities purchased, sold, or recommended for client accounts. It should not be assumed that an investment in the securities identified has or will be profitable. 

The holdings mentioned herein represent the following percentages of the total net assets of the First Eagle Funds as of December 31, 2023:

First Eagle Global Fund: Meta(2.9%), Oracle(2.8%), Apple(0.0%), Fanuc(0.9%), Ambev(0.8%), Prosus(0.9%), Exxon(1.9%)  First Eagle Overseas Fund: Meta(0.0%), Oracle(0.0%), Apple(0.0%), Fanuc(1.6%), Ambev(1.7%), Prosus(1.3%), Exxon(0.0%)

©2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Ratings are relative to a peer group and do not necessarily mean that the fund had high total returns. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar Risk-Adjusted Ratings as of December 31, 2023: US Global Allocation Category, First Eagle Global Fund Class I Share, Overall rating 5 stars, three-year 4 stars out of 378 funds, five-year 5 stars out of 354 funds, ten-year 5 stars out of 254 funds. Different share classes may have different ratings.

Risk Disclosures

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.

Investment in gold and 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.

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. All investments involve the risk of loss of principal.

All investments involve the risk of loss of principal.

FEF Distributors, LLC (“FEFD”) (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy, or product. First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers.

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

© 2024 First Eagle Investment Management, LLC. All rights reserved.