Core Plus Municipal Separately Managed Account (SMA)

Disclosures

First Eagle Separate Account Management, LLC (“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.

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

The information is not intended to provide and should not be relied on for accounting or tax advice. Any tax information presented is not intended to constitute an analysis of all tax considerations.

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 or an offer to buy or sell or the solicitation of an offer to buy or sell any fund or security. 

Past performance is not indicative of future results.

Individual strategies will have specific risks related to their investments

Risk Disclosures

Municipal bonds are subject to credit risk, interest rate risk, liquidity risk, and call risk. However, the obligations of some municipal issuers may not be enforceable through the exercise of traditional creditors’ rights. The reorganization under federal bankruptcy laws of a municipal bond issuer may result in the bonds being cancelled without payment or repaid only in part, or in delays in collecting principal and interest.

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

The information is not intended to provide and should not be relied on for accounting or tax advice. Any tax information presented is not intended to constitute an analysis of all tax considerations.

 All investments involve the risk of loss of principal.

The Strategy invests in high yield, fixed income securities that, at the time of purchase, are non-investment grade. High yield, lower rated securities involve greater price vola­tility and present greater risks than high rated fixed income securities. High yield securities are rated lower than investment-grade securities because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. High yield securities involve greater risk than higher rated securities and portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not.
 
The information is not intended to provide and should not be relied on for accounting or tax advice. You should consult your tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences to you of an investment in the SMA.

The First Eagle Core Plus Municipal Separately Managed Account (SMA) Strategy is new and may not be successful under all future market conditions.

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 Separate Account Management, LLC (“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. 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.

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.