Global Separately Managed Account (SMA) Strategy

Inception Date Jan 01, 2023

Seeks to deliver sound real returns while avoiding the permanent impairment of capital.

Investment Philosophy

First Eagle Global SMA strategy seeks to deliver sound real returns while avoiding the permanent impairment of capital over time by using a value approach to investing in equity securities issued by US and non-US corporations through USD tradeable securities, including American Depositary Receipts (ADRs).

  • Focus on Long-Term Growth

    We seek to avoid the permanent impairment of capital and potentially generate long-term attractive investment returns across market cycles.

  • Flexible, Benchmark-Agnostic Approach

    The portfolio has the ability to invest across asset classes, regions, sectors/industries, market-capitalization ranges, and without regard to a benchmark.

  • Seeks Downside Mitigation

    The goal to avoid the permanent impairment of capital results in a portfolio of what we believe are resilient businesses purchased with a “margin of safety” in price.

Portfolio Management

  1. Disclosures

  2. 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.

  3. 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.

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  1. Risk Disclosures

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

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

  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. Investment in 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.

  6. A 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. “Value” investments, as a category, or entire industries or sectors associated with such investments, may lose favor with investors as compared to those that are more “growth” oriented.

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  1. 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.