Overseas ADR Strategy Separately Managed Account (SMA)


Inception Date Jan 01, 2021

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

Why Invest?

Overseas ADR Strategy seeks capital appreciation by investing mainly in non-US corporations from developed or emerging markets, primarily through USD tradable securities, a majority of which are American Depository Receipts (ADRs.)

  • 07 longterm

    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.

  • 08 flexible

    Flexible, Benchmark-Agnostic Approach

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

  • Down side mitigation icon

    Seeks Downside Mitigation

    Our efforts to do no harm with a goal to avoid the permanent loss of capital result in a portfolio that has exposure to non-US equities purchased with what we believe to be 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. 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.

  4. 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.

  5. 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.

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  1. FEF Distributors, LLC (Member SIPC) distributes certain First Eagle products; it does not provide services to investors. As such, when FEF Distributors, LLC presents a strategy or product to an investor, FEF Distributors, LLC  does not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.