0000930413-14-001186.txt : 20140619 0000930413-14-001186.hdr.sgml : 20140619 20140307162836 ACCESSION NUMBER: 0000930413-14-001186 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST EAGLE FUNDS CENTRAL INDEX KEY: 0000906352 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 212-698-3393 MAIL ADDRESS: STREET 1: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: FIRST EAGLE FUNDS INC DATE OF NAME CHANGE: 20030103 FORMER COMPANY: FORMER CONFORMED NAME: FIRST EAGLE SOGEN FUNDS INC DATE OF NAME CHANGE: 20000403 FORMER COMPANY: FORMER CONFORMED NAME: SOGEN FUNDS INC DATE OF NAME CHANGE: 19930714 CORRESP 1 filename1.htm

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ngreene@shearman.com (212) 848-4668	March 7, 2014

Anu Dubey
U.S. Securities and Exchange Commission
Office of Disclosure and Review
Division of Investment Management
100 F Street, N.E.
Washington D.C. 20549

First Eagle Flexible Risk Allocation Fund (the “Fund”)

File Nos. 033-63560 and 811-762

Dear Ms. Dubey:

Thank you for your comments regarding the registration statement on Form N-1A of the Fund as originally filed with the Securities and Exchange Commission on September 17, 2013. In response to your comments regarding the Fund’s asset coverage policy for credit default swaps, the Fund will revise its registration statement to convey that when it sells protection under a credit default swap, it will segregate or otherwise earmark on its books the full notional amount of its exposure under the swap. Further, at your request, we will revise the registration statement’s fee table to specify which expenses are included in, as well as excluded from, the “total annual operating expenses” line item for purposes of the fee waiver and expense reimbursement commitment. These changes will be reflected in a 485(b) filing, which we plan to make concurrent with the Fund’s registration statement becoming automatically effective later this month.

We hope that you have found this summary helpful. Should you have any follow-up questions concerning this letter, please do not hesitate to contact me at (212) 848-4668.

Sincerely,

/s/ Nathan Greene
Nathan Greene (as attorney for the Fund)

SHEARMAN & STERLING LLP IS A LIMITED LIABILITY PARTNERSHIP ORGANIZED IN THE UNITED STATES UNDER THE LAWS OF THE STATE OF DELAWARE, WHICH LAWS LIMIT THE PERSONAL LIABILITY OF PARTNERS.

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