EX-99.(D)(9) 11 c95956_ex-d9.htm

Exhibit (d)(9)

 

June 4, 2020

 

First Eagle Funds
1345 Avenue of the Americas
New York, NY 10105

 

Re: Investment Management Fee for First Eagle Fund of America (the “Fund”)

 

Dear First Eagle Funds:

 

This letter relates to the December 1, 2015 Investment Advisory Agreement (the “Agreement”) between First Eagle Funds, on behalf of the Fund, and First Eagle Investment Management, LLC (the “Investment Adviser”), which provides that the Fund will pay monthly an investment management fee at the annual rate of 1.00% of the first $1.5 billion of the average daily net assets of the Fund, 0.95% on the next $1 billion of the average daily net assets of the Fund, 0.90% on the next $2.5 billion of the average daily net assets of the Fund and 0.85% on the average daily net assets of the Fund in excess of $5 billion of the average daily net assets of the Fund.

 

Notwithstanding the foregoing or any agreement that amended the Agreement, we intend by this letter to bind the Investment Adviser to a modification of the Agreement to provide instead for the Fund to pay a monthly investment management fee at the annual rate of 0.50% of the average daily net assets of the Fund.

 

Pursuant to the Board’s approval of the Fund’s management fee change at the June 4, 2020 Board meeting, the Investment Adviser will consider itself to be bound to this changed rate as of the effective date of the Fund’s Registration Statement on Form N-1A. For the avoidance of doubt, this letter affects only the stated fee arrangement. No other provision of the Agreement is changed hereby.

 

    FIRST EAGLE INVESTMENT MANAGEMENT, LLC  
       
    By: /s/ Mehdi Mahmud  
    Name: Mehdi Mahmud  
    Title: President and Chief Executive Officer  

 

Agreed and Acknowledged:

 

FIRST EAGLE FUNDS

 

By:  /s/ Sheelyn Michael  
Name: Sheelyn Michael  
Title: Secretary