0000930413-21-000980.txt : 20210430 0000930413-21-000980.hdr.sgml : 20210430 20210430090512 ACCESSION NUMBER: 0000930413-21-000980 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210430 DATE AS OF CHANGE: 20210430 EFFECTIVENESS DATE: 20210430 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: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-63560 FILM NUMBER: 21874104 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 0000906352 S000011211 First Eagle Global Fund C000030894 Class A SGENX C000030895 Class I SGIIX C000030896 Class C FESGX C000179763 Class R3 EARGX C000179764 Class R4 EAGRX C000179765 Class R5 FRGLX C000179766 Class R6 FEGRX 0000906352 S000011212 First Eagle Overseas Fund C000030897 Class A SGOVX C000030898 Class I SGOIX C000030899 Class C FESOX C000179767 Class R3 EAROX C000179768 Class R4 FIORX C000179769 Class R5 FEROX C000179770 Class R6 FEORX 0000906352 S000011213 First Eagle U.S. Value Fund C000030900 Class A FEVAX C000030901 Class I FEVIX C000030902 Class C FEVCX C000179771 Class R4 FIVRX C000179772 Class R5 FERVX C000179773 Class R6 FEVRX C000179774 Class R3 EARVX 0000906352 S000011214 First Eagle Gold Fund C000030903 Class A SGGDX C000030904 Class I FEGIX C000030905 Class C FEGOX C000179775 Class R3 EAURX C000179776 Class R4 FIURX C000179777 Class R5 FERUX C000179778 Class R6 FEURX 0000906352 S000011215 First Eagle Fund of America C000030906 Class Y FEAFX C000030907 Class C FEAMX C000030908 Class A FEFAX C000124490 Class I FEAIX C000179779 Class R3 EARFX C000179780 Class R4 EAFRX C000179781 Class R5 FERFX C000179782 Class R6 FEFRX 0000906352 S000035180 First Eagle High Income Fund C000108220 Class A FEHAX C000108221 Class C FEHCX C000108222 Class I FEHIX C000179783 Class R3 EARHX C000179784 Class R4 FIHRX C000179785 Class R5 FERHX C000179786 Class R6 FEHRX 0000906352 S000035750 First Eagle Global Income Builder Fund C000109583 Class A FEBAX C000109584 Class C FEBCX C000109585 Class I FEBIX C000179787 Class R3 FBRRX C000179788 Class R4 FIBRX C000179789 Class R5 EABRX C000179790 Class R6 FEBRX 497 1 c101653_497.htm

FIRST EAGLE FUNDS

 

First Eagle Global Fund

First Eagle Overseas Fund

First Eagle U.S. Value Fund

First Eagle Gold Fund

First Eagle Global Income Builder Fund

First Eagle High Income Fund

First Eagle Fund of America

 

1345 AVENUE OF THE AMERICAS

NEW YORK, NEW YORK 10105

(800) 334-2143

 

SUPPLEMENT DATED APRIL 30, 2021

TO STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 1, 2021

 

Effective May 1, 2021, the following portfolio manager additions are implemented for each Fund as indicated below. The information is included (and if inconsistent, replaces) the information included in the section entitled “Investment Advisory and Other Services—Portfolio Managers.” Please review these matters carefully.

Matthew McLennan, Kimball Brooker Jr., Manish Gupta and Julien Albertini manage the Global Fund. Matthew McLennan, Kimball Brooker Jr., Christian Heck and Al Barr manage the Overseas Fund. Matthew McLennan, Kimball Brooker Jr., Matthew Lamphier and Mark Wright manage the U.S. Value Fund. Matthew McLennan, Thomas Kertsos and Max Belmont manage the Gold Fund. Kimball Brooker, Jr., Edward Meigs, Sean Slein, Julien Albertini and Idanna Appio manage the Global Income Builder Fund. Edward Meigs and Sean Slein manage the High Income Fund. Julien Albertini, Manish Gupta and Christian Heck manage Fund of America. Each of these portfolio managers receives significant input and support from a team of investment professionals.

 

Portfolio Manager Number of
Registered
Investment
Companies
Managed and
Total Assets for
such Accounts*		 Beneficial Ownership
of Equity Securities
in Funds Managed by
each Portfolio Manager
(Not including incentive-plan awards)**		 Number of
Other Pooled
Investment
Vehicles
Managed and
Total Assets for
such Accounts		 Number of
Other
Accounts
Managed and
Total Assets
for such
Accounts
Matthew McLennan   5 accounts with assets  
of  $65.7 billion		  

Global Fund

Overseas Fund

U.S. Value Fund

Gold Fund

  

Over $1,000,000

Over $1,000,000

Over $1,000,000

Over $1,000,000

   7 accounts with assets  
of  $11.9 billion		   13 accounts with
assets of $6.7 billion
Kimball Brooker, Jr   5 accounts with assets  
of $64.8 billion		  

Global Fund

Overseas Fund

U.S. Value Fund

Global Income Builder Fund

  

Over $1,000,000

Over $1,000,000

Over $1,000,000

Over $1,000,000

   8 accounts with assets  of  $14.7 billion   13 accounts with
assets of $6.7 billion
Matthew Lamphier   1 account with assets
of $1.2 billion		   U.S. Value Fund   Over $1,000,000   None   None
Thomas Kertsos   1 account with assets
of $2.2 billion		   Gold Fund   $10,001-$50,000   1 account with assets
of $0.1 billion		   None
Edward Meigs   2 accounts with assets
of $1.5 billion		  

Global Income Builder Fund

High Income Fund

  

$500,001-$1,000,000

$500,001-$1,000,000

   2 accounts with assets
of $2.9 billion		  

1 account with assets

of $0.1 billion

Sean Slein   2 accounts with assets  

Global Income Builder

 

$100,001-$500,000

   2 accounts with assets   1 account with assets of

 

 

 

Sean Slein   of $1.5 billion  

Fund

High Income Fund

  

$100,001-$500,000

   of $2.9 billion   $0.1 billion
Julien Albertini****   3 accounts with assets
of $49.0 billion		  

Global Income Builder
Fund

Fund of America

Global Fund

  

$100,001-$500,000

 

None

$500,001-$1,000,000

   1 account with assets
of $30.7 million		   None
Manish Gupta****   2 accounts with assets
of $47.8 billion		  

Fund of America

Global Fund

  

None

None

   None   None
Christian Heck****   2 accounts with assets
of $15.3 billion		  

Fund of America

Overseas Fund

  

None

$50,001-$100,000

   None   None
Max Belmont***   1 account with assets
of $2.2 billion		   Gold Fund   None   1 account with assets of $0.1 billion   None
Al Barr****   1 account with assets
of $14.8 billion		   Overseas Fund   Over $1,000,000   None   None
Mark Wright****   1 account with assets
of $1.2 billion		   U.S. Value Fund  

$100,001-$500,000

 

   None   None
Idanna Appio****   1 account with assets
of $1.3 billion		   Global Income Builder
Fund		   None   None   None

 

*The data provided herein includes the Funds and the First Eagle Variable Funds, where applicable.

 

**Beneficial ownership shown in the table does not reflect certain awards to the portfolio managers made under the Adviser’s long-term incentive plan. Those awards are described in a separate table below.

 

*** Mr. Belmont began managing Gold Fund in March 2021. The information is provided as of December 31, 2020.

 

**** The information is provided as of March 31, 2021.

 

Portfolio Manager   Beneficial Ownership
of Equity Securities
in the Funds
Managed by Each
Portfolio Manager
(Including
incentive-plan awards)
Matthew McLennan   Global Fund   Over $1,000,000
    Overseas Fund   Over $1,000,000
    U.S. Value Fund   Over $1,000,000
    Gold Fund   Over $1,000,000
Kimball Brooker, Jr   Global Fund   Over $1,000,000
    Overseas Fund   Over $1,000,000
    U.S. Value Fund   Over $1,000,000
    Global Income Builder Fund   Over $1,000,000
Matthew Lamphier   U.S. Value Fund   Over $1,000,000
Thomas Kertsos   Gold Fund   $500,001-$1,000,000
Edward Meigs   Global Income Builder Fund   $500,001-$1,000,000
    High Income Fund   $500,001-$1,000,000
Sean Slein   Global Income Builder Fund   $500,001-$1,000,000
    High Income Fund   $500,001-$1,000,000
Julien Albertini**   Global Income Builder Fund   Over $1,000,000
   

Fund of America

  

None

   

Global Fund

  

Over $1,000,000

Manish Gupta**   Fund of America   $500,001-$1,000,000
    Global Fund   Over $1,000,000
Christian Heck**   Fund of America   None
    Overseas Fund   $101,000-$500,000
Max Belmont*   Gold Fund   $50,001-$100,000
Al Barr**   Overseas Fund   Over $1,000,000
Mark Wright**   U.S. Value Fund   $101,000-$500,000
Idanna Appio**   Global Income Builder Fund   $50,001-$100,000

 

 

  
           

 

*Mr. Belmont began managing Gold Fund in March 2021. The information is provided as of December 31, 2020.
**The information is provided as of March 31, 2021.

 

As of March 31, 2021, with respect to the accounts identified in the table above, Mr. Albertini manages one pooled investment vehicle with assets totaling $30.7 million for which the advisory fees are

 

 

based in part on the performance of the account and no managed accounts for which the advisory fees are based in part on the performance of the account.

 

As of March 31, 2021, with respect to the accounts identified in the table above, Mr. Gupta does not manage any accounts for which the advisory fees are based in part on the performance of the account.

 

As of March 31, 2021, with respect to the accounts identified in the table above, Mr. Heck does not manage any accounts for which the advisory fees are based in part on the performance of the account.

As of March 31, 2021, with respect to the accounts identified in the table above, Mr. Barr does not manage any accounts for which the advisory fees are based in part on the performance of the account.

As of March 31, 2021, with respect to the accounts identified in the table above, Mr. Wright does not manage any accounts for which the advisory fees are based in part on the performance of the account.

As of March 31, 2021, with respect to the accounts identified in the table above, Ms. Appio does not manage any accounts for which the advisory fees are based in part on the performance of the account.

 

Performance fees for a particular account of the Adviser do not accrue to any particular portfolio manager. Portfolio manager compensation consists of salary and an annual bonus, with the performance bonus representing an important portion of total compensation. The bonus is awarded in the firm’s discretion and generally will reflect the investment performance of each Fund and any other account managed by each portfolio manager, the financial results of the firm as a whole, and the portfolio manager’s contributions to the firm both as an individual and as a member of the firm’s Global Value Team. The bonus may include an award under a long-term incentive plan established by the firm, which may be notionally allocated among certain of the First Eagle Funds, including those managed by such portfolio manager (and possibly other notional investments related to the Adviser’s overall financial performance), or such other long-term or deferred performance-based plan that may be established by the firm. Additionally, each of Messrs. McLennan, Brooker, Lamphier, Kertsos, Meigs, Slein, Albertini, Gupta, Heck Belmont, Barr, Wright and Appio have received profit interests, which make them eligible, subject to customary vesting arrangements, for a share of the profits of the Adviser. Profits for this purpose are calculated firm-wide and therefore relate to investment products and business lines beyond those managed by the particular portfolio manager. Likewise, any notional incentive plan awards that relate to the Adviser’s overall financial performance will give the recipient exposure to results that relate to products and business lines beyond those managed by the recipient.

 

In addition, Kimball Brooker, Jr. joins Matthew McLennan as a Co-Head of the First Eagle Global Value Team. Accordingly, Kimball Brooker, Jr. and Matthew McLennan are each referred to as Co-Head of the First Eagle Global Value Team.

 

*       *       *       *

The information in this Supplement modifies the First Eagle Funds’ Statement of Additional Information dated March 1, 2021. Except as noted above, no other provisions of the Statement of Additional Information are modified by this Supplement.