First Eagle Investments (“First Eagle”) has announced the launch of its first two active exchange-traded funds (ETFs): the First Eagle Global Equity ETF (FEGE) and the First Eagle Overseas Equity ETF (FEOE). Both ETFs are now listed on the New York Stock Exchange. These new offerings are designed to leverage First Eagle’s rigorous, bottom-up research methodology, which focuses on identifying high-quality stocks trading at discounts to their intrinsic value. This approach, championed by First Eagle’s Global Value team, aims to minimize the risk of permanent capital impairment while driving long-term growth.
ETF Details
First Eagle Global Equity ETF (FEGE)
The FEGE invests actively, allocating at least 80% of its assets to the equity of both US and non-US issuers. Under typical market conditions, at least 40% of its portfolio is directed toward non-US stocks. The ETF is managed by members of First Eagle’s Global Value team, including Co-Heads Matt McLennan and Kimball Brooker, alongside Julien Albertini, Manish Gupta, and Adrian Jones.
First Eagle Overseas Equity ETF (FEOE)
The FEOE concentrates on non-US equities, with at least 80% of its assets invested outside the US under normal market conditions. Its portfolio management team comprises McLennan, Brooker, Jones, Alan Barr, and Christian Heck.
Strategic Vision
“These active equity ETFs harness the power of First Eagle’s pioneering approach to global investing and provide investors with fully invested exposure to the Global Value team’s stock selection capabilities,” said Frank Riccio, Head of US Wealth Solutions and Strategic Relationships. “As investors seek greater tax efficiency and vehicle flexibility, our goal is to empower financial advisors with a broad range of enduring solutions that help meet their clients’ evolving needs.”
Collaboration with RBB Fund Complex
First Eagle partnered with the RBB Fund Complex (“RBB”), the oldest operating multi-series trust in the ETF industry, to bring FEGE and FEOE to market. Steve Plump, CEO of RBB, expressed enthusiasm about the collaboration: “We believe active ETFs will power the future growth of the expanding ETF market, and we are thrilled to assist a prestigious firm like First Eagle in entering the space for the first time.”
A Milestone for First Eagle
The launch of these active ETFs represents a significant milestone in First Eagle’s history. It underscores the firm’s dedication to delivering enduring investment solutions while adapting to the evolving needs of investors. By expanding its suite of offerings to include ETFs, First Eagle reinforces its commitment to quality and value, which have been the hallmarks of its investment philosophy across a variety of vehicles, including mutual funds, private funds, separately managed accounts, interval funds, business development companies, collective investment trusts, collateralized loan obligations, and UCITS funds.
