Process & Strategies

Bottom-up security selection
The investment process at Arnhold and S. Bleichroeder Advisers is driven by independent, fundamental securities research. Our firm monitors a broad spectrum of industries and companies around the world. Our analysis often encompasses a company’s assets, earnings, sales, products, management, competitors, vendors, and customers. We believe in hands-on research; in evaluating retailers, for example, we often visit stores to count customers and price merchandise. We perform all of our own financial modeling and develop our own company projections.

Before buying a stock, our first consideration is the quality of the company and the dynamics of its business. Next, we look at valuation. Typically, we buy stocks that are selling at what we believe are discounts to their intrinsic value, but may also look for companies where we think event-driven catalysts are likely to result in a higher share price. A stock is sold if it reaches its intrinsic value, its investment thesis has changed, or we discover that our initial analysis was incorrect.

A range of products
We make our services available to retail investors, high-net-worth individuals, and institutional clients through a variety of platforms. Our products include mutual funds, foreign and domestic hedge funds, and separate institutional accounts.

The First Eagle family of mutual funds
The Global Fund, Overseas Fund, U.S. Value Fund, Gold Fund, and First Eagle Fund of America provide a complementary range of value-oriented investment options. While each fund has its own distinct investment mandate, all share a focus on what we believe are well-managed but undervalued or overlooked companies, as well as on special situations.

First Eagle Global Fund seeks long-term growth of capital by investing in a wide range of asset classes from markets in the United States and around the world. The investment team searches the globe for undervalued common stocks, bonds, preferred and convertible securities, and at times, real estate, and gold-related investments.

First Eagle Overseas Fund pursues long-term growth of capital by investing primarily in the equities of non-U.S. corporations. Holdings consist mainly of stocks that trade in established foreign markets, but can also include assets from emerging markets.

First Eagle U.S. Value Fund seeks long-term growth of capital by investing primarily in equities. We strive to minimize risk by focusing on securities issued by U.S. companies that we believe are undervalued by the market.

First Eagle Gold Fund seeks growth of capital. This fund provides exposure to the investment characteristics of gold and, to a limited extent, other precious metals. To achieve this objective, the fund invests primarily in securities of companies engaged in mining, processing, dealing in, or holding gold or other precious metals, both in the United States and in foreign countries.

First Eagle Fund of America is a non-diversified U.S. equity fund with a unique, event-driven bias. It focuses on identifying companies poised to benefit from change that the market has not yet recognized.

Alternative investment strategies and institutional accounts
Arnhold and S. Bleichroeder Advisers offers alternative investment strategies that seek to deliver absolute returns while enhancing portfolio diversification. Please contact us to learn more about these strategies.

 

 

All investments involve the risk of loss of capital. Alternative investments may be considered speculative. Our firm's investments are not FDIC insured or bank guaranteed and may lose value. Nothing herein should be construed as a solicitation, offer, or recommendation to buy or sell any security or an offer to provide advisory services.

First Eagle Funds are offered by First Eagle Funds Distributors, A Division of ASB Securities LLC, 1345 Avenue of the Americas, New York, NY 10105. For more complete information on the First Eagle Funds including fees, risks and expenses please obtain the fund prospectus by calling (800) 334-2143. Please read the prospectus carefully before investing.