First Eagle Global Income Builder Fd Cl I
FEBIX
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- First Eagle Global Income Builder Fund Class I (FEBIX) is an open-end mutual fund that seeks current income generation and long-term capital growth by investing primarily in dividend-yielding common stocks of U.S. and foreign companies; a range of fixed-income securities including corporate bonds, U.S. Treasury obligations, foreign government securities, asset-backed securities, municipal bonds, and loan assignments; commodities such as gold bullion; preferred stocks, convertible preferred stocks, and master limited partnerships; as well as short-term investments. The fund maintains a diversified portfolio with allocations typically encompassing approximately 63% common stocks, 11% corporate bonds, 9% U.S. Treasury obligations, 8% commodities, and smaller positions in other asset classes, with top sectors including consumer staples (around 23%), financials, and energy, and key geographic exposures to the United States (around 50%), United Kingdom, Canada, Switzerland, and South Korea. Launched on May 1, 2012, and domiciled in the United States, FEBIX is managed by First Eagle Investment Management, LLC, with a portfolio management team led by Kimball Brooker (since 2016), Julien Albertini (since 2019), and Idanna Appio (since 2021); the fund targets institutional investors with a minimum initial investment of $1,000,000 and carries a net expense ratio of 0.96%. As of April 30, 2025, net assets stood at approximately $1.87 billion, with a portfolio turnover rate of 7.34% and 265 holdings, including top positions in gold bullion (8.4%), British American Tobacco plc (3.1%), Unilever plc (2.9%), Nestle SA (2.5%), and Philip Morris International Inc. (2.2%). In a significant recent development, on March 3, 2025, First Eagle Holdings, Inc., the parent company of the fund's investment adviser, announced a definitive agreement for funds managed by Genstar Capital to acquire a majority interest, buying out existing stakes held by Blackstone Inc., Corsair Capital LLC, and related co-investors; the transaction, expected to close in the second half of 2025 pending regulatory approvals and consents, will not alter the fund's portfolio management, investment objectives, or policies. The fund paid ordinary income dividends and capital gains distributions on December 5, 2025.