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Rating:First Eagle Adds a PM to a $34.5B Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 7, 2012

First Eagle Adds a PM to a $34.5B Fund

Reported by Neil Anderson, Managing Editor

First Eagle [profile] just added a third PM to a four-star, $34.5-billion mutual fund. Last week the New York City-based value manager revealed the promotion of Kimball Brooker to PM from associate PM for the First Eagle Global Fund, alongside Abhay Deshpande and Matthew McLennan.

Brooker, who previously served as chief investment officer of private equity firm Corsair Capital, is also one of three PMs for First Eagle Overseas and First Eagle Value.

"This is a natural progression for the firm, the team and for Kimball," said John Arnhold, chairman and chief investment officer for First Eagle.

Company Press Release


New York, NY (March 1, 2012) – First Eagle Investment Management, LLC (First Eagle), adviser to First Eagle Funds, announced the promotion of Kimball Brooker, Jr. to portfolio manager of First Eagle Global Fund. He joins Matthew McLennan and Abhay Deshpande, portfolio managers of the fund.

Previously, Brooker was associate portfolio manager of First Eagle Global Fund. He continues to be one of three portfolio managers of both the First Eagle Overseas Fund and the First Eagle U.S. Value Fund.

“We firmly believe that multiple points of view help us seek a margin of safety in an effort to preserve the purchasing power of our clients,” commented John Arnhold, First Eagle’s Chairman and CIO. “Our shareholders benefit from Kimball’s investment acumen and unwavering commitment to value investing. This is a natural progression for the firm, the team and for Kimball.”

According to McLennan, “The global value team has already benefited from Kimball’s informed and measured perspective. Kimball embodies the patient and prudent temperament that we believe is essential at First Eagle Investment Management. We are pleased to recognize him for his outstanding contribution and are confident that our shareholders will benefit from his added leadership responsibilities.”

Brooker has nearly 20 years of industry experience. He joined First Eagle in January 2009 as senior vice president and senior research analyst covering financials, commercial services and holding companies. Soon thereafter, he was named as a portfolio manager of First Eagle Overseas and U.S. Value Funds, and associate portfolio manager of First Eagle Global Fund.

“It is an honor to be a part of a portfolio management team at a firm with such a proven commitment to value investing,” commented Brooker. “I look forward to continuing to help our shareholders and clients preserve and grow their capital.”

Prior to joining First Eagle Investment Management, Brooker was the chief investment officer of Corsair Capital, a private equity firm that managed nearly $3 billion. He also held positions as a financial analyst at Lazard Frères & Co. and as an associate in J.P. Morgan’s investment banking department. He is a graduate of Yale University and earned his MBA from Harvard University.

The First Eagle family of funds, with $48.2 billion in assets as of December 31, 2011, includes First Eagle Global, Overseas, U.S. Value, Gold and High Yield Funds and First Eagle Fund of America. They provide a range of value-oriented investment options. While each fund has its own distinct investment mandate, all focus on seeking absolute returns by investing in sound businesses that are well-managed and represent a valuation margin of safety. For more information, visit www.firsteaglefunds.com .

First Eagle also offers absolute-return value-oriented strategies to pension funds, corporations, foundations, endowments and high-net-worth individuals.

First Eagle Investment Management
First Eagle Investment Management is an independent, closely held asset management firm with approximately $60 billion in assets under management as of December 31, 2011 and a heritage dating back to 1803. Over its long history, the firm has helped its clients to preserve capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. For more information, visit www.feim.com .

First Eagle Investment Management is the adviser to First Eagle Funds.

This is not an offer or solicitation of an offer to buy or sell any security, investment or other product.

Past performance does not guarantee future results. Market volatility can dramatically impact the fund’s short-term performance. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Past performance data through the most recent month end is available at firsteaglefunds.com or by calling 800.334.2143.

The First Eagle Funds are distributed by FEF Distributors, LLC, 1345 Avenue of the Americas, New York, New York 10105. Investors should consider the investment objectives, risks, charges, and expenses of a fund carefully before investing. The prospectus and summary prospectus contain this and other information about the fund, and may be obtained by contacting your financial adviser, visiting our website at firsteaglefunds.com or calling us at 800.334.2143. Please read the prospectus carefully before investing. Investments are not FDIC insured or bank guaranteed, and may lose value. 

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