Latest news with #JohnMiller
Yahoo
23-07-2025
- Business
- Yahoo
First Eagle Short Duration High Yield Municipal Fund Surpasses $1 Billion in Assets
The firm's municipal bond platform tops $8 billion; expansion includes previously launched tactical municipal opportunities interval fund NEW YORK, July 23, 2025--(BUSINESS WIRE)--First Eagle Investments ("First Eagle") today announced that the First Eagle Short Duration High Yield Municipal Fund (I Shares: FDUIX; A Shares: FDUAX; R6 Shares: FDURX) surpassed $1 billion in total assets as of June 30, 2025. Launched in January 2024, the fund's growth reflects sustained investor interest in short duration, tax-advantaged income strategies in what remains a dynamic interest rate environment. First Eagle's broad municipal bond platform now exceeds $8 billion in assets. The firm's offerings in this space were recently expanded by the June launch of the First Eagle Tactical Municipal Opportunities Fund (Class I: FTAIX), an interval fund designed to provide access to opportunistic strategies across the municipal credit spectrum. John Miller, Head and Chief Investment Officer of First Eagle's Municipal Credit team, commented, "Reaching this level of growth in a relatively short time speaks to the power of our disciplined, research-driven approach. We focus on our goal of rigorous credit work, active surveillance and selective positioning to build resilient portfolios that generate tax-exempt income without compromising quality or discipline." He added, "The successful launch of the Tactical Municipal Opportunities Fund last month demonstrates the flexibility and depth of our platform and our commitment to offering investors differentiated, opportunistic exposures. That flexibility is further reinforced by the continued growth of our flagship First Eagle High Yield Municipal Fund (FEHIX), which recently surpassed $7 billion in assets, underscoring the strength and resilience of our municipal bond strategies across market cycles." Frank Riccio, Head of US Wealth Solutions, noted: "Investor appetite for tax-aware income solutions continues to grow, and advisors choose carefully when selecting a manager. We're pleased to see the Short Duration High Yield Municipal Fund cross the $1 billion milestone and look forward to supporting our clients' evolving income needs with our growing municipal product suite." Carl Katerndahl, Chief Operating Officer of the Municipal Credit team, concluded: "The rapid expansion of our Municipal Bond platform reflects the confidence our clients have placed in John Miller and First Eagle. Together, we've built a highly skilled team of senior analysts and traders who are advancing our shared vision of delivering meaningful results in municipal credit." As of June 30, 2025, the First Eagle Short Duration High Yield Municipal Fund's 30-day SEC yield stood at 5.12% for Class I shares, with a taxable-equivalent yield as high as 8.65% for investors in the highest federal tax bracket. First Eagle Short Duration High Yield Municipal Fund—NAV, Distribution Rate and 30-Day SEC Yield by Share Class Data as of 30-Jun-2025 NAV Distribution Rate Subsidized 30-Day SEC Yield Unsubsidized 30-Day SEC Yield Class I (FDUIX) $10.16 4.72% 5.12% 5.12% Class A (FDUAX) $10.17 4.72% 5.19% 5.19% Class R6 (FDURX) $10.17 4.37% 4.75% 4.75% First Eagle Short Duration High Yield Municipal Fund—Average Annual Returns as of Month End Data as of 30-Jun-2025 YTDœ Since Inception Gross Expense Ratio¹ Net Expense Ratio Adjusted Expense Ratio² Fund Inception Date Class I (FDUIX) 1.43% 4.59% 1.58% 0.62% 0.60% Jan 2,2024 Class A (FDUAX) w/o load 1.21% 4.32% 1.47% 0.87% 0.85% Jan 2,2024 Class A (FDUAX) w/ load -1.29% 1.72% 1.47% 0.87% 0.85% Jan 2,2024 Class R6 (FDURX) 1.35% 4.61% 2.47% 0.62% 0.60% Jan 2,2024 S&P Short Duration Municipal Yield Index 1.81% 4.17% -- -- -- -- The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the fund's short term performance. Current performance may be lower or higher than figures shown. 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 or by calling 800.334.2143. The average annual returns are historical and reflect changes in share price, reinvested dividends and are net of expenses. "With sales charge" performance for class A shares gives effect to the deduction of the maximum sales charge of 2.50%. Class I shares require $1 million minimum investment and are offered without sales charge. Class R6 shares are offered without sales charge. Operating expenses reflect the Fund's total annual operating expenses for the share class of the Fund's most current prospectus, including management fees and other expenses. 1. First Eagle Investment Management, LLC (the "Adviser") has contractually agreed to waive and/or reimburse certain fees and expenses of Classes A, I and R6 so that the total annual operating expenses (excluding interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, dividend and other expenses relating to short sales, and extraordinary expenses, if any) (''annual operating expenses'') of each class are limited to 0.85%, 0.60% and 0.60% of average net assets, respectively. Each of these undertakings lasts until 28-Feb-2026 and may not be terminated during its term without the consent of the Board of Trustees. The Short Duration High Yield Municipal Fund has agreed that each of Classes A, I and R6 will repay the Adviser for fees and expenses waived or reimbursed for the class provided that repayment does not cause annual operating expenses (after the repayment is taken into account) to exceed the lesser of: (1) 0.85%, 0.60% and 0.60% of the class' average net assets, respectively; or (2) if applicable, the then-current expense limitations. Any such repayment must be made within three years after the year in which the Adviser incurred the expense. 2. The Adjusted Expense Ratio excludes certain fees and expenses, such as interest expense and fees paid on Fund borrowings and/or interest and related expenses from inverse floaters. The Fund is currently in a "ramp-up" period, during which it may not be fully invested, and certain of these expenses may change over time. S&P Short Duration Municipal Yield Index measures the performance of high yield and investment grade municipal bonds with a duration of one to 12 years. 30-day SEC yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. The yield figure reflects the dividends and interest earned during the period, after the deduction of the fund's expenses. This is also referred to as the "standardized yield." The number is then annualized. This yield does not necessarily reflect income actually earned and distributed by the Fund and therefore may not be correlated with dividends and distributions paid. Had fees not been waived and or/expenses reimbursed, the SEC Yield would have been lower. Subsidized 30-day SEC yield includes contractual expense reimbursements and would be lower without those reimbursements Unsubsidized 30-day SEC yield excludes contractual expense reimbursements The distribution yield is calculated by multiplying the most recent monthly distribution by 12 to get an annualized total and then dividing the result by the Fund's NAV. It is the Fund's policy to make periodic distributions of tax-exempt income, net investment income and net realized capital gains, if any. Unless you elect otherwise, such distributions to you will be reinvested in additional shares of the same share class of the Fund at net asset value calculated as of the payment date. Taxable equivalent yields presented are based off of the Fund's distribution rate. The distribution rate is calculated by the most recent distribution, multiplied by 12 to get an annualized total and then divided by the NAV for each respective share class. It is the Fund's policy to make periodic distributions of tax-exempt income, net investment income and net realized capital gains, if any. Unless you elect otherwise, such distributions to you will be reinvested in additional shares of the same share class of a Fund at net asset value calculated as of the payment date. The distribution rate includes return of capital. The Fund intends to declare income dividends daily and distribute them monthly at rates intended to maintain a more stable level of distributions than would result from paying out amounts solely based on current net investment income by paying out less than all of its net investment income or paying out undistributed income from prior months (with any potential remaining deficiencies characterized as a return of capital at year end). The distributions might not be made in equal amounts, and one month's distribution may be larger than another. Distribution rate presented excludes any special dividends. Distribution rate indicates the annual rate received if the most recent share class monthly distribution paid was the same for an entire year. The rate represents a distribution and does not represent the total return of the Fund. Because the Distribution Rate is annualized from a single month's distribution, no investor actually received the rate in a given year. The distribution rate is calculated by annualizing actual dividends distributed to the monthly period ended on the date shown and dividing by the net asset value on the last business day of the same period. Risk Disclosures: The First Eagle Short Duration High Yield Municipal Fund ("The Fund") is new and may not be successful under all future market conditions. The Fund may not attract sufficient assets to achieve investment, trading or other efficiencies. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise, while they typically increase their principal values when interest rates decline. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner, or that negative perception of the issuer's ability to make such payments may cause the price of that bond to decline. The Fund may invest in high yield, fixed income securities that, at the time of purchase, are non-investment grade. High yield, lower rated securities involve greater price volatility and present greater risks than high rated fixed income securities. High yield securities are rated lower than investment-grade securities because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. High yield securities involve greater risk than higher rated securities and portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Municipal bonds are subject to credit risk, interest rate risk, liquidity risk, and call risk. However, the obligations of some municipal issuers may not be enforceable through the exercise of traditional creditors' rights. The reorganization under federal bankruptcy laws of a municipal bond issuer may result in the bonds being cancelled without payment or repaid only in part, or in delays in collecting principal and interest. All investments involve the risk of loss of principal. Diversification does not guarantee investment returns and does not eliminate the risk of loss. The information is not intended to provide and should not be relied on for accounting or tax advice. Any tax information presented is not intended to constitute an analysis of all tax considerations. Investors should consider investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the Funds and may be viewed at You may also request printed copies by calling us at 800.747.2008. Please read our prospectus carefully before investing. Investments are not FDIC insured or bank guaranteed and may lose value. Total Return Percentile Rank, Morningstar Category Percentile rank is a standardized way of ranking items within a peer group, in this case funds with the same Morningstar category. The observation with the largest numerical value is ranked one; the observation with the smallest numerical value is ranked 100. The remaining observations are placed equidistant from one another on the rating scale. Note that lower percentile ranks are generally more favorable for returns (high returns), while higher percentile ranks are generally more favorable for risk measures (low risk). Morningstar High Yield Muni Category: High yield muni portfolios invest at least 50% of assets in high-income municipal securities that are not rated or that are rated by a major agency such as Standard & Poor's or Moody's at the level of BBB (considered speculative in the municipal industry) and below. First Eagle Short Duration High Yield Municipal Fund Class I: The Morningstar percentile ranking for the First Eagle Short Duration High Yield Municipal Fund was derived using the total return of the performance figure associated with its MTD, QTD, YTD, and 1-year periods, as of 6/30/2025. Morningstar percentile rankings were: 73% for the Month-to-Date (132/201), 7% for the Quarter-to-Date (12/200), 3% for the Year-to-Date (4/197), and 1% for the 1-year (2/196) periods when compared against the High Yield Muni category. © 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: 1) is proprietary to Morningstar; 2) may not be copied or distributed; and 3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. FEF Distributors, LLC ("FEFD") (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy or product. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC that provides advisory services. © 2025 First Eagle Investment Management, LLC. All rights reserved. About First Eagle Investments First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $152 billion in assets under management as of March 31, 2025.* Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle strives to help clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles. The firm's investment capabilities include equities, fixed income and currencies, alternative credit and real assets. For more information, please visit All figures related to assets under management (AUM) are preliminary figures based on management's estimates and as such are subject to change. *The total AUM represents the combined AUM of (i) First Eagle Investment Management, LLC, (ii) its subsidiary investment advisers, First Eagle Separate Account Management, LLC, First Eagle Alternative Credit ("FEAC") and Napier Park Global Capital ("Napier Park"), and (iii) Regatta Loan Management LLC, an advisory affiliate of Napier Park as of March 31, 2025. It includes $0.6 billion of committed and other non-fee-paying capital from First Eagle Alternative Credit, LLC and $3.1 billion of committed and other non-fee-paying capital from Napier Park Global Capital, inclusive of assets managed by Regatta Loan Management LLC. First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. View source version on Contacts Media Contacts First Eagle InvestmentsPholida Hedda NadlerMount Nadlerhedda@ 212-759-4440 Sign in to access your portfolio
Business Wire
23-07-2025
- Business
- Business Wire
First Eagle Short Duration High Yield Municipal Fund Surpasses $1 Billion in Assets
NEW YORK--(BUSINESS WIRE)--First Eagle Investments ("First Eagle") today announced that the First Eagle Short Duration High Yield Municipal Fund (I Shares: FDUIX; A Shares: FDUAX; R6 Shares: FDURX) surpassed $1 billion in total assets as of June 30, 2025. Launched in January 2024, the fund's growth reflects sustained investor interest in short duration, tax-advantaged income strategies in what remains a dynamic interest rate environment. First Eagle's broad municipal bond platform now exceeds $8 billion in assets. The firm's offerings in this space were recently expanded by the June launch of the First Eagle Tactical Municipal Opportunities Fund (Class I: FTAIX), an interval fund designed to provide access to opportunistic strategies across the municipal credit spectrum. John Miller, Head and Chief Investment Officer of First Eagle's Municipal Credit team, commented, 'Reaching this level of growth in a relatively short time speaks to the power of our disciplined, research-driven approach. We focus on our goal of rigorous credit work, active surveillance and selective positioning to build resilient portfolios that generate tax-exempt income without compromising quality or discipline." He added, 'The successful launch of the Tactical Municipal Opportunities Fund last month demonstrates the flexibility and depth of our platform and our commitment to offering investors differentiated, opportunistic exposures. That flexibility is further reinforced by the continued growth of our flagship First Eagle High Yield Municipal Fund (FEHIX), which recently surpassed $7 billion in assets, underscoring the strength and resilience of our municipal bond strategies across market cycles.' Frank Riccio, Head of US Wealth Solutions, noted: 'Investor appetite for tax-aware income solutions continues to grow, and advisors choose carefully when selecting a manager. We're pleased to see the Short Duration High Yield Municipal Fund cross the $1 billion milestone and look forward to supporting our clients' evolving income needs with our growing municipal product suite." Carl Katerndahl, Chief Operating Officer of the Municipal Credit team, concluded: 'The rapid expansion of our Municipal Bond platform reflects the confidence our clients have placed in John Miller and First Eagle. Together, we've built a highly skilled team of senior analysts and traders who are advancing our shared vision of delivering meaningful results in municipal credit." As of June 30, 2025, the First Eagle Short Duration High Yield Municipal Fund's 30-day SEC yield stood at 5.12% for Class I shares, with a taxable-equivalent yield as high as 8.65% for investors in the highest federal tax bracket. First Eagle Short Duration High Yield Municipal Fund—Average Annual Returns as of Month End Data as of 30-Jun-2025 YTDœ Since Inception Gross Expense Ratio¹ Net Expense Ratio Adjusted Expense Ratio² Fund Inception Date Class I (FDUIX) 1.43% 4.59% 1.58% 0.62% 0.60% Jan 2,2024 Class A (FDUAX) w/o load 1.21% 4.32% 1.47% 0.87% 0.85% Jan 2,2024 Class A (FDUAX) w/ load -1.29% 1.72% 1.47% 0.87% 0.85% Jan 2,2024 Class R6 (FDURX) 1.35% 4.61% 2.47% 0.62% 0.60% Jan 2,2024 S&P Short Duration Municipal Yield Index 1.81% 4.17% -- -- -- -- Expand The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the fund's short term performance. Current performance may be lower or higher than figures shown. 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 or by calling 800.334.2143. The average annual returns are historical and reflect changes in share price, reinvested dividends and are net of expenses. 'With sales charge' performance for class A shares gives effect to the deduction of the maximum sales charge of 2.50%. Class I shares require $1 million minimum investment and are offered without sales charge. Class R6 shares are offered without sales charge. Operating expenses reflect the Fund's total annual operating expenses for the share class of the Fund's most current prospectus, including management fees and other expenses. 1. First Eagle Investment Management, LLC (the 'Adviser') has contractually agreed to waive and/or reimburse certain fees and expenses of Classes A, I and R6 so that the total annual operating expenses (excluding interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, dividend and other expenses relating to short sales, and extraordinary expenses, if any) (''annual operating expenses'') of each class are limited to 0.85%, 0.60% and 0.60% of average net assets, respectively. Each of these undertakings lasts until 28-Feb-2026 and may not be terminated during its term without the consent of the Board of Trustees. The Short Duration High Yield Municipal Fund has agreed that each of Classes A, I and R6 will repay the Adviser for fees and expenses waived or reimbursed for the class provided that repayment does not cause annual operating expenses (after the repayment is taken into account) to exceed the lesser of: (1) 0.85%, 0.60% and 0.60% of the class' average net assets, respectively; or (2) if applicable, the then-current expense limitations. Any such repayment must be made within three years after the year in which the Adviser incurred the expense. 2. The Adjusted Expense Ratio excludes certain fees and expenses, such as interest expense and fees paid on Fund borrowings and/or interest and related expenses from inverse floaters. The Fund is currently in a 'ramp-up' period, during which it may not be fully invested, and certain of these expenses may change over time. S&P Short Duration Municipal Yield Index measures the performance of high yield and investment grade municipal bonds with a duration of one to 12 years. 30-day SEC yield is a standard yield calculation developed by the Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. The yield figure reflects the dividends and interest earned during the period, after the deduction of the fund's expenses. This is also referred to as the 'standardized yield.' The number is then annualized. This yield does not necessarily reflect income actually earned and distributed by the Fund and therefore may not be correlated with dividends and distributions paid. Had fees not been waived and or/expenses reimbursed, the SEC Yield would have been lower. Subsidized 30-day SEC yield includes contractual expense reimbursements and would be lower without those reimbursements Unsubsidized 30-day SEC yield excludes contractual expense reimbursements The distribution yield is calculated by multiplying the most recent monthly distribution by 12 to get an annualized total and then dividing the result by the Fund's NAV. It is the Fund's policy to make periodic distributions of tax-exempt income, net investment income and net realized capital gains, if any. Unless you elect otherwise, such distributions to you will be reinvested in additional shares of the same share class of the Fund at net asset value calculated as of the payment date. Taxable equivalent yields presented are based off of the Fund's distribution rate. The distribution rate is calculated by the most recent distribution, multiplied by 12 to get an annualized total and then divided by the NAV for each respective share class. It is the Fund's policy to make periodic distributions of tax-exempt income, net investment income and net realized capital gains, if any. Unless you elect otherwise, such distributions to you will be reinvested in additional shares of the same share class of a Fund at net asset value calculated as of the payment date. The distribution rate includes return of capital. The Fund intends to declare income dividends daily and distribute them monthly at rates intended to maintain a more stable level of distributions than would result from paying out amounts solely based on current net investment income by paying out less than all of its net investment income or paying out undistributed income from prior months (with any potential remaining deficiencies characterized as a return of capital at year end). The distributions might not be made in equal amounts, and one month's distribution may be larger than another. Distribution rate presented excludes any special dividends. Distribution rate indicates the annual rate received if the most recent share class monthly distribution paid was the same for an entire year. The rate represents a distribution and does not represent the total return of the Fund. Because the Distribution Rate is annualized from a single month's distribution, no investor actually received the rate in a given year. The distribution rate is calculated by annualizing actual dividends distributed to the monthly period ended on the date shown and dividing by the net asset value on the last business day of the same period. Risk Disclosures: The First Eagle Short Duration High Yield Municipal Fund ('The Fund') is new and may not be successful under all future market conditions. The Fund may not attract sufficient assets to achieve investment, trading or other efficiencies. Funds that invest in bonds are subject to interest-rate risk and can lose principal value when interest rates rise, while they typically increase their principal values when interest rates decline. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner, or that negative perception of the issuer's ability to make such payments may cause the price of that bond to decline. The Fund may invest in high yield, fixed income securities that, at the time of purchase, are non-investment grade. High yield, lower rated securities involve greater price volatility and present greater risks than high rated fixed income securities. High yield securities are rated lower than investment-grade securities because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. High yield securities involve greater risk than higher rated securities and portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Municipal bonds are subject to credit risk, interest rate risk, liquidity risk, and call risk. However, the obligations of some municipal issuers may not be enforceable through the exercise of traditional creditors' rights. The reorganization under federal bankruptcy laws of a municipal bond issuer may result in the bonds being cancelled without payment or repaid only in part, or in delays in collecting principal and interest. All investments involve the risk of loss of principal. Diversification does not guarantee investment returns and does not eliminate the risk of loss. The information is not intended to provide and should not be relied on for accounting or tax advice. Any tax information presented is not intended to constitute an analysis of all tax considerations. Investors should consider investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the Funds and may be viewed at You may also request printed copies by calling us at 800.747.2008. Please read our prospectus carefully before investing. Investments are not FDIC insured or bank guaranteed and may lose value. Total Return Percentile Rank, Morningstar Category Percentile rank is a standardized way of ranking items within a peer group, in this case funds with the same Morningstar category. The observation with the largest numerical value is ranked one; the observation with the smallest numerical value is ranked 100. The remaining observations are placed equidistant from one another on the rating scale. Note that lower percentile ranks are generally more favorable for returns (high returns), while higher percentile ranks are generally more favorable for risk measures (low risk). Morningstar High Yield Muni Category: High yield muni portfolios invest at least 50% of assets in high-income municipal securities that are not rated or that are rated by a major agency such as Standard & Poor's or Moody's at the level of BBB (considered speculative in the municipal industry) and below. First Eagle Short Duration High Yield Municipal Fund Class I: The Morningstar percentile ranking for the First Eagle Short Duration High Yield Municipal Fund was derived using the total return of the performance figure associated with its MTD, QTD, YTD, and 1-year periods, as of 6/30/2025. Morningstar percentile rankings were: 73% for the Month-to-Date (132/201), 7% for the Quarter-to-Date (12/200), 3% for the Year-to-Date (4/197), and 1% for the 1-year (2/196) periods when compared against the High Yield Muni category. © 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: 1) is proprietary to Morningstar; 2) may not be copied or distributed; and 3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. FEF Distributors, LLC ('FEFD') (SIPC), a limited purpose broker-dealer, distributes certain First Eagle products. FEFD does not provide services to any investor, but rather provides services to its First Eagle affiliates. As such, when FEFD presents a fund, strategy or other product to a prospective investor, FEFD and its representatives do not determine whether an investment in the fund, strategy or other product is in the best interests of, or is otherwise beneficial or suitable for, the investor. No statement by FEFD should be construed as a recommendation. Investors should exercise their own judgment and/or consult with a financial professional to determine whether it is advisable for the investor to invest in any First Eagle fund, strategy or product. The First Eagle Funds are offered by FEF Distributors, LLC, a subsidiary of First Eagle Investment Management, LLC that provides advisory services. © 2025 First Eagle Investment Management, LLC. All rights reserved. About First Eagle Investments First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $152 billion in assets under management as of March 31, 2025. * Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle strives to help clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles. The firm's investment capabilities include equities, fixed income and currencies, alternative credit and real assets. For more information, please visit All figures related to assets under management (AUM) are preliminary figures based on management's estimates and as such are subject to change. *The total AUM represents the combined AUM of (i) First Eagle Investment Management, LLC, (ii) its subsidiary investment advisers, First Eagle Separate Account Management, LLC, First Eagle Alternative Credit ('FEAC') and Napier Park Global Capital ('Napier Park'), and (iii) Regatta Loan Management LLC, an advisory affiliate of Napier Park as of March 31, 2025. It includes $0.6 billion of committed and other non-fee-paying capital from First Eagle Alternative Credit, LLC and $3.1 billion of committed and other non-fee-paying capital from Napier Park Global Capital, inclusive of assets managed by Regatta Loan Management LLC. First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers.
RNZ News
19-07-2025
- RNZ News
At least 30 hurt after vehicle strikes crowd outside LA nightclub, driver shot
By Rebekah Riess, John Miller and Julia Vargas Jones , CNN The scene of the incident in Los Angeles. Photo: CNN / AFP / Getty Images At least 30 people were injured - seven of them critically - when a vehicle drove into a crowd waiting in line outside an East Hollywood nightclub early Saturday, according to the Los Angeles Fire Department. Arriving firefighters found a vehicle had driven through a large number of people in front of The Vermont Hollywood music venue. "They drove through a taco stand, through the valet podium, and then through the crowd of people that were waiting to go inside," said Captain Adam VanGerpen, public information officer for the Los Angeles City Fire Department. "It was a very chaotic scene," VanGerpen said. Photo: AFP / Robyn Beck A police officer at the scene of a crashed vehicle which drove into a crowd in Hollywood in the early hours of July 19, 2025 Once the car came to a stop, the driver of the vehicle was pulled out and physically assaulted by bystanders, according to Jeff Lee, public information officer with the Los Angeles Police Department. During the altercation, one of the bystanders shot the driver, Lee said. Police believe the driver was intoxicated, a law enforcement official briefed on the situation told CNN. There is no indication beyond the impaired state of the driver that there was any other criminal intent or connection to terrorism, the official said. Seven victims were transported in critical condition, six in serious condition, and 10 in fair condition, the LAFD said. Seven patients refused transport after being assessed on scene, according to the department. The victims included 18 women and 12 men in their mid-20s to early 30s, according to Lillian Carranza, a commander with the LAPD. Patients with broken bones and soft tissue injuries were transported to the appropriate trauma centers and surrounding hospitals, VanGerpen said, noting that one victim also had a gunshot wound. Los Angeles police officers were initially dispatched to the scene on a report of an assault with a deadly weapon and found a vehicle had driven into the crowd "for reasons unknown," with the driver being assaulted by bystanders, according to police. Once first responders were able to access the driver, they provided medical treatment and discovered the gunshot wound, according to police. "One of our paramedics … when they started doing their secondary assessment of the patient, they identified a gunshot," VanGerpen said. The driver was transported and is undergoing surgery, but is in stable condition, according to police. "However, he is not free to leave. He is in the custody of Los Angeles Police Department, and we're looking at charges such as attempted murder and assault with a deadly weapon at this point," Carranza said. The male shooting suspect, wearing a blue jersey, fled, according to the LAPD. Police believe a silver revolver was used in the shooting. "We consider him armed and dangerous right now," Lee said. "This is a heartbreaking tragedy," Los Angeles Mayor Karen Bass said in a statement Saturday morning. "I want to thank the more than 100 LAFD and LAPD personnel who responded to the scene to help to save lives. "The hearts of Angelenos are with all of the victims impacted this morning - a full investigation into what happened is underway." Video of the incident showed multiple injured people on the street and sidewalk being treated for their injuries. Some were seen being taken away on stretchers as police cordoned off the area. "People were helping each other out," VanGerpen said. "People were waiting to go inside there (the nightclub), they're ordering tacos, so they're seeing people that they don't even know are injured. They're stepping in to help them out." The fire department coordinated patient triage and transport from the incident that happened around 2 a.m. local time. The department said 124 fire personnel assisted at the scene. -CNN
CNN
19-07-2025
- CNN
3 LA County sheriff's deputies killed by explosion at training facility, the agency's largest loss of life since 1857
An explosion at a Los Angeles County Sheriff's Department training facility killed three veteran members assigned to the agency's arson and explosives detail Friday morning – a tragedy that marks the 'largest loss of life' at the department since 1857, according to Sheriff Robert Luna. The explosion is believed to have been an accident. Federal and local investigators began working to determine what led to the explosion after the scene was rendered safe by the Los Angeles Police Department's bomb squad just after 11 a.m. local time, Luna said at a news conference. The LASD's bomb squad responded to a call in the county on Thursday involving an explosive device, which was transported back to the training facility located at the agency's headquarters, law enforcement sources briefed on the investigation told CNN's chief law enforcement and intelligence analyst John Miller. While the investigation still has to determine whether that device was a piece of military ordnance or an improvised explosive device, the sources said the plan was to perform a render-safe procedure on Friday morning. 'That means they either countercharge it and blow it up in an open area where they can do that, or they perform a more intricate procedure where they take it apart and render it safe from detonating,' said Miller. At some point while moving that device Friday morning, possibly from another vehicle or to where they were going to render it safe, the device functioned, according to Miller, citing law enforcement sources. The three sworn members had collectively served for 74 years and authorities are not releasing their names at this time, the sheriff said. Luna added he's met with several family members of the deputies, but some have not yet been notified. 'The individuals who work our arson explosives detail, they have years of training,' Luna said, adding the members respond to an average of 1,100 calls per year, which include 'dealing with some very dangerous situations or items.' 'These aren't people who don't do this very often. They are fantastic experts, and unfortunately, I lost three of them today,' the sheriff continued. The incident happened shortly after 7:30 a.m. local time at the Biscailuz Center Training Academy, which houses the sheriff's department's special enforcement units and bomb squad, according to a release from the LASD. The facility is located about 6 miles east of downtown LA. 'At this time, we do not know the cause of the explosion … I can tell you, there is no threat to this community. This is an isolated incident,' Luna said. US Attorney General Pam Bondi and the LASD said earlier Friday the three members died in a 'critical workplace incident.' 'I just spoke to (US Attorney for the Central District of California Bill Essayli) about what appears to be a horrific incident that killed at least three at a law enforcement training facility in Los Angeles,' Bondi said in a post on X. 'Our federal agents are at the scene and we are working to learn more. Please pray for the families of the sheriff's deputies killed.' 'Sheriff's homicide detectives are on scene,' the LASD said. The FBI is responding to assist with the incident, according to the FBI's Los Angeles field office. Agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives are also on scene, according to Bondi. LASD homicide detectives are also on scene investigating the deaths, Luna said. Los Angeles Fire Department arson investigators and members of the Los Angeles Police Department's bomb squad are assisting at the training facility, LA Mayor Karen Bass said in a post on X. The work of the bomb squad was complicated by the fact officers had to ensure no other explosive material that could be stored there was vulnerable to detonation, the senior law enforcement source told CNN. Meanwhile, Los Angeles officials are expressing heartbreak over the tragedy and rallying around the sheriff's department in solidarity, ready to offer assistance as needed. The LAPD's bomb squad, SWAT and K-9 teams are actively responding to calls on behalf of the sheriff's department so the agency can 'focus fully on supporting their personnel and conducting this critical investigation,' Police Chief Jim McDonnell said. Los Angeles County Board of Supervisors Chair Kathryn Barger said she is 'closely tracking the situation as we learn more about what occurred.' Barger continued: 'My heart is heavy, and my thoughts are with the brave men and women of the Sheriff's Department during this difficult time. We stand with them and their families as they navigate the hours and days ahead.' The sheriff's department announced the route of a procession planned for Friday afternoon to honor the three deputies killed in the explosion. This story has been updated with additional information.
Yahoo
17-07-2025
- Entertainment
- Yahoo
Jennifer Garner and John Miller Are in a ‘Good Place' Following ‘Rough Period' Involving Ben Affleck
Not something you see every day! On June 21, Jennifer Garner and her longtime boyfriend John Miller put on the PDA after the actress completed a Save the Children run in Santa Monica, Calif. The athletic feat was the final leg in the 53-year-old's 67-day challenge, during which she ran a mile a day to support #67Strong4Kids to help combat world childhood hunger. 'Just $67 can help bring a child back from the brink of starvation,' the mom of three explained to fans on Instagram. While John — the CEO of burger chain CaliBurger — was no doubt impressed by his love's achievement, the public smooch comes in the wake of a set of March photos showing the actress and her ex-husband Ben Affleck looking very cozy at their son's paintball birthday party. 'Jen and John had a rough period earlier this year, everyone knows that, but they're in a very good place now and those bumps in the road are well behind them,' a source tells Star. 'The biggest issue was how much time Jen was spending with Ben, it wasn't easy for John because he felt second place.' The source adds that Jen, who has been dating John on and off since 2018, has made their relationship a priority. 'He's at her place several nights a week now, which is a big change,' reveals the source. 'It's as though they are back in the honeymoon stage of the romance!' Solve the daily Crossword
