First Eagle High Yield Fund Quarterly Commentary Q3 2018

|
About: Southeastern Grocers (SEG), ENQUF, ENQUY, JBS, ULUCF, NGD, NFRMY, NUFMF, FEHAX, FEHIX, Includes: BIL, DFVL, DFVS, DLBS, DTUL, DTUS, DTYL, DTYS, EDV, EGF, FIBR, GBIL, GOVT, GSY, HYDD, IEF, IEI, ITE, KGC, PLW, PST, RINF, RISE, SCHO, SCHR, SHV, SHY, TAPR, TBF, TBT, TBX, TLH, TLT, TMF, TMV, TTT, TUZ, TYBS, TYD, TYNS, TYO, UBT, UDN, USDU, UST, UUP, VGIT, VGLT, VGSH, VUSTX, ZROZ
by: Fund Letters

Summary

Seeks to provide investors with a high level of current income. With a bottom-up investment approach and focus on fundamental research, the Fund seeks to maximize risk adjusted returns by modifying risk exposure throughout the high yield credit cycle.

Includes detailed analysis of First Eagle High Yield Fund's positions in SEG, ENQUF, ENQUY, JBS, ULUCF, NGD, NFRMY, NUFMF.

The High Yield Fund delivered a positive return in Q3 but underperformed the Bloomberg Barclays US Corporate High Yield Index. The First Eagle High Yield Fund Class A shares (without sales charge) returned 1.63% versus the 2.40% return of the Index.