Ten years after its last mutual fund launch, First Eagle Funds [see profile]
is preparing a new offering. The Manhattan-based fund firm will soon launch its own Arbitrage Opportunity Fund
, its sixth mutual fund [see filing
A spokeswoman for First Eagle declined to comment for this story, citing the registration period.
The new merger arbitrage mutual fund was previously an unregistered investment fund. It will feature: A shares for a 500-basis-point front-end load and 257 bps in annual expenses; C shares with a 100-bps deferred load and 332 bps in expenses; and I shares with 232 bps in expenses. Jason Dahl
and Jonathan Spitzer
will continue to PM the fund in its new form. First Eagle did not list a launch date.
First Eagle will handle distribution of the fund itself. DST
will serve as transfer agent,State Street
as custodian, and PricewaterhouseCoopers
as independent accounting firm.
Neil Anderson, Managing Editor
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