The team at a $109-billion-AUM (as of March 31) asset manager is rolling out their first small cap fund, powered by a freshly added team.

On July 1, Robert Bruno, head of retail distribution at First Eagle Investment Management, LLC [profile], and Bill Hench, portfolio manager, unveiled the launch of the First Eagle Small Cap Opportunity Fund. The new fund, powered by an "opportunistic small cap value strategy," comes in A, I, and R6 shares (with tickers FESAX, FESCX, and FESRX).

The launch follows the New York City-based firm's liftout, back in April, of a former Royce small cap team that includes Hench, Suzanne Franks (associate PM), Rob Kosowsky (associate PM), and Adam Mielnik (senior research analyst). That team now PMs First Eagle's new fund.

First Eagle now offers nine mutual funds. 

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