First Eagle Investment Management on Sept. 25 announced plans to launch two actively managed ETFs later this year, marking what a spokeswoman for the global investment manager confirmed would be its debut in the ETF space.
The two planned funds are the First Eagle Global Equity ETF and the First Eagle Overseas Equity ETF, a Sept. 25 filing with the Securities and Exchange Commission shows.
Actively managed ETFs “have become an important component of how our clients construct portfolios,” said Mehdi Mahmud, First Eagle’s president and CEO, in a Sept. 25 news release.
“Our decision is a response to customers’ requests over the last few years,” Mahmud said in the release. “We anticipate our active ETFs will be embraced just as positively by clients as our mutual funds and separately managed accounts have been.”
The new ETFs each will seek long-term growth of capital, according to the filling. The First Eagle Global Equity ETF will invest primarily in equities of U.S. and non-U.S. issuers, while the First Eagle Overseas Equity ETF will invest primarily in equities of non-U.S. issuers, the filing said.
As of June 30, First Eagle had about $138 billion in total assets under management, the release said.
