The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FEBAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FEBAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FEBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Greg Carlson
Senior Analyst
Summary
The upcoming departure of a high-yield team may result in less credit risk at First Eagle Global Income Builder, but the remaining fixed-income resources are unproven.