During the final quarter of 2025, global financial markets showed robust performance, with risk assets concluding a strong year. Notably, non-US equity markets demonstrated significant leadership, diverging from recent trends and contributing substantially to overall market gains.
Amidst ongoing market uncertainties, the First Eagle US Fund A Shares achieved a commendable return of 4.67% for the fourth quarter of 2025. This performance is set against the backdrop of the S&P 500 Index, which rose by 2.7% in the same quarter and an impressive 17.9% over the entire year. Concurrently, the MSCI EAFE Index, representing international equities, posted returns of 4.9% for the quarter and an outstanding 31.2% for the year, underscoring the strong global market recovery.
These results highlight the dynamic nature of investment environments. Despite persistent threats to market stability, investors have continued to embrace opportunities in risk assets. The fund's strategic approach, combined with the broader market's positive momentum, reflects a period of significant growth and renewed confidence in various sectors of the global economy.
This period of strong market performance and the fund's positive returns emphasize the potential for growth and value creation, even in a complex economic landscape. It underscores the importance of a well-considered investment strategy that adapts to evolving market conditions, striving for long-term prosperity and resilience for investors.
