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Equity Income Fund

Investment Adviser: Foresters Investment Management Company, Inc.

Portfolio Manager: Sean Reidy

Investment Objective and Strategy

The Fund seeks total return.The Fund invests, under normal market conditions, primarily in dividend-paying stocks of companies that the Fund believes are undervalued in the market relative to their long-term potential. Under normal circumstances, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in equities. The Fund will normally diversify its assets among large-, mid- and small size companies. The Fund may also invest in stocks of companies of any size that do not pay dividends, but have the potential of paying dividends in the future if they appear to be undervalued.

Sector Allocation (%)

As of 06-30-2017

This information is for illustrative purposes only and includes only invested cash; therefore, the sum of all sectors as a percentage of net assets may not equal 100%.

Returns as of 08-31-2017 06-30-2017
Gross/Net Exp as of 09-30-2016 Gross/Net Exp as of 09-30-2016
Average Annual Total Returns
Class 1 Yr. % 3 Yr. % 5 Yr. % 10 Yr. % Since inception* Inception date Gross/Net Exp %
Average Annual Total Returns
Aat NAV13.256.0211.495.05N/A02-22-19931.23/1.23
w/ sales charge6.743.9410.174.43N/A02-22-19931.23/1.23
Bat NAV12.375.1410.604.35N/A01-12-19952.08/2.08
w/ sales charge8.374.2310.334.35N/A01-12-19952.08/2.08
Advisorat NAV13.696.42N/AN/A10.1004-01-20130.86/0.86
Institutionalat NAV13.686.43N/AN/A10.1904-01-20130.79/0.79
Average Annual Total Returns
ClassA
at NAV
1 Yr. %13.25
3 Yr. %6.02
5 Yr. %11.49
10 Yr. %5.05
Since inception*N/A
Inception date02-22-1993
Gross/Net Exp %1.23/1.23
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %6.74
3 Yr. %3.94
5 Yr. %10.17
10 Yr. %4.43
Since inception*N/A
Inception date02-22-1993
Gross/Net Exp %1.23/1.23
Average Annual Total Returns
ClassB
at NAV
1 Yr. %12.37
3 Yr. %5.14
5 Yr. %10.60
10 Yr. %4.35
Since inception*N/A
Inception date01-12-1995
Gross/Net Exp %2.08/2.08
Average Annual Total Returns
ClassB
w/ sales charge
1 Yr. %8.37
3 Yr. %4.23
5 Yr. %10.33
10 Yr. %4.35
Since inception*N/A
Inception date01-12-1995
Gross/Net Exp %2.08/2.08
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %13.69
3 Yr. %6.42
5 Yr. %N/A
10 Yr. %N/A
Since inception*10.10
Inception date04-01-2013
Gross/Net Exp %0.86/0.86
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %13.68
3 Yr. %6.43
5 Yr. %N/A
10 Yr. %N/A
Since inception*10.19
Inception date04-01-2013
Gross/Net Exp %0.79/0.79
Average Annual Total Returns
Class 1 Yr. % 3 Yr. % 5 Yr. % 10 Yr. % Since inception* Inception date Gross/Net Exp %
Average Annual Total Returns
Aat NAV10.315.9110.995.54N/A02-22-19931.23/1.23
w/ sales charge3.953.859.694.91N/A02-22-19931.23/1.23
Bat NAV9.415.0010.085.21N/A01-12-19952.08/2.08
w/ sales charge5.414.099.815.21N/A01-12-19952.08/2.08
Advisorat NAV10.846.31N/AN/A9.8604-01-20130.86/0.86
Institutionalat NAV10.736.36N/AN/A9.9504-01-20130.79/0.79
Average Annual Total Returns
ClassA
at NAV
1 Yr. %10.31
3 Yr. %5.91
5 Yr. %10.99
10 Yr. %5.54
Since inception*N/A
Inception date02-22-1993
Gross/Net Exp %1.23/1.23
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %3.95
3 Yr. %3.85
5 Yr. %9.69
10 Yr. %4.91
Since inception*N/A
Inception date02-22-1993
Gross/Net Exp %1.23/1.23
Average Annual Total Returns
ClassB
at NAV
1 Yr. %9.41
3 Yr. %5.00
5 Yr. %10.08
10 Yr. %5.21
Since inception*N/A
Inception date01-12-1995
Gross/Net Exp %2.08/2.08
Average Annual Total Returns
ClassB
w/ sales charge
1 Yr. %5.41
3 Yr. %4.09
5 Yr. %9.81
10 Yr. %5.21
Since inception*N/A
Inception date01-12-1995
Gross/Net Exp %2.08/2.08
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %10.84
3 Yr. %6.31
5 Yr. %N/A
10 Yr. %N/A
Since inception*9.86
Inception date04-01-2013
Gross/Net Exp %0.86/0.86
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %10.73
3 Yr. %6.36
5 Yr. %N/A
10 Yr. %N/A
Since inception*9.95
Inception date04-01-2013
Gross/Net Exp %0.79/0.79

*For funds with less than 1, 3, 5 or 10 year performance data.


The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Performance of share classes will differ because each class is sold pursuant to different sales arrangements and bears different expenses.  The Class A returns shown with sales charges are based on the maximum sales charge of 5.75%. The Class B returns shown with sales charges are adjusted for the applicable deferred sales charge (maximum of 4% in the first year). The Advisor Class and Institutional Class returns are shown as NAV only returns since these classes are sold without sales charges. Redemptions of Class B shares may be subject to a deferred sales charge. For performance data current to the most recent month-end call 800 524 2803 or visit
Pricing & Performance. Returns may reflect waivers or reimbursements of certain expenses. Absent of these waivers or reimbursements, returns may be lower.


Sector Allocation (%)

As of 06-30-2017

This information is for illustrative purposes only and includes only invested cash; therefore, the sum of all sectors as a percentage of net assets may not equal 100%

Top Holdings (%)

As of 06-30-2017
Top Holdings (%)
Security% of Total Net Assets
Microsoft Corp.2.3%
Johnson & Johnson2.2%
Pfizer, Inc.2.1%
JPMorgan Chase & Co.1.9%
Wells Fargo & Co.1.9%
Merck & Company, Inc.1.7%
Cisco Systems, Inc.1.7%
Chubb, Ltd.1.6%
Verizon Communications, Inc.1.6%
Philip Morris International, Inc.1.6%
Total18.5%

This information is solely for illustrative purposes. The portfolio as of the date of this report may or may not be the same as the portfolio on the date this material is used.

Class A Class B Advisor Class Institutional Class
Shareholder Fees (fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 5.75%1 None None None
Maximum deferred sales charge (load) (as a percentage of the lower of purchase price or redemption price) 1.00%2 4.00%3 None None
Class A Class B Advisor Class Institutional Class
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees 0.73% 0.73% 0.73% 0.73%
Distribution and Service (12b-1) Fees 0.30% 1.00% None None
Other Expenses 0.20% 0.35% 0.13% 0.06%
Total Annual Fund Operating Expenses 1.23% 2.08% 0.86% 0.79%

1 Due to rounding of numbers in calculating a sales charge, you may pay more or less than what is shown above.

2 A CDSC of 1.00% will be assessed on certain redemptions of Class A shares that are purchased without a sales charge.

3 4.00% in the first year, declining to 0% after the sixth year. Class B shares convert to Class A shares after eight years.

Sean Reidy

Sean Reidy

Sean Reidy has served as Portfolio Manager of the Equity Income Fund since 2011 and also serves as Portfolio Manager of another First Investors Fund.  Prior to joining FIMCO in 2010, Mr. Reidy was a proprietary trader at First New York Securities (2008-2010) and served as Co-Portfolio Manager and Research Director at Olstein Capital Management (1996-2007).

How to obtain a prospectus  

For more complete information on any First Investors fund, you may obtain a free prospectus by downloading it here, contacting your registered representative, or calling 800 423 4026. You should consider the investment objectives, risks, fees or charges, and expenses of the fund carefully before investing. The prospectus and summary prospectus contain this and other information about the fund, and should be read carefully before you invest or send money.


Principal Risks
You can lose money by investing in the Fund. There is no guarantee that the Fund will meet its investment objective. The Fund is intended for investors who:

  • Are seeking total return,
  • Are willing to accept a moderate degree of investment risk, and
  • Have a long-term investment horizon and are able to ride out market cycles.

Here are the principal risks of investing in the Fund:


Dividend Risk. At times, the Fund may not be able to identify dividend-paying stocks that are attractive investments. The income received by the Fund will also fluctuate due to the amount of dividends that companies elect to pay. 

Market Risk. Stock prices may decline over short or even extended periods not only because of company-specific developments, but also due to an economic downturn, adverse political or regulatory developments, or interest rate fluctuations. While dividend-paying stocks are generally considered less volatile than other stocks, there can be no guarantee that the Fund's overall portfolio will be less volatile than the general stock market. Adverse market events may lead to increased redemptions, which could cause the Fund to experience a loss or difficulty in selling securities to meet redemptions.

Mid-Size and Small-Size Company Risk. The market risk associated with stocks of mid- and small-size companies is generally greater than that associated with stocks of larger, more established companies because stocks of mid- and small-size companies tend to experience sharper price fluctuations. At times, it may be difficult for the Fund to sell mid-to-small-size company stocks at reasonable prices.

Security Selection Risk. Securities selected by the portfolio manager may perform differently than the overall market or may not meet the portfolio manager's expectations.

Undervalued Securities Risk. The Fund seeks to invest in stocks that are undervalued and that will rise in value due to anticipated events or changes in investor perceptions. If these events do not occur or investor perceptions about the securities do not improve, the market price of these securities may not rise as expected or may fall.

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