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Investment Adviser: Foresters Investment Management Company, Inc. is the Fund’s investment adviser and Lazard Asset Management LLC serves  as subadviser to the Fund.

Portfolio Managers: Dmitri Batsev and Jerry Liu, CFA

Investment Objective and Strategy

The fund seeks capital appreciation. The Fund utilizes a long/short investment strategy through investments in equity securities, primarily common stocks of U.S. issuers.  The Fund defines U.S. issuers to include issuers domiciled in the U.S. or issuers whose securities are traded on a U.S. exchange.  Although the Fund will primarily invest in the equity securities of U.S. issuers, to a lesser extent, the Fund may also may invest in foreign issuers, primarily American Depositary Receipts (“ADRs”).  The Fund may invest in companies of any market capitalization and also may invest in initial public offerings (“IPOs”).  At certain times, based on the currently existing market environment, Lazard Asset Management LLC, the Fund’s subadviser (“Lazard”), may not believe it is able to find sufficient opportunities to invest in equity securities and/or take short positions in equity securities and may determine to tactically shift the Fund to invest substantially in money market instruments, such as short-term U.S. Treasury securities and certificates of deposit.  The Fund may not pursue or achieve its investment objective at such times.  The Fund may engage in short-term trading which may result in high portfolio turnover.


 

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 12-01-2016 Gross/Net Exp as of 12-01-2016
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 NAVN/AN/AN/AN/A3.3012-01-20163.89/3.81
w/ sales chargeN/AN/AN/AN/A-2.6412-01-20163.89/3.81
Advisorat NAVN/AN/AN/AN/A3.5012-01-20163.61/3.53
Institutionalat NAVN/AN/AN/AN/A3.6012-01-20163.48/3.40
Average Annual Total Returns
ClassA
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*3.30
Inception date12-01-2016
Gross/Net Exp %3.89/3.81
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*-2.64
Inception date12-01-2016
Gross/Net Exp %3.89/3.81
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*3.50
Inception date12-01-2016
Gross/Net Exp %3.61/3.53
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*3.60
Inception date12-01-2016
Gross/Net Exp %3.48/3.40
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 NAVN/AN/AN/AN/A3.9012-01-20163.89/3.81
w/ sales chargeN/AN/AN/AN/A-2.0712-01-20163.89/3.81
Advisorat NAVN/AN/AN/AN/A4.1012-01-20163.61/3.53
Institutionalat NAVN/AN/AN/AN/A4.2012-01-20163.48/3.40
Average Annual Total Returns
ClassA
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*3.90
Inception date12-01-2016
Gross/Net Exp %3.89/3.81
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*-2.07
Inception date12-01-2016
Gross/Net Exp %3.89/3.81
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*4.10
Inception date12-01-2016
Gross/Net Exp %3.61/3.53
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %N/A
3 Yr. %N/A
5 Yr. %N/A
10 Yr. %N/A
Since inception*4.20
Inception date12-01-2016
Gross/Net Exp %3.48/3.40
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. Redemptions of Class B shares may be subject to a deferred sales charge.
Illustrative data on the Fund's asset breakdown and top holdings is not currently available.

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
Intercontinental Exchange, Inc.5.3%
Comcast Corp.4.3%
Motorola Solutions, Inc.4.2%
Lowe's Companies, Inc.3.3%
Molson Coors Brewing Company - Class "B"3.3%
Jphnson Controls International, PLC3.0%
Comerica, Inc.2.9%
Rockwell Automation, Inc.2.8%
Walgreens Boots Alliance, Inc.2.7%
Citigroup, Inc.2.7%
Total34.4%

Class A 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
Maximum deferred sales charge (load) (as a percentage of the lower of purchase price or redemption price) 1.00%2 None None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees 1.40% 1.40% 1.40%
Distribution and Service (12b-1) Fees 0.25% None None
Other Expenses3

Dividend Expenses on Securities Sold Short4

 1.13% 1.13%  1.13%   

Borrowing Expenses on Securities Sold Short4

 0.73% 0.73%  0.73%   

Remainder of Other Expenses

 0.38% 0.35%  0.22%  
 Total Other Expenses  2.24% 2.21% 2.08%  
Total Annual Fund Operating Expenses 3.89% 3.61% 3.48%
Fee Limitation and/or Expense Reimbursement4  0.08% 0.08%   0.08%
Total Annual fund Operating Expenses After Fee Limitation and/or Expense Reimbursement  3.81% 3.53% 3.40%

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

2 A contingent deferred sales charge of 1% will be assessed on certain redemptions of Class A shares that are purchased without a sales charge.

3 Expenses are based on estimated expenses expected to be incurred for the current fiscal year.

4 The Adviser has contractually agreed to limit fees and/or reimburse expenses of the Fund until at least January 31, 2018, to the extent that Total Annual Fund Operating Expenses (exclusive of interest expenses, taxes, brokerage commissions, acquired fund fees and expenses, expenses related to short sales including dividend and borrowing expenses, and extraordinary expenses, such as litigation expenses, if any) exceed 1.95% for Class A, 1.67% for Advisor Class and 1.54% for Institutional Class shares.  The Adviser can be reimbursed by the Fund within three years after the date the fee limitation and/or expense reimbursement has been made by the Adviser, provided that such repayment does not cause the expenses of the Fund’s Class A, Advisor Class or Institutional Class shares to exceed the applicable expense ratio in place at the time the expenses are waived or assumed or the current limits established under the Expense Limitation Agreement.  The fee limitation and/or expense reimbursement may be terminated or amended prior to January 31, 2018, only with the approval of the Fund’s Board of Trustees.

Portfolio Manager

Lazard Asset Management LLC serves  as subadviser to the Fund.

Dmitri Batsev, Managing Director, and Jerry Liu, CFA, Managing Director, at Lazard have served as the Fund’s portfolio managers since the Fund’s inception in 2016.  Mr. Batsev joined Lazard in 2002 and Mr. Liu joined Lazard in 2001.

 

 

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. An investment in a fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.  

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 capital appreciation,
  • 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:

American Depositary Receipts Risk.  ADRs may involve many of the same risks as direct investments in foreign securities, including currency exchange fluctuations, less liquidity and more volatility, governmental regulations, and the potential for political and economic instability.

Counterparty Credit Risk.  The Fund’s short strategy depends on counterparties from which the Fund borrows securities.  The Fund must post collateral when borrowing securities and the Fund is subject to the risk of default by a counterparty, which could result in a loss of collateral and money owed to the Fund.

Foreign Securities Risk.  There are special risk factors associated with investing in foreign securities, including the risks of fluctuations in exchange rates, potential political and economic instability, differing accounting and financial reporting standards or inability to obtain reliable financial information regarding a company’s financial condition, less stringent regulation and supervision of foreign securities markets, custodians and securities depositories, and potential capital restrictions. 

High Portfolio Turnover Risk.  High portfolio turnover could increase the Fund’s transaction costs, result in taxable distributions to shareholders and have a negative impact on its performance.

IPO Shares Risk.  The prices of securities purchased in IPOs can be very volatile and are especially subject to the risk of decline.

Leverage Risk.  Engaging in short sales may cause leverage which may magnify the Fund’s gains or losses.

Market Risk.  Stock prices may decline over short or even extended periods not only because of company-specific developments, but also due to general economic and market conditions, adverse political or regulatory developments or interest rate fluctuations.  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. Since the Fund will typically hold both long and short positions, the Fund will suffer both when there is a general market advance and the Fund holds significant “short” positions, or when there is a general market decline and the Fund holds significant “long” positions.

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.

Non-Diversification Risk.  The Fund is non-diversified and, as such, its assets may be invested in a limited number of issuers.  This means that the Fund’s performance may be substantially impacted by the change in value of even a single holding.

Short Position Risk.  Short positions may involve substantial risks. If a short position appreciates in value during the period of the Fund’s investment, there will be a loss to the Fund that could be substantial. Short positions involve more risk than long positions because the maximum sustainable loss on a security purchased long is limited to the amount paid for the security plus the transaction costs.  However, the Fund’s potential loss on a short position is unlimited because, theoretically, there is no limit to the potential price increase of a security.

An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.


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