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International Opportunities Bond Fund

Investment Adviser: Foresters Investment Management Company, Inc. is the Fund's investment adviser and Brandywine Global Investment Management, LLC serves as subadviser of the Fund.  

Portfolio Managers: David F. Hoffman, John P. McIntyre, Stephen S. Smith, Anujeet Sareen

Investment Objective and Strategy

The Fund seeks total return consisting of income and capital appreciation.

Sector Allocation (%)

As of 09/30/2018

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 09/30/2018
Top Holdings (%)
Security% of Total Net Assets
U.S. Treasury Notes, 2.225%, 04/30/20205.4%
U.S. Treasury Notes, 2.262%, 04/30/20194.8%
United Mexican States, 7.750%, 11/13/20424.5%
Titulos De Tesoreria, 7.500%, 08/26/20264.4%
United Kingdom Gilt, 1.750%, 07/22/20194.1%
Nota Do Tesouro Nacional, 10.000%, 01/01/20273.8%
Republic of Poland, 0.000%, 04/25/20193.4%
Republic of South Africa, 8.750%, 02/28/20483.4%
United Mexican States, 8.500%, 11/18/20383.1%
United Mexican States, 8.500%, 05/31/20293.0%
Total39.9%

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.

Returns as of 11/30/2018 09/30/2018
Gross/Net Exp as of 09/30/2017 Gross/Net Exp as of 09/30/2017
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 NAV-4.502.690.09N/A0.3508/17/20121.41/1.41
w/ sales charge-8.371.30-0.73N/A-0.3208/17/20121.41/1.41
Advisorat NAV-4.173.050.36N/A-0.0904/01/20131.11/1.11
Institutionalat NAV-4.033.220.56N/A0.1004/01/20130.95/0.95
Average Annual Total Returns
ClassA
at NAV
1 Yr. %-4.50
3 Yr. %2.69
5 Yr. %0.09
10 Yr. %N/A
Since inception*0.35
Inception date08/17/2012
Gross/Net Exp %1.41/1.41
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %-8.37
3 Yr. %1.30
5 Yr. %-0.73
10 Yr. %N/A
Since inception*-0.32
Inception date08/17/2012
Gross/Net Exp %1.41/1.41
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %-4.17
3 Yr. %3.05
5 Yr. %0.36
10 Yr. %N/A
Since inception*-0.09
Inception date04/01/2013
Gross/Net Exp %1.11/1.11
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %-4.03
3 Yr. %3.22
5 Yr. %0.56
10 Yr. %N/A
Since inception*0.10
Inception date04/01/2013
Gross/Net Exp %0.95/0.95
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 NAV-6.581.68-0.36N/A-0.1808/17/20121.41/1.41
w/ sales charge-10.300.29-1.17N/A-0.8308/17/20121.41/1.41
Advisorat NAV-6.331.96-0.09N/A-0.6704/01/20131.11/1.11
Institutionalat NAV-6.192.160.10N/A-0.4904/01/20130.95/0.95
Average Annual Total Returns
ClassA
at NAV
1 Yr. %-6.58
3 Yr. %1.68
5 Yr. %-0.36
10 Yr. %N/A
Since inception*-0.18
Inception date08/17/2012
Gross/Net Exp %1.41/1.41
Average Annual Total Returns
ClassA
w/ sales charge
1 Yr. %-10.30
3 Yr. %0.29
5 Yr. %-1.17
10 Yr. %N/A
Since inception*-0.83
Inception date08/17/2012
Gross/Net Exp %1.41/1.41
Average Annual Total Returns
ClassAdvisor
at NAV
1 Yr. %-6.33
3 Yr. %1.96
5 Yr. %-0.09
10 Yr. %N/A
Since inception*-0.67
Inception date04/01/2013
Gross/Net Exp %1.11/1.11
Average Annual Total Returns
ClassInstitutional
at NAV
1 Yr. %-6.19
3 Yr. %2.16
5 Yr. %0.10
10 Yr. %N/A
Since inception*-0.49
Inception date04/01/2013
Gross/Net Exp %0.95/0.95

*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 and expense ratios may be higher or lower than the 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% for Equity Funds, 4% for the Municipal Funds and Bond Funds, except First Investors Limited Duration, High Quality Bond Fund and First Investors Floating Rate Fund, which are 2.5%. 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. Returns may reflect waivers or reimbursements of certain expenses. Absent of these waivers or reimbursements, returns may be lower.

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.

Sector Allocation (%)

As of 09/30/2018

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 09/30/2018
Top Holdings (%)
Security% of Total Net Assets
U.S. Treasury Notes, 2.225%, 04/30/20205.4%
U.S. Treasury Notes, 2.262%, 04/30/20194.8%
United Mexican States, 7.750%, 11/13/20424.5%
Titulos De Tesoreria, 7.500%, 08/26/20264.4%
United Kingdom Gilt, 1.750%, 07/22/20194.1%
Nota Do Tesouro Nacional, 10.000%, 01/01/20273.8%
Republic of Poland, 0.000%, 04/25/20193.4%
Republic of South Africa, 8.750%, 02/28/20483.4%
United Mexican States, 8.500%, 11/18/20383.1%
United Mexican States, 8.500%, 05/31/20293.0%
Total39.9%

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.

Regional Allocation (%)

As of 09/30/2018
Security% of Total Net Assets
United States35.5%
Mexico13.5%
Malaysia7.4%
Poland7.3%
Australia6.3%
South Africa5.1%
Colombia4.4%
United Kingdom4.1%
Brazil3.8%
Indonesia2.6%
Peru1.8%
Norway1.2%
Germany1.2%
Venezuela0.7%
Total94.9%

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%.

Credit Quality (%)

As of 09-30-2018

The Credit Quality table depicts the distribution of the credit quality ratings of the Fund's portfolio holdings. In line with the methodology used by Barclays Global indices, the middle rating from the three rating agencies (Standard and Poor's Rating Services, Moody's Investors Services, Inc., and Fitch Ratings, Inc.) are assigned to each security. In the event that ratings are provided by only two agencies, the lowest rating is assigned. If only one agency assigns a rating, that rating is applied. The equivalent numerical rating is assigned to each security based on the security level scale. A portfolio level scale is applied on the weighted average calculation to round for fraction numerical ratings and then its converted to an alpha weighted average rating. Cash is included and receives the highest rating. All unrated bonds are applied the lowest rating on the numeric scale for portfolio compliance purposes.

Risk Measure 3 Year

As of 09/30/2018
3 Year *
Alpha** 0.64
Beta** 0.86
R-Squared** 66.84
Sharpe Ratio 0.26
Standard Deviation 8.25
* Calculations measured against Class A shares
** Measured against the Fund's benchmark
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) 4.00%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
Class A 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 0.75% 0.75% 0.75%
Distribution and Service (12b-1) Fees 0.30% None None
Other Expenses 0.36% 0.36% 0.20%
Total Annual Fund Operating Expenses 1.41% 1.11% 0.95%

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.

Managers

The Fund is managed primarily by a team of investment professionals  at Brandywine Global.  Stephen S. Smith, Managing Director and Portfolio Manager, David F. Hoffman, CFA, Managing Director and Portfolio Manager, and John P. McIntyre, CFA, Portfolio Manager/Senior Research Analyst, have served as the Fund’s Portfolio Managers since the Fund’s inception in 2012 and Anujeet Sareen, CFA, Portfolio Manager, has served as the Fund’s Portfolio Manager since 2017.

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.

A Word About Risk

Fixed income securities are subject to interest rate, credit, market and liquidity risks. International investments are subject to special risks including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets.

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

Here are the principal risks of investing in the Fund:

Credit Risk.  A debt issuer may become unable or unwilling to pay interest or principal when due.  The prices of debt securities are affected by the credit quality of the issuer.  

Currency Risk.  The value of foreign currency-denominated investments increases or decreases as exchange rates change.  Currency exchange rates can be volatile, and are affected by factors such as economic conditions, actions by U.S. and foreign governments or central banks, the imposition of currency controls and other political or regulatory conditions. 

Derivatives Risk.  Forward foreign currency contracts and futures involve a number of risks, such as possible default by the counterparty to the transaction, incorrect judgment by the portfolio manager as to certain market movements and the potential of greater losses than if these techniques had not been used by the Fund.  These investments can also increase the volatility of the Fund’s share price and expose it to significant additional costs.  Derivatives may be difficult to sell, unwind or value.

Emerging Markets Risk.  The risks of investing in foreign securities are heightened when investing in emerging or developing markets.  The economies and political environments of emerging or developing countries tend to be more unstable, resulting in more volatile rates of returns than developed markets and substantially greater risk.

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 an issuer’s financial condition, less stringent regulation and supervision of foreign securities markets, custodians and securities depositories, and potential capital restrictions.  Some securities issued by foreign governments or their subdivisions, agencies and instrumentalities may not be backed by the full faith and credit of the foreign government and some foreign governments may default on principal and interest payments.  To the extent the Fund significantly invests in securities of a single country or region, it is more likely to be affected by events or conditions of that area.  As a result, it may be more volatile than a more geographically diversified fund.

High Yield Securities Risk.  High yield debt securities (commonly known as “junk bonds”), including floating rate loans, have greater credit risk than higher quality debt securities because their issuers may not be as financially strong.  High yield securities are inherently speculative due to the risk associated with the issuer’s ability to make principal and interest payments.  During times of economic stress, high yield securities issuers may be unable to access credit to refinance their bonds or meet their credit obligations.

Interest Rate Risk.   In general, when interest rates rise, the market value of a debt security declines, and when interest rates decline, the market value of a debt security increases.  Interest rates across the U.S. economy have recently increased and may continue to increase, thereby heightening the Fund’s exposure to the risks associated with rising interest rates.  Floating rate securities may be less sensitive than fixed-rate instruments to interest rate changes, but they could remain sensitive over the short-term to interest rate changes.  The interest rates on floating rate securities adjust periodically and may not correlate to prevailing interest rates between adjustments.  Securities with longer maturities and durations are generally more sensitive to interest rate changes.  

Liquidity Risk.  Certain investments may be difficult or impossible to sell at a favorable time or price.  Market developments may cause the Fund’s investments to become less liquid and subject to erratic price movements.  This risk is particularly acute in the case of foreign securities that are traded in smaller, less-developed or emerging markets.  High yield securities also tend to be less liquid.

Market Risk.  The prices of the debt securities held by the Fund may decline in response to certain events, such as general economic and market conditions, adverse political or regulatory developments and 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.

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.

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.

Sovereign and Quasi-Sovereign Debt Securities Risk.  The issuer of the sovereign debt or the authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. During periods of economic uncertainty, the market prices of sovereign debt, and the Fund’s net asset value, may be volatile.

Supranational Risk.  Obligations of supranational organizations are subject to the risk that the governments on whose support the entity depends for its financial backing or repayment may be unable or unwilling to provide that support.  Obligations of a supranational organization that are denominated in foreign currencies will also be subject to the risks associated with investment in foreign currencies.

Valuation Risk.  The sales price the Fund could receive for a portfolio investment may differ from the Fund’s valuation of the investment, particularly for investments that trade in thin or volatile markets or that are fair valued.  Fair valuation is subjective and different market participants may assign different values to the same 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.