December 18, 2007 / 9:55 PM / 12 years ago

First Eagle reopens two mutual funds

NEW YORK, Dec 18 (Reuters) - Arnhold and S. Bleichroeder Advisers said on Tuesday it will reopen two of its First Eagle mutual funds that invest in overseas markets.

The $21 billion First Eagle Global Fund (SGENX.O) invests in a range of asset classes in the United States and overseas. That fund was closed to new investors in March 2005.

The $10 billion First Eagle Overseas Fund (SGOVX.O) invests mostly in non-U.S. stocks. That fund was closed to new investors in February 2004.

The funds will be reopened effective Jan. 14.

Arnhold and S. Bleichroeder, adviser to the funds, said the funds had been closed because of rapidly increasing cash flows at the time.

Jean-Marie Eveillard, fund manager of First Eagle Funds, said the current volatile market environment may offer significant investment opportunities. (Reporting by Cal Mankowski, editing by Richard Chang)

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