<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE CARI LEVINE
TITLE ASSISTANT TREASURER
[ARTICLE] 6
[SERIES]
[NUMBER] 011
[NAME] FIRST EAGLE FUND OF AMERICA CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 331,191,367
[INVESTMENTS-AT-VALUE] 395,586,898
[RECEIVABLES] 4,148,745
[ASSETS-OTHER] 469,044
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 400,204,687
[PAYABLE-FOR-SECURITIES] 2,983,194
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,749,199
[TOTAL-LIABILITIES] 7,732,393
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 298,179,898
[SHARES-COMMON-STOCK] 18,197,497
[SHARES-COMMON-PRIOR] 12,356,370
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 32,718,972
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 62,245,749
[NET-ASSETS] 392,472,294
[DIVIDEND-INCOME] 2,367,141
[INTEREST-INCOME] 1,224,410
[OTHER-INCOME] 0
[EXPENSES-NET] 4,925,774
[NET-INVESTMENT-INCOME] (1,334,223)
[REALIZED-GAINS-CURRENT] 32,670,646
[APPREC-INCREASE-CURRENT] 14,035,368
[NET-CHANGE-FROM-OPS] 45,368,798
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 32,159,998
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 7,168,769
[NUMBER-OF-SHARES-REDEEMED] (2,802,071)
[SHARES-REINVESTED] 1,474,429
[NET-CHANGE-IN-ASSETS] 138,033,969
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 32,207,528
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3,520,419
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4,964,092
[AVERAGE-NET-ASSETS] 328,507,419
[PER-SHARE-NAV-BEGIN] 20.59
[PER-SHARE-NII] (.08)
[PER-SHARE-GAIN-APPREC] 3.62
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] (2.60)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 21.53
[EXPENSE-RATIO] 1.5
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[SERIES]
[NUMBER] 012
[NAME] FIRST EAGLE FUND OF AMERICA CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 331191367
[INVESTMENTS-AT-VALUE] 395586898
[RECEIVABLES] 4148645
[ASSETS-OTHER] 469044
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 400204887
[PAYABLE-FOR-SECURITIES] 2983194
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4749199
[TOTAL-LIABILITIES] 7732393
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 661283
[SHARES-COMMON-STOCK] 31502
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 32718972
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 62245749
[NET-ASSETS] 392472294
[DIVIDEND-INCOME] 2367141
[INTEREST-INCOME] 1224410
[OTHER-INCOME] 0
[EXPENSES-NET] 4928767
[NET-INVESTMENT-INCOME] (1337216)
[REALIZED-GAINS-CURRENT] 32670646
[APPREC-INCREASE-CURRENT] 14035368
[NET-CHANGE-FROM-OPS] 45368798
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 31502
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 138033969
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 32207528
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3520419
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 4967085
[AVERAGE-NET-ASSETS] 328507419
[PER-SHARE-NAV-BEGIN] 21.07
[PER-SHARE-NII] (.16)
[PER-SHARE-GAIN-APPREC] .52
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 21.43
[EXPENSE-RATIO] 2.2
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[SERIES]
[NUMBER] 021
[NAME] FIRST EAGLE INTERNATIONAL FUND CLASS Y
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 34779235
[INVESTMENTS-AT-VALUE] 39420909
[RECEIVABLES] 348940
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 12240
[TOTAL-ASSETS] 39782089
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1251918
[TOTAL-LIABILITIES] 1251918
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 30424053
[SHARES-COMMON-STOCK] 2376066
[SHARES-COMMON-PRIOR] 2246039
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3141485
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 4647432
[NET-ASSETS] 38530171
[DIVIDEND-INCOME] 608725
[INTEREST-INCOME] 232291
[OTHER-INCOME] 0
[EXPENSES-NET] 987877
[NET-INVESTMENT-INCOME] (146861)
[REALIZED-GAINS-CURRENT] 2544157
[APPREC-INCREASE-CURRENT] (210168)
[NET-CHANGE-FROM-OPS] 2185732
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 2212663
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1473222
[NUMBER-OF-SHARES-REDEEMED] (1460355)
[SHARES-REINVESTED] 117160
[NET-CHANGE-IN-ASSETS] 4214930
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 2929902
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 494580
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1045315
[AVERAGE-NET-ASSETS] 42584004
[PER-SHARE-NAV-BEGIN] 16.17
[PER-SHARE-NII] (.06)
[PER-SHARE-GAIN-APPREC] .95
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] (.97)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 16.09
[EXPENSE-RATIO] 2.4
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[SERIES]
[NUMBER] 022
[NAME] FIRST EAGLE INTERNATIONAL FUND CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] OCT-31-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 34779235
[INVESTMENTS-AT-VALUE] 39420909
[RECEIVABLES] 348940
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 12240
[TOTAL-ASSETS] 39782089
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 1251918
[TOTAL-LIABILITIES] 1251918
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 345547
[SHARES-COMMON-STOCK] 19217
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 3141485
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 4647432
[NET-ASSETS] 38530171
[DIVIDEND-INCOME] 608725
[INTEREST-INCOME] 232291
[OTHER-INCOME] 0
[EXPENSES-NET] 989273
[NET-INVESTMENT-INCOME] (148257)
[REALIZED-GAINS-CURRENT] 2544157
[APPREC-INCREASE-CURRENT] (210168)
[NET-CHANGE-FROM-OPS] 2185732
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 19217
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 4214930
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 2929902
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 494580
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1046711
[AVERAGE-NET-ASSETS] 42584004
[PER-SHARE-NAV-BEGIN] 16.90
[PER-SHARE-NII] .84
[PER-SHARE-GAIN-APPREC] (1.73)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 16.01
[EXPENSE-RATIO] 2.9
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
To the Shareholders and Board of Trustees of
First Eagle Trust:
In planning and performing our audit of the financial statements of First Eagle
Trust (the "Fund") for the year ended October 31, 1998, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or frauds may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in the internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities that we consider to be material weaknesses as defined above as of
October 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
New York, New York
December 14, 1998
</TABLE>
