FIRST EAGLE SOGEN FUNDS, INC.
FIRST EAGLE SOGEN GLOBAL FUND
FIRST EAGLE SOGEN OVERSEAS FUND
FIRST EAGLE SOGEN GOLD FUND
FIRST EAGLE SOGEN MONEY FUND
SUPPLEMENT DATED JANUARY 13, 2000 TO STATEMENT OF ADDITIONAL
INFORMATION DATED AUGUST 1, 1999.
THE DISCLOSURE IN THE STATEMENT OF ADDITIONAL INFORMATION UNDER
"INVESTMENT ADVISER AND OTHER SERVICES" IS REPLACED IN ITS ENTIRETY TO READ AS
FOLLOWS:
As described in the Prospectus of First Eagle SoGen Funds, Inc. (the
"Company"), Arnhold and S. Bleichroeder Advisers, Inc. ("ASB Advisers") is the
Company's investment adviser and, as such, provides portfolio management and
related services to the Global Fund, the Overseas Fund, the Gold Fund and the
Money Fund.
Under its investment advisory contract with the Company, which became
effective December 31, 1999, ASB Advisers furnishes each Fund with investment
advice consistent with that Fund's stated investment objective and investment
policies. ASB Advisers also furnishes the Company with office space and certain
facilities required for the business of the Funds, and statistical and research
data, and pays any compensation and expenses of the Company's officers.
In return for the services listed above, each Fund pays ASB Advisers a
fee at the annual rate of the average daily value of the Fund's net assets as
follows:
Global Fund 1.00% of the first $25 million and 0.75%
of the excess over $25 million
Overseas Fund 0.75%
Gold Fund 0.75%
Money Fund 0.40%
Advisory fees are accrued daily and paid monthly. For the fiscal year
ended March 31, 1999, pursuant to a predecessor advisory contract with Societe
Generale Asset Management Corp. ("SGAM Corp.") that is substantially similar
with the current agreement, Global Fund, Overseas Fund, Gold Fund and Money Fund
paid investment advisory fees in the amount of $23,196,530, $5,519,451, $201,757
and $122,538, respectively. No advisory fee waiver or expense reimbursement for
Money Fund occurred during the year ended March 31, 1999. However, SGAM Corp.
voluntarily reimbursed the Class I shares of Global Fund and Overseas Fund in
the amounts of $30,997 and $9,036, respectively during that fiscal period. For
the fiscal year ended March 31, 1998, Global Fund, Overseas Fund and Gold Fund
paid investment advisory fees in the amount of $30,954,079, $7,798,589 and
$283,300, respectively. During this same period, $37,399 of the investment
advisory fee of $60,497 for Money Fund was waived by SGAM Corp. For the fiscal
year ended March 31, 1997, Global Fund, Overseas Fund and Gold Fund paid
investment advisory fees in the amount of $26,404,805, $5,899,446 and $449,545,
respectively. For the same period, $38,752 of the investment advisory fee of
$43,519 for Money Fund was waived by SGAM Corp.
Under the investment advisory contract between the Company and ASB
Advisers, the investment adviser is responsible for the management of each of
the Funds' portfolios and constantly reviews their holdings in the light of its
own research analyses and those of other relevant sources. Reports of portfolio
transactions are given regularly to the Directors of the Company, who review
each Fund's portfolio at regular meetings held four TIMES A YEAR. As of the date
of this Statement of Additional Information, as supplemented, ASB Advisers did
not own any shares of the Company. A Fund may, with the approval of the
Company's Board of Directors, from time to time enter into arrangements with
institutions to provide sub-transfer agent services and other related services
where a number of persons hold Fund shares through one account registered with
the Fund's transfer agent, DST Systems, Inc. ("DST") in the name of that
institution. Under those arrangements, a Fund may compensate the institution
rendering such services on a per sub-account basis.
THE SECOND PARAGRAPH AND TABLE UNDER "MANAGEMENT OF THE
COMPANY" IN THE STATEMENT OF ADDITIONAL INFORMATION LISTING THE DIRECTORS AND
OFFICERS OF THE COMPANY ARE REPLACED IN THEIR ENTIRETY TO READ AS FOLLOWS:
The following table sets forth the principal occupation or
employment of the members of the Board of Directors and principal officers of
the Company. Each of the following persons is also a Director and/or officer of
First Eagle SoGen Variable Funds, Inc.
<TABLE>
<CAPTION>
PRINCIPAL OCCUPATION
POSITION HELD DURING THE PAST FIVE
NAME (AGE) AND ADDRESS(1) WITH THE COMPANY (5) YEARS
- ---------------------- ---------------- ---------
<S> <C> <C>
*John P. Arnhold (46) Director Co-President and Director, Arnhold and S.
and Co-President Bleichroeder Advisers, Inc.; Co-President and
Director, Arnhold and S. Bleichroeder, Inc.;
President and Director, Arnhold and S.
Bleichroeder UK Ltd.; Co-President and
Director, ASB Securities, Inc.; Director,
Aquila International Fund, Ltd.; President,
Worldvest, Inc.; Co-President and Trustee,
First Eagle Funds.
Candace K. Beinecke (53) Director Managing Partner, Hughes Hubbard & Reed;
One Battery Park Plaza Director, Jacob's Pillow Dance Festival, Inc.,
New York, NY 10004 Historic Preservation Projects, Inc., and
Merce Cunningham Dance Foundation, Inc.;
Trustee, First Eagle Funds.
Edwin J. Ehrlich (68) Director President, Ehrlich Capital Management;
2976 Lonni Lane Director, Pension Fund Trusts -- ITT Corp.;
Merrick, NY 11566 Advisory Board Member, Emerging World
Investors Limited; Trustee, First Eagle Funds.
Robert J. Gellert (69) Director Manager, United Continental Corporation;
122 EAST 42ND Street General Partner, Windcrest Partners; Trustee,
New York, NY 10168 First Eagle Funds.
James E. Jordan (54) Director Private Investor; Consultant to The Jordan
767 Fifth Avenue Company (private investment banking company);
New York, NY 10153 until June 1997, President and chief
investment officer of The William Penn Company
(a registered investment adviser); Director,
Leucadia National Corporation, Empire
Insurance Company and J.Z. Equity Partners,
Plc. (a British investment trust company);
Director, School of International and Public
Affairs of Columbia University; Vice Chairman,
New York State Board of The Nature
Conservancy; Trustee, First Eagle Funds.
William M. Kelly (55) Director Senior Associate, Lingold Association;
500 Fifth Avenue Independent General Partner, ML Venture
New York, NY 10110 Partners I, L.P. and ML Venture Partners II,
L.P.; Trustee, New York Foundation; Treasurer
and Trustee, Black Rock Forest Conservation;
Trustee, First Eagle Funds.
Donald G. McCouch (57) Director Prior to 1997, Senior Managing Director of
67 West Hills Road Chemical Bank.
New Canaan, CT 06840
Fred J. Meyer (69) Director Vice Chairman of Omnicom Group, Inc. since
437 Madison Avenue 1998; and prior thereto, Chief Financial
New York, NY 10022 Officer; Director Novartis Corporation,
Zurich-American Insurance Cos and Medialink,
Inc.; Trustee, National Park Trust.
Dominique Raillard (61) Director Managing Director of Act 2 International
15, boulevard Delessert (consulting) since July 1995; Group Executive
75016 Paris France Vice President of Promodes (food retailing)
since 1978.
Nathan Snyder (65) Director Independent Consultant.
163 Parish Road South
New Canaan, CT 06840
*Stanford S. Warshawsky (62) Director and Chairman Co-President, Secretary and Director, Arnhold
of the Board and S. Bleichroeder, Inc.; Co-President and
Director, Arnhold and S. Bleichroeder
Advisers, Inc.; Chairman and Director, Arnhold
and S. Bleichroeder UK Ltd.; Co-President and
Director, ASB Securities, Inc.; Director,
German-American Chamber of Commerce; Chairman
and Trustee, First Eagle Funds.
Jean-Marie Eveillard (59) Co-President Senior Vice President, Arnhold and S.
Bleichroeder, Inc.; prior to 2000, Director
and President, Societe Generale Asset
Management Corp.
Charles de Vaulx (37) Senior Vice President Senior Vice President, Arnhold and S.
Bleichroeder, Inc.; prior to 2000, Senior Vice
President, Societe Generale Asset Management
Corp. since 1998; Associate Portfolio Manager
from December 1996; Securities Analyst,
Societe Generale Asset Management Corp. from
prior to 1994 to 1996.
Robert Bruno (35) Vice President, Secretary Senior Vice President, Arnhold and S.
and Treasurer Bleichroeder, Inc.; Vice President, Arnhold
and S. Bleichroeder Advisers, Inc.; Vice
President and Secretary, First Eagle Funds;
prior to 1997, President and Chief Operating
Officer, Coelho Associates LLC; and Senior
Vice President, Schroder Wertheim Investment
Services, Inc.
Edwin S. Olsen (59) Vice President Vice President, Arnhold and S. Bleichroeder,
Inc.; prior to 2000, Vice President, SG Cowen
Corporation.
Elizabeth Tobin (46) Vice President Vice President, Arnhold and S. Bleichroeder,
Inc.; prior to 2000, Senior Vice President,
Societe Generale Asset Management Corp. since
1998; Associate Portfolio Manager from
December 1996; Securities Analyst, Societe
Generale Asset Management Corp. from prior to
1994 to 1996.
Tracy LaPointe Saltwick (40) Vice President and Senior Vice President, Arnhold and S.
Compliance Officer Bleichroeder, Inc.; Vice President, ASB
Securities, Inc.; Vice President and
Compliance Officer, First Eagle Funds.
</TABLE>
* "Interested" director, as defined in the Investment Company Act, by reason of
affiliation with Arnhold and S. Bleichroeder, Inc. and Arnhold and S.
Bleichroeder Advisers, Inc.
(1) Unless otherwise stated, the address is: Arnhold and S. Bleichroeder, Inc.,
1345 Avenue of the Americas, New York, NY 10105.
