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 PROSPECTUS DATED AUGUST 1, 1999.
FUND NAME CHANGES. The names of the Company and of each Fund have been changed.
The Company, SoGen Funds, Inc. has been renamed First Eagle SoGen Funds, Inc.
SoGen International Fund has been renamed First Eagle SoGen Global Fund ("Global
Fund") in order to reflect the "global" aspect of the fund's investments in both
U.S. and international securities. In addition, SoGen Overseas Fund has been
renamed First Eagle SoGen Overseas Fund ("Overseas Fund"), SoGen Gold Fund has
been renamed First Eagle SoGen Gold Fund ("Gold Fund") and SoGen Money Fund has
been renamed First Eagle SoGen Money Fund ("Money Fund").
NEW INVESTMENT ADVISORY ARRANGEMENTS. As approved by the shareholders of each
Fund at a Special Meeting of Shareholders held on December 22, 1999, Arnhold and
S. Bleichroeder Advisers, Inc. ("ASB Advisers") became the investment adviser to
each of the Funds effective as of December 31, 1999 under a contract that is
substantially identical to the Funds' prior advisory contract with Societe
Generale Asset Management Corp. ("SGAM Corp."), except that each Fund now pays
accrued advisory fees on a monthly basis. ASB Advisers is a wholly-owned
subsidiary of Arnhold and S. Bleichroeder, Inc. ("ASB"), a privately owned
investment firm that, on December 31, 1999, acquired 80.1% of the outstanding
equity securities of the Funds' prior investment adviser. Mr. Jean-Marie
Eveillard, Chief Executive Officer of SGAM Corp. and owner of the remaining
19.9% of the equity of SGAM Corp., has entered into an agreement with ASB
providing for the eventual sale of his shares of SGAM Corp. to ASB in three
installments over a period of approximately eight years.
The primary investment management team of SGAM Corp., including Jean-Marie
Eveillard, has joined ASB Advisers and will continue to manage the portfolios of
the Funds. The investment objectives and policies of each Fund have remained
unchanged.
THE DISCLOSURE IN THE PROSPECTUS UNDER "MANAGEMENT OF THE COMPANY - INVESTMENT
ADVISER" IS REPLACED IN ITS ENTIRETY TO READ AS FOLLOWS:
Effective December 31, 1999, the adviser of the Company is ASB Advisers, a
wholly owned subsidiary of ASB. ASB is the successor firm to two German banking
houses -- Gebr. Arnhold founded in Dresden in 1864 and S. Bleichroeder founded
in Berlin in 1803. The firm moved to New York City in 1937 and conducts its
activities under the current name of Arnhold and S. Bleichroeder, Inc. ASB uses
its experience and worldwide contacts to provide asset management, global
securities research and trading, and investment banking services to
institutional clients throughout the world.
ASB Advisers is responsible for the continuous supervision and management of the
Funds under the direction of the Funds' Board of Directors. The advisory fee
rates paid by each of the Funds to ASB Advisers are the same as the rates that
the Funds paid to SGAM Corp., the Funds' former investment adviser. For the
fiscal year ended March 31, 1999, Global Fund paid advisory fees equal to 1% of
the first $25 million and 0.75% of the amount in excess of $25 million of its
average daily net asset value and Overseas Fund, Gold Fund, and Money Fund paid
advisory fees equal to 0.75%, 0.75%, and 0.40%, respectively, of their average
daily net asset values.
