First Investors Investment Grade Fund

C000123919 Fund Overview

First Investors Investment Grade Fund is a US mutual fund managed by First Investors Income Funds, categorised as Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: First Investors Income Funds
• Category: Corporate Bond
• Assets under management: $398.27M
• SEC CIK: 0000740967
• SEC series ID: S000010580
• Share class ID: C000123919

C000123919 Investment Objective and Strategy

First Investors Investment Grade Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by First Investors Income Funds.

Investment objective

The Fund seeks to generate a maximum level of income consistent with investment primarily in investment grade debt securities.

Principal investment strategy

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in investment grade debt securities. Investment grade debt securities include those that are rated within the four highest ratings categories by Moodys Investors Service, Inc. (Moodys) or Standard & Poors Ratings Services (S&P) or that are unrated but determined by the Funds investment adviser, Foresters Investment Management Company, Inc. (Adviser), to be of equivalent quality. The Fund primarily invests in investment grade corporate bonds. The Fund may also invest in other investment grade securities including securities issued or guaranteed by the U.S. Government or U.S. Government-sponsored enterprises (some of which are not backed by the full faith and credit of the U.S.

Government), and mortgage-backed and other asset-backed securities. In making investment decisions, the Adviser considers the outlook for interest rates, economic forecasts and market conditions, credit ratings, and its own analysis of an issuers financial condition. The Adviser will not necessarily sell an investment if its rating is reduced. To a lesser extent, the Fund also invests in high yield, below investment grade corporate bonds (commonly known as high yield or junk bonds). The Adviser has retained Muzinich & Co, Inc. (Muzinich) as a subadvisor to manage this portion of the Fund. High yield bonds include bonds that are rated below Baa3 by Moodys or below BBB- by S&P as well as unrated bonds that are determined by Muzinich to be of equivalent quality. Muzinich will consider ratings assigned by ratings agencies in selecting high yield bonds, but relies principally on its own research and investment analysis.

In managing its portion of the Fund, Muzinich focuses on investments it believes can generate attractive and consistent income. Muzinich may sell a bond when it shows deteriorating fundamentals or it falls short of the portfolio managers expectations. In addition, the Adviser may also invest in exchange-traded funds (ETFs) that could expose the Fund to high yield securities. Additionally, from time to time, in pursuing its investment strategies, the Fund may hold significant investments in a specific market sector. The Fund may also invest in U.S. Treasury futures and options on U.S. Treasury futures to hedge against changes in interest rates.

C000123919 Costs and Fees

C000123919 costs about $76 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.76%
• Gross expense ratio: 0.83%
• Portfolio turnover: 58%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000123919 Cashflows

Over the 12 months to 2019-09, First Investors Investment Grade Fund had net outflows of $116.52M, from monthly SEC N-PORT filings.

C000123919 Debt Constituents

No individual debt constituents are reported in First Investors Investment Grade Fund's latest SEC N-PORT filing.

C000123919 Prospectus and SEC Filings

Official First Investors Investment Grade Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-02-22
• Prospectus (485BPOS) — filed 2018-02-20
• Prospectus (485BPOS) — filed 2017-02-22
• Portfolio holdings (N-PORT) — filed 2019-11-29
• Annual census (N-CEN) — filed 2019-12-13
• Annual census (N-CEN) — filed 2018-12-14

Related Funds

Other Corporate Bond funds tracked on ABC INVEST:

• First Trust Preferred Securities and Income ETF (FPE)
• Nuveen Preferred Securities and Income Fund (NPSAX)
• Spectrum Preferred and Capital Securities Income Fund (PNARX)
• Invesco Variable Rate Preferred ETF (VRP)
• First Trust Institutional Preferred Securities and Income ETF (FPEI)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.