First Investors International Opportunities Bond Fund

C000123922 Fund Overview

First Investors International Opportunities Bond Fund is a US mutual fund managed by First Investors Income Funds, categorised as 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: Bond
• Assets under management: $107.30M
• SEC CIK: 0000740967
• SEC series ID: S000037814
• Share class ID: C000123922

C000123922 Investment Objective and Strategy

First Investors International Opportunities Bond 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 total return consisting of income and capital appreciation.

Principal investment strategy

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. For purposes of the 80% policy, bonds include debt securities issued or guaranteed by national governments, their agencies or instrumentalities and political sub-divisions (including inflation index linked securities); debt securities of supranational organizations such as freely transferable promissory notes, bonds and debentures; corporate debt securities, including freely transferable promissory notes, debentures, zero coupon bonds, commercial paper, certificates of deposits, and bankers acceptances issued by industrial, utility, finance, commercial banking or bank holding company organizations; emerging markets debt; and below investment grade securities, also known as high yield debt or junk bonds.

The Fund may invest in fixed-rate and floating-rate securities. The Fund will primarily invest its assets in debt securities (including fixed-rate and floating-rate securities) of issuers located in developed countries outside of the United States. An issuer is considered by the subadviser to be located in a developed country if such issuer meets certain criteria of the subadviser. The Fund will primarily invest in sovereign debt and currencies, as well as in investment grade corporate bonds. Any country that, at the time a security is purchased, has a sovereign debt rating of A- or better from at least one nationally recognized statistical ratings organization (NRSRO) or is included in the Citigroup World Government Bond Index will be considered a developed country. The Fund may also invest in emerging markets.

The Fund may invest in both investment grade and, to a lesser extent, below investment grade securities. Investment grade securities are securities rated at the time of purchase by a NRSRO within one of the top four categories, or, if unrated, judged by the subadviser to be of comparable credit quality. The Fund may invest in forward foreign currency contracts in order to hedge its currency exposure in bond positions or to gain currency exposure. The Fund may also invest in interest rate and bond futures to manage interest rate risk and for hedging purposes. These investments may be significant at times. Although the Fund has the flexibility to make use of forward foreign currency contracts it may choose not to for a variety of reasons, even under very volatile market conditions. The Fund will normally hold a portfolio of debt securities of issuers located in a minimum of six countries.

The weighted average duration of the Funds portfolio is expected to range from 1 to 10 years, but for individual markets may be greater or lesser depending on the subadvisers outlook for interest rates and the potential for capital gains. The subadviser follows a top-down value-driven process to investing and therefore seeks to identify relative value in the international bond markets. The subadviser defines as undervalued those markets where it believes real interest rates are high and the currency is undervalued with potential to appreciate. The subadviser will concentrate investments in those undervalued markets where it believes cyclical business conditions, as well as secular economic and political trends, provide the best opportunity for declining interest rates and a return to lower real rates over time.

The subadviser believes that such economic conditions provide the best potential to achieve capital appreciation. The Fund is non-diversified.

C000123922 Costs and Fees

C000123922 costs about $108 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.08%
• Gross expense ratio: 1.08%
• Portfolio turnover: 41%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000123922 Cashflows

Over the 12 months to 2019-09, First Investors International Opportunities Bond Fund had net inflows of $4.87M, from monthly SEC N-PORT filings.

C000123922 Debt Constituents

No individual debt constituents are reported in First Investors International Opportunities Bond Fund's latest SEC N-PORT filing.

C000123922 Prospectus and SEC Filings

Official First Investors International Opportunities Bond 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 Bond funds tracked on ABC INVEST:

• Great-West T. Rowe Price Equity Income Fund (MXTQX)
• Absolute Return Currency Fund (JCUAX)
• ICON Flexible Bond Fund (IOBCX)
• Tributary Growth Opportunities Fund (FOGRX)
• Oakhurst Fixed Income Fund (FWFIX)

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.