First Investors Strategic Income Fund

C000124045 Fund Overview

First Investors Strategic Income Fund is a US mutual fund managed by First Investors Income Funds, categorised as Emerging Markets Value Equity. 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: Emerging Markets Value Equity
• Assets under management: $137.65M
• SEC CIK: 0000740967
• SEC series ID: S000039986
• Share class ID: C000124045

C000124045 Investment Objective and Strategy

First Investors Strategic Income 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 a high level of current income.

Principal investment strategy

The Fund is a fund-of-funds and seeks to achieve its investment objective by investing primarily in a combination of underlying funds that currently exist or may become available for investment in the future for which Foresters Investment Management Company, Inc. (the Adviser or FIMCO), acts as the investment adviser (Underlying Funds). The Fund may invest in unaffiliated funds, which are also considered to be Underlying Funds. The Fund has the flexibility to invest in various combinations of Underlying Funds and will have exposure to a variety of fixed income securities, floating rate securities, equity securities, and other instruments by investing through a combination of the Underlying Funds. The income-related Underlying Funds are currently composed of the First Investors Government Cash Management Fund, First Investors Limited Duration Bond Fund, First Investors Government Fund, First Investors Investment Grade Fund, First Investors Fund For Income, First Investors Floating Rate Fund, First Investors International Opportunities Bond Fund, First Investors Tax Exempt Income Fund and First Investors Tax Exempt Opportunities Fund (Underlying Income Funds).

The Underlying Income Funds may invest in fixed income securities of any maturity, including U.S. Government securities, U.S. Government-sponsored enterprise (GSE) securities, which may not be backed by the full faith and credit of the U.S. Government, corporate bonds, municipal securities, mortgage-backed securities, asset-backed securities, below investment grade debt securities (commonly known as high yield debt securities or junk bonds), high yield secured floating rate loans and/or bonds, sovereign debt and currencies of developed and emerging market countries, futures, options, forward foreign currency contracts, inverse floaters and/or interest rate swaps. The First Investors Tax Exempt Income Fund and First Investors Tax Exempt Opportunities Fund primarily invest in municipal securities that pay interest that is exempt from federal income tax and is not a tax preference item for purposes of the federal alternative minimum tax (AMT).

An Underlying Fund may, at times, engage in short-term trading, which may result in high portfolio turnover. The equity-related Underlying Funds are currently composed of the First Investors Equity Income Fund, which primarily invests in dividend-paying stocks of any size company, the First Investors Real Estate Fund, which primarily invests in securities issued by real estate investment trusts (REITs), and the First Investors Covered Call Strategy Fund, which invests in a portfolio of equity securities and writes (sells) call options on those securities (Underlying Equity Funds). The Fund will primarily invest in the Underlying Income Funds. While the percentage of allocation to each Underlying Fund is flexible, under normal conditions, the Fund will invest approximately 95% (within a range of 85%-100%) of its net assets in the Underlying Income Funds and approximately 5% (within a range of 0%-15%) of its net assets in the Underlying Equity Funds.

The Fund anticipates that it will invest a significant portion of its net assets in the First Investors Limited Duration Bond Fund, First Investors Investment Grade Fund, First Investors Fund For Income, First Investors Floating Rate Fund, First Investors Government Fund and First Investors International Opportunities Bond Fund and, to a lesser degree, in the First Investors Government Cash Management Fund, First Investors Tax Exempt Income Fund, First Investors Tax Exempt Opportunities Fund, First Investors Equity Income Fund, First Investors Real Estate Fund and First Investors Covered Call Strategy Fund. Based on this allocation, the Fund, under normal conditions, is expected to have significant exposure to the Underlying Funds investments in below investment grade debt securities and debt securities of foreign issuers.

The Fund will invest in particular Underlying Funds based on various criteria. The Fund will adjust the allocation to the Underlying Funds based upon a relative value analysis that takes into account, among other things, the Underlying Funds respective investment objectives, policies, investment strategies and asset class and sector exposures in light of the overall outlook for the economy. In particular, the relative value analysis looks at the historical relationships among different asset classes and sectors as well as the macroeconomic outlook, interest rate forecasts, relative valuation levels in the equity and fixed income markets, and predicted areas of economic growth. While the Fund can invest in any or all of the Underlying Funds, the Fund may not be invested in any one of the Underlying Funds at any particular time.

In addition to investments in the Underlying Funds, the Fund may also invest directly in commercial paper, short-term corporate bonds and notes, floating and variable rate notes, U.S. Treasury securities and short-term obligations of GSEs (some of which are not backed by the full faith and credit of the U.S. Government). The Fund may also invest in U.S. Treasury futures and options on U.S. Treasury futures to adjust interest rate risk (i.e., either increasing or decreasing the average weighted duration of the Funds investments). The particular Underlying Funds in which the Fund may invest, the particular ranges and investments in the Underlying Funds may change from time to time without shareholder approval or notice. The Fund may invest up to 5% of its total assets in additional Underlying Funds that are not specifically described herein.

C000124045 Costs and Fees

C000124045 costs about $86 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.86%
• Gross expense ratio: 0.86%
• Portfolio turnover: 58%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000124045 Cashflows

Over the 12 months to 2019-09, First Investors Strategic Income Fund had net outflows of $10.21M, from monthly SEC N-PORT filings.

C000124045 Debt Constituents

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

C000124045 Prospectus and SEC Filings

Official First Investors Strategic Income 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 Emerging Markets Value Equity funds tracked on ABC INVEST:

• iShares Emerging Markets Dividend ETF (DVYE)
• SPDR® S&P® Emerging Markets Dividend ETF (EDIV)
• Cambria Emerging Shareholder Yield ETF (EYLD)
• Fidelity Emerging Markets Multifactor ETF (FDEM)
• VictoryShares Emerging Markets Value Momentum ETF (UEVM)

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.