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Important Legal Information

This Web site contains information about the First Investors family of mutual funds; First Investors Corporation, a broker-dealer that serves as the principal underwriter for the Funds; First Investors Life Insurance Company, and certain other First Investors affiliates (collectively “First Investors”).

Although we make every effort to provide accurate and complete information on this Web site, we do not guarantee that the information is error-free. Therefore, all information is furnished without warranties of any kind, implied or expressed. Additionally, under no circumstances shall First Investors Corporation or its affiliates (“First Investors”) be liable to you or any party for any direct, indirect, special or other consequential damages arising out of any use by you of this Web site.

Neither First Investors Corporation nor its affiliates provide legal, tax or estate-planning services. All material on this Web site is furnished solely for informational purposes. First Investors makes no representation that the products discussed on this Web site are available in all states in the United States nor do we represent that the products are appropriate for all individuals. Please consult with a First Investors Financial Services Representative to ascertain product availability and suitability.

First Investors offers brokerage services. It is not an investment adviser. Although First Investors does offer investment advice to its clients, such advice is solely incidental to its recommendations to clients of specific securities in its capacity as a broker-dealer. We do not receive any compensation for our advice other than the commissions we earn on the sale of mutual funds and other securities. There are differences between broker-dealers and investment advisers, and as a consequence, the customer’s rights and the firm's duties and obligations to the customer, including the scope of the firm's fiduciary obligations, may differ.

Anti-Money Laundering Policy

We are required by law to obtain, verify and record information that identifies each person who opens an account. We are therefore required to ask for your name, address, date of birth and other information that will allow us to identify you. If you do not provide the required information, or if we are not able to identify your identity, we may be prohibited from opening or maintaining your account.

Summary of Business Continuity Plan

First Investors Corporation and its affiliated companies (collectively, “First Investors”) have developed a comprehensive business continuity plan (“BCP”) that addresses how First Investors will respond to a significant business disruption that impacts one or both of its two primary offices, located in Edison, New Jersey (“NJ office”) and New York City (“NY office”). Among other things, the BCP also addresses alternate physical locations; procedures for data back-up and recovery; procedures for recovery of “mission critical” systems; procedures by which First Investors can communicate with customers, employers and regulators; financial and operational assessments; critical supplier, contractor, bank and counter-party impact and regulatory reporting so that First Investors could resume its business in a timely manner.

In addition, the BCP addresses the impact of business disruptions of varying degrees and scope on First Investors operations and business. For example, in the event of a firm-only disruption, First Investors has arranged to have its personnel and operations relocated to a designated off-site back-up facility (“Alternate Site”). In the case of a business-district and/or city-wide disruption (such a disruption is likely to affect only one of the two primary offices), the BCP provides that all NY office operations may continue from the NJ office, with little or no delay in transaction processing. In the event of a disruption to the NJ office, certain authorized individuals will make a determination as to whether the office is inoperable. If deemed inoperable, First Investors will relocate its NJ employees to, and resume its operations at, the Alternate Site. In the event of a regional disruption affecting the tri-state area, and thereby impacting both the NJ and NY offices, First Investors will relocate its personnel and operations to the Alternate Site. While recovery time will vary based upon the nature and scope of the disruption, First Investors anticipates that its essential mission critical systems will be operable at, and telephone lines will be re-routed to, the Alternate Site within 24 hours of the time a significant business disruption is declared to have taken place. Until such time, customers should contact their local First Investors sales office for assistance.

Testing of the back-up procedures is conducted periodically throughout the year, and the BCP is subject to modification. The most current BCP Summary will be available on First Investors' website at www.firstinvestors.com. It may also be obtained via mail upon request by calling First Investors' toll-free Shareholder Services line at (800) 423-4026.

Our SIPC Membership

First Investors Corporation is a member of the Securities Investors Protection Corporation (“SIPC”). SIPC insurance does not protect against a decline in the value of securities held at a brokerage firm. Moreover, mutual funds, annuities, and certain other types of securities are not eligible for SIPC protection. You may obtain information about SIPC, including a copy of the SIPC brochure, by contacting SIPC. SIPC's website address is www.sipc.org and its telephone number is (202) 371-8300.

Requests for Dealer Changes on Accounts

The business of First Investors Corporation (“FIC”) is generally limited to selling mutual funds and similar professionally managed products. As a result, FIC generally does not hold the investments of its clients in traditional brokerage accounts. It registers these investments with the issuers directly in the names of clients, rather than placing them in brokerage accounts.

Because the investments that are sold by FIC are generally “directly held” with the issuer, they are not eligible for transfer to other broker-dealers via the NSCC's Automated Customer Account Transfer System (ACATs). When a client wishes to change the broker-dealer designation on his or her fund accounts, the client (directly or through the new firm) must contact the fund group and follow its procedures for dealer changes. This is a manual, rather than automated process, and sometimes takes a longer period of time to process. Normally, dealer changes are limited to firms that have signed agreements authorizing them to sell shares of the particular fund.

In the case of First Investors mutual funds, a client can request a dealer change by contacting Administrative Data Management Corporation (“ADM”), the transfer agent for the Funds, at (800) 423-4026. ADM will provide details concerning its procedures for dealer changes and whether or not the new firm has signed an agreement authorizing it to sell First Investors funds. (First Investors funds are sold through many different broker-dealers.) ADM will promptly process a dealer change request upon receipt of the required information and paperwork in good order.

There is one exception to this dealer change procedure. If an existing FIC mutual fund client wishes to hold individual stocks & bonds, the client may open a general securities account with FIC through FIC's clearing arrangement with Pershing, LLC (see “General Securities Information” below). These accounts have been established as an accommodation to customers who wish to hold individual stocks and bonds. Pershing does participate in ACATs. Therefore, if a customer has such an account, the customer can transfer all eligible securities in the account to another firm via ACATs. The client’s new firm can work directly with Pershing to effect the transfer.

General Securities Information

General securities orders for clients of First Investors Corporation (“FIC”) are cleared through Pershing LLC (“Pershing”), pursuant to a clearing agreement between Pershing and FIC. Pershing will route client orders in equity securities to different marketplaces in a manner consistent with the obligation to provide best execution of all client orders. These marketplaces attempt to assure that all client orders are executed at a price equal to or better than the displayed national best bid/best offer. Where possible, Pershing routes orders in over-the-counter securities to select market centers. Exchange-listed securities may be routed to exchange specialists affiliated with Pershing.

FIC does not instruct Pershing to route orders to specific marketplaces or market centers. FIC does not receive compensation for any orders directed by Pershing to specific marketplaces or market centers, which is commonly known as “order flow.” See the terms and conditions section of your GSU statement for a description of Pershing’s payment for order flow practices.

You may obtain the identity of the venue to which your general securities orders were routed for the six months prior to your request and the times of the transactions that may have resulted from such orders. A written copy of this report will be provided to any First Investors general securities client upon request and without charge. To request a copy of the report, call the General Securities Unit at 1-800-646-0285.

For additional information regarding order routing practices and the venues to which general securities orders are routed, you may visit www.orderroutingdisclosure.com.

Mutual Funds Nominating and Compensation Committee Charter

Committee Membership

The Nominating and Compensation Committee (“Committee”) of the First Investors Funds (“Funds”) shall be composed of all of the directors/trustees of the Funds who are not “interested persons” of the Funds (“independent directors”), as that term is defined in Section 2(a)(19) of the Investment Company Act of 1940 (the “1940 Act”). The Committee may elect from its members a chairperson. If a chairperson is elected, the chairperson shall serve for a three-year term and the chairperson's duties shall be to:

  1. call, and preside at, meetings of the Committee; and
  2. publish meeting agendas.

Committee Functions

  1. The Committee shall select and nominate persons to serve as independent directors on the Board of Directors. Any such nomination that requires a vote of shareholders shall also be approved by a majority vote of the Board of Directors. The Committee shall evaluate candidates' qualifications for Board membership and their independence from the Funds' manager and other principal service providers. The Committee may also consider the effect of any relationships beyond those delineated in the 1940 Act that might impair independence (e.g., business, financial or family relationships with the Funds' service providers). Persons selected must be independent within the meaning of the 1940 Act, and rules thereunder.
  2. The Committee shall also evaluate candidates' qualifications and make recommendations for “interested” members on the Board to the full Board.
  3. In considering a candidate's qualifications, the Committee shall generally consider the potential candidate's educational background, business or professional experience, and reputation. Potential candidates should demonstrate an ability to bring integrity, insight, energy and analytical skills to Board deliberations. In addition, all potential candidates must demonstrate an ability and willingness to make the considerable time commitment, including personal attendance at Board meetings, believed necessary to his or her function as an effective Board member. The Committee may adopt from time to time additional specific, minimum qualifications that the Committee believes a candidate must meet before being considered as a candidate for Board membership.
  4. When the Board has, or expects to have, a vacancy, the Committee shall receive and review information on candidates qualified to be recommended to the full Board as nominees for election as directors, including any recommendations by shareholders. Such candidates shall be evaluated based upon the criteria described above and such other additional qualifications as the Committee may adopt from time to time. The Committee shall review shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Fund's offices.
  5. The Committee shall periodically review the composition of the Board of Directors to determine whether it may be appropriate to add independent directors with different backgrounds or skills from those already on the Board.
  6. The Committee shall periodically review director compensation and is authorized to establish compensation of the independent directors as the Committee deems appropriate.
  7. The Committee shall:
    1. have the resources and authority appropriate to discharge its responsibilities, including authority to retain experts or consultants at the expense of the appropriate Fund(s);
    2. report its activities to the Board and make such recommendations as the Committee may deem necessary or appropriate; and
    3. review this charter periodically and recommend any changes to the full Board of Directors.

Committee Meetings

  1. The Committee shall meet as circumstances require. The Committee may meet in person or by telephone, and the Committee may act by written consent, to the extent permitted by law and by the Funds' bylaws.
  2. A majority of the members of the Committee shall constitute a quorum for the transaction of business at any meeting of the Committee. The action of a majority of the members of the Committee present at a meeting at which a quorum is present shall be the action of the Committee.