Foresters Investment Management Company Inc

Item 5 – Fees and Compensation

Registered Investment Companies

Foresters Investment Management Company, Inc. (the “Adviser”) provides
investment advisory services to each fund pursuant to an Investment Advisory
Agreement (“Advisory Agreement”). Under the Advisory Agreement, each fund is
obligated to pay the Adviser an annual fee, payable monthly in arrears. This fee
varies by fund, from 5 basis points (0.05%) annually for the Strategic Income
Fund, a fund of funds, to 115 basis points (1.15%) annually for the Hedged U.S.
Equity Opportunities Fund.

Each fund bears all expenses of its operations other than those assumed by the
Adviser or its Underwriter under the terms of its Advisory or Underwriting
Agreements. Fund expenses include, but are not limited to: the advisory fee; Rule
12b-1 fees; shareholder servicing fees and expenses; custodian fees and expenses;
legal and auditing fees; registration fees and expenses; expenses of communicating
to existing shareholders, including preparing, printing and mailing prospectuses and
shareholder reports to such shareholders; proxy and shareholder meeting
expenses; and expenses of underlying funds held in a fund of funds.

Proprietary Accounts

The Adviser receives no advisory fees for its management of the Profit Sharing Plan
of Foresters Financial Services, Inc., the General Account of Foresters Life
Insurance and Annuity Company and its own investment portfolio. However, the
Adviser is reimbursed for investment-related expenses, including a portion of its
general administrative expenses and salaries, incurred in managing these accounts.
The Adviser is reimbursed for expenses incurred in managing the General Account
U.S. Portfolio insurance assets of The Independent Order of Foresters, and receives
compensation equal to 15% of incurred expenses.

                     Part 2A of Form ADV: Firm Brochure

Item 7 – Types of Clients

Foresters Investment Management Company, Inc. (the “Adviser”) acts as
investment adviser primarily to the First Investors Family of funds. The First
Investors Family of funds consists of four trusts, which collectively contain 36
registered investment companies, or “Funds”. The Adviser also acts as investment
adviser to the Proprietary Accounts described in Item 5 of this Brochure.

The Adviser has no advisory clients other than the Funds and the Proprietary
Accounts. If other advisory clients were acquired, it is anticipated that the accounts
would be required to be a minimum size, normally at least $10,000,000.

                      Part 2A of Form ADV: Firm Brochure