INVESTMENT WEEK | December 13, 2016
Ryan Dobratz, co-lead manager of the Third Avenue Real Estate Value Fund, talks to Lawrence Gosling @ Investment Week UK on global, value-oriented opportunities and improving sentiment towards London and Hong Kong.
“We entered 2016 with only about 7% of our Fund in the U.K. However, after Brexit and the dislocations we saw in the market place, that allowed us to step in and buy into a lot of really high-quality U.K. property companies at big discounts to what we think their values are worth.”
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The content in the video should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or investment products or to adopt any investment strategy. The market opinions and analysis presented may not reflect those of Third Avenue Funds as a whole and different views may be expressed based on different investment styles, objectives, views or philosophies of the participants.
Factors that could affect the value of the Real Estate Value Fund’s holdings include the following: overbuilding and increased competition, increases in property taxes and operating expenses, declines in the value of real estate, lack of availability of equity and debt financing to refinance maturing debt, vacancies due to economic conditions and tenant bankruptcies, losses due to costs resulting from environmental contamination and its related clean-up, changes in interest rates, changes in zoning laws, casualty or condemnation losses, variations in rental income, changes in neighborhood values, and functional obsolescence and appeal of properties to tenants.
Third Avenue Funds are offered by prospectus only. The prospectus contains important information, including investment objectives, risks, advisory fees and expenses. Please read the prospectus carefully before investing in the Funds. Investment return and principal value fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For updated information or a copy of our prospectus, please call 1-800-443-1021 or go to our web site at www.thirdave.com. Distributor of Third Avenue Funds: Foreside Fund Services, LLC.
Third Avenue has been invested in the UK with a focus on London for over a decade, and we think it is one of the best global real estate markets available