OPPORTUNISTIC. ECLECTIC. GO ANYWHERE.
DATE OF INCEPTION
PORTFOLIO MANAGER
MORNINGSTAR RATING
Fund Documents
Statutory Documents
STRATEGY HIGHLIGHTS
Deep Value Investor
We seek investment opportunities that trade at a discount to readily ascertainable valuations and are often contrarian or special situation in nature
Balance Sheet Focused with a Long-Term Horizon
Third Avenue’s investment philosophy requires a strong financial position that enables our ability to look longer-term
Focus on Total Return
Our goal is to provide above-average performance, most of the time and over the long term, while seeking capital preservation through investing in companies that typically have tangible assets that are often difficult to replicate; the Fund may serve as a non-correlating element to more mainstream value strategies
Global Universe
Our approach is globally opportunistic, finding value in economic and industrial recessions, complex corporate structures or capital structures and special situations in both developed and emerging markets
High Conviction, Active Portfolio Management
We actively manage the portfolio by prudently concentrating on our highest conviction ideas, and by holding cash when there are fewer buying opportunities
FUnd Objective:
Our strategy seeks long term capital appreciation by investing opportunistically across a global universe of sectors, geographies and security types to build a differentiated portfolio of contrarian and special-situation opportunities. The fund’s investments are generally characterized by what we believe are strong financial positions, valuation supported by tangible assets and market prices substantially below our estimate of intrinsic business value.
Active Management, High Active Share*
third avenue value fund
Performance
*Inception: 11/29/2020
Hypothetical Investment made in the Institutional Share Class as of October 31, 1990 (Fund Inception Date November 1, 1990). Performance is shown for the Third Avenue Value Fund (Institutional Class). Past performance is no guarantee of future results; returns include reinvestment of all distributions. The chart represents past performance and current performance may be lower or higher than performance quoted above. Investment return and principal value fluctuate so that in investor's shares, when redeemed, may be worth more or less than the original cost.
Top 10 Holdings
Top 5 COUNTRIES
Allocations are subject to change without notice
RELATED MEDIA
Important Risk Disclosures
Third Avenue Funds are distributed by Foreside Fund Services, LLC. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. Third Avenue Funds are offered by prospectus only. The prospectuses and summary prospectuses are available on this website or by calling (800) 443-1021. Read the prospectus or summary prospectus carefully before investing.
FUND RISKS: Risks that could negatively impact returns include: fluctuations in currencies versus the US dollar, political/social/economic instability in foreign countries where the Fund invests, lack of diversification, and adverse general market conditions. For a full disclosure of principal investment risks, please refer to the Fund’s Prospectus.
1Active Share is the percentage of a fund’s portfolio that differs from the benchmark index. The MSCI World Index is an unmanaged, free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of 23 of the world’s most developed markets.Indices are not securities that can be purchased or sold, and their total returns are reflective of unmanaged portfolios. The returns include reinvestment of interest, capital gains and dividends.
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