Third Avenue International Real Estate Value Fund

Quentin Velleley, CFA

Portfolio Manager

Inception

March 2014

A Sustainable Approach to International Real Estate Investing

Focus on Total Return through Real Estate & Real Estate-Related Securities
Our International Real Estate Strategy seeks to achieve long-term capital growth and current income through a portfolio of securities of publicly traded real estate companies located outside the U.S. that may include REITs, real estate operating companies and other publicly traded companies whose asset base is primarily real estate.  The concentrated investment strategy is actively managed and only invests in entities that exhibit strong Environmental, Social, and Governance principles which we believe can have a positive impact on returns.

Share Classes Available (Tickers)
INSTITUTIONAL (REIFX) | INVESTOR (REIYX) | Z CLASS (REIZX)

Active Management,

High Active Share


97%

         Active Share vs. MSCI World Index1       

22

Total Equity Holdings

as of September 30, 2021

Top 10 Holdings

  REIFX
National Storage REIT 6.1%
Glenveagh Properties Plc 6.0%
Big Yellow Group PLC 5.8%
Grainger plc 5.3%
Boardwalk REIT 5.3%
Corp. Inmobiliaria Vesta SAB de CV 5.2%
VIB Vermoegen AG 4.8%
Centuria Capital Group 4.4%
AEDAS Homes SA 4.2%
Shurgard Self Storage SA 4.1%
Total 51.2%

as of September 30, 2021

Asset Types

as of September 30, 2021

Country Exposure

as of September 30, 2021

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: In addition to general market conditions, the value of the Fund will be affected by the strength of the real estate markets. Factors that could affect the value of the 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. The Adviser’s use of its ESG framework could cause it to perform differently compared to funds that do not have such a policy. The criteria related to this ESG framework may result in the Fund’s forgoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities for ESG reasons when it might be otherwise disadvantageous for it to do so. For a full disclosure of principal investment risks, please refer to the Fund’s Prospectus.


1 Active 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.