Third Avenue Value Fund

Third Avenue Value Fund seeks long-term capital appreciation through a flexible mandate that takes a global, all-cap, benchmark-agnostic approach to equity investing and allows for select opportunistic investments in credit securities.

Opportunities are evaluated with an emphasis on financial strength and an ability to compound net asset value, while our price-consciousness restricts our investment activity to securities priced at significant discounts to our conservative estimates of net asset value.

• Deep value, NAV-focused investment approach: Invests opportunistically across sectors, geographies, and capital structures, emphasizing financially strong companies with tangible assets and the ability to compound net asset value over time, purchased at meaningful discounts to intrinsic value.
  

• Global, benchmark-agnostic mandate: Maintains a flexible all-cap equity approach with the ability to invest opportunistically in preferred stocks and debt instruments across the capital structure, enabling exposure to contrarian and special-situation opportunities in both developed and emerging markets.

• High-conviction, actively managed portfolio: Concentrates on the portfolio manager’s highest-conviction ideas while retaining flexibility to hold cash when attractive opportunities are limited, resulting in high active share and differentiated portfolio construction.