NEW YORK - Third Avenue Management LLC, an established value investing firm, has announced its plan to introduce the Third Avenue Global Value Fund, expanding its investment offerings. The new fund, which mirrors the company's flagship global value strategy, is scheduled for launch pending final regulatory approval around March 1, 2024.
The Third Avenue Global Value Fund, which will be a sub-fund of the UCITS-compliant Gemini Investment Funds in Ireland, is the second such offering from the firm. It follows the Third Avenue Real Estate Value Fund and is designed to cater to qualified non-US investors. This strategy has been managed by Third Avenue for over three decades, delivering attractive long-term returns since its inception in 1990.
Portfolio Manager Matthew Fine expressed enthusiasm about providing the fund to a broader investor base, citing growing interest in value strategies. Third Avenue's approach focuses on a balance sheet-focused, price-conscious investment philosophy.
The firm's collaboration with Capital Strategies Partners, a marketing firm specializing in manager selection for local distribution, aims to leverage their 20 years of experience in the asset management industry for client acquisition and retention.
Erik Kleinbeck, Managing Director and Head of Business Development at Third Avenue, highlighted the partnership with Capital Strategies as a strategic move to combine Third Avenue's portfolio management expertise with the marketing firm's extensive reach.
Gemini Capital Management, represented by Director Stuart Alexander, also expressed anticipation for the ongoing partnership with Third Avenue and the launch of the new fund, aiming to serve the UCITS fund investor community effectively.
Third Avenue Management, partnered with Affiliated Managers Group (NYSE: NYSE:AMG), boasts a 35-year history of value investing and manages over $1.4 billion across various core strategies. These strategies are accessible through Mutual Funds, UCITS, Separate Accounts, and Sub-Advisory arrangements.
The information for this article is based on a press release statement from Third Avenue Management LLC.
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