Third Avenue Management LLC (“Third Avenue”), a New York City-based investment adviser and leading value investing firm, is pleased to announce the upcoming launch of the Third Avenue Global Value Fund (ISIN: IE000K2CIQ63)1. The Fund will run in parallel with Third Avenue’s flagship global value strategy and employ Third Avenue’s unique fundamental, bottom-up, value investing philosophy in publicly traded securities globally.
The global value strategy has been managed for more than three decades and, since its inception in 1990, has provided investors with attractive long-term returns. The Fund will be structured as a sub-fund of Ireland-domiciled UCITS, Gemini Investment Funds (Ireland) Plc2, and is the second UCITS fund offering from Third Avenue along with its highly regarded Third Avenue Real Estate Value Fund (ISIN: IE00B6WFK718).
“We are thrilled to offer the Third Avenue Global Value Fund to qualified non-US investors,” said Portfolio Manager Matthew Fine. “For more than three decades, Third Avenue has delivered attractive results using a unique balance sheet-focused, price-conscious, fundamental value philosophy, an approach that is arguably more uncommon today than at any point in many decades. We also believe it to be an excellent time to broaden the availability of our strategy to a wider investor base, given the rapidly growing investor interest in value strategies as an alternative to growth-oriented and index-based strategies.”
Third Avenue has partnered with Capital Strategies Partners, an independent third-party marketer headquartered in Madrid with a global presence that specializes in identifying talented managers for local distribution.
“We are excited about our partnership with Capital Strategies,” said Erik Kleinbeck, Managing Director and Head of Business Development at Third Avenue. “This relationship allows Third Avenue to focus on our core equity portfolio management expertise while leveraging the reach and scale of Capital Strategies’ 20 years of experience in client acquisition and retention in the asset management industry.”
“We are delighted to extend a warm welcome to Third Avenue as a valued Investment Manager. By launching the Global Value Fund as a UCITS vehicle, we hold firm in our confidence that Third Avenue’s resilient and proven methodology and track record will effectively cater to the needs of our investor base, spanning both institutional and wholesale segments,” said Daniel Rubio, Founder & CEO of Capital Strategies Partners.
“As a business that values our partnerships with Fund Managers in building strong investment propositions for investors, we at GemCap look forward to continuing our collaboration with Third Avenue to launch the Third Avenue Global Value Fund and work with Capital Strategies Partners to deliver this strategy to the broader UCITS fund investor community,” said Stuart Alexander, Director of Gemini Capital Management3.
About Third Avenue Management
Third Avenue Management LLC is a New York City-based investment adviser founded in 1986 by legendary investor Martin J. Whitman. For more than 35 years, the Firm has consistently pursued a value approach to investing by focusing on the company’s balance sheet, the value of its underlying assets, the discounted price of its securities, and the ability of the enterprise to increase its corporate net worth over time. Today, the Firm is partnered with AMG (NYSE: AMG) and has more than $1.4 billion in assets under management across its five core strategies – Global Value (Nasdaq: TAVFX), U.S. Small-Cap Value (Nasdaq: TASCX), Global Real Estate (Nasdaq: TAREX), International Real Estate (Nasdaq: REIFX), and International Value – which are available to investors through Mutual Funds, UCITS, Separate Accounts, and Sub-Advisory arrangements. For more information visit Third Avenue at www.thirdave.com.
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1 The launch of the Third Avenue Global Value Fund is subject to final regulatory approval of the Fund, expected around March 1, 2024
2 Gemini Investment Funds (Ireland) Plc is authorised by the Central Bank of Ireland (C67292)
3 Gemini Capital Management (Ireland) Ltd is authorised by the Central Bank of Ireland (C155302)
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