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Third Avenue Value Instl (TAVFX)

64.11 +0.10 (+0.16%)
At close: November 15 at 6:46 PM EST

Fund Summary

The fund seeks to achieve its objective mainly by acquiring common stocks of well-financed companies (meaning companies with high quality assets and conservative levels of liabilities) at a discount to what the Adviser believes is their intrinsic value. It may invest in companies of any market capitalization and across all industries. The fund may also acquire senior securities, such as convertible securities, preferred stocks and debt instruments, that the Adviser believes are undervalued. It also invests in both domestic and foreign securities.

Third Avenue Value Instl

New York NY 10017
622 Third Avenue, 32nd Floor

Fund Overview

Category World Small/Mid Stock
Fund Family Third Avenue
Net Assets 732.99M
YTD Return 1.18%
Yield 2.32%
Morningstar Rating
Inception Date Dec 31, 2009

Fund Operations

Last Dividend 1.55
Last Cap Gain 16.00
Holdings Turnover 16.00%
Average for Category --

Fees & Expenses

Expense TAVFX Category Average
Annual Report Expense Ratio (net) 1.20% 1.26%
Prospectus Net Expense Ratio 1.20% --
Prospectus Gross Expense Ratio 1.20% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 5.21%
Max Deferred Sales Load -- 1.14%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Mr. Fine joined Third Avenue in 2000 and began working with Third Avenue’s international team in an effort to identify investment opportunities in the wake of the Argentine crisis of 2001. Mr. Fine has extensive global investment experience across developed and developing markets throughout North America, Latin America, Europe and Asia. Mr. Fine joined Third Avenue’s research and portfolio management team as a research associate, the first position typically held by Third Avenue’s internally developed talent. He became a senior research analyst in 2008, a principal of the firm in 2009 and lead portfolio manager of the Third Avenue International Value Fund in 2014. Mr. Fine holds a B.A. in Economics from Hamilton College. He is a CFA Charterholder, a member of the New York Society of Security Analysts and a member of the Board of Trustees of Suffield Academy.

Morningstar Style Box

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Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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