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Includes detailed analysis of Third Avenue Real Estate Value Fund's positions in AKR, SRG, MAC, FCE.A, FCE.B.
Through the first three months of the year, the Fund generated a return of -2.07% (after fees) versus-4.30% (before fees) for the Fund's most relevant benchmark, the FTSE EPRA/NAREIT Developed Index.
In Fund Management's view, a superior gauge of performance is the Fund's long-term results where it has earned an annualized return of +10.93% since its inception in 1998.